HomeMy WebLinkAbout1965-OR-1637An Ordinance Authorizing the M~yor and Clerk-Treasurer
of the City of Jeffersonvitle, Indiana, To Make Tempo-
rary Loans in Anticipation of Current Revenues.
BE IT ORDAINED BY THE COMMON COUNCIL OF THE CITY OF JEFFERL
SONVILLE, INDIANA:
Section .~.
The Mayor and Clerk-Treasurer of the City of Jeffersonville,
Indiana, be, and they are hereby authorized and directed in the
name of said City of make temporary loans in the aggregate
sum of Fifty Thousand Dollars ($50,000.00), payable ~-7-w ~M ~/
in anticipation of current revenues of said City now actually
levied and in course of collection for the current fiscal year
of 1965, and as evidence of such loans to issue and sell Fifty
Thousand Dollars ($50,000.00) time warrants of said City of
Jeffersonville of Twenty-Five Thousand Do~ars ($25,000.00)
each, plus interest at the rate of three and one-half per cent
( 3 1/2%) per annum from the date of sale to maturity, which
interest shall be added to and included in the face of each
of said time warrants. Said time warrants shall be payable to
bearer, designate the nature of the consideration, that they
are payable out of the aforesaid fund, and that they are payable
at the office of said City Clerk-Treasurer~ or at the Clark
County State Bank or at the Citizens Trust Company (authorized
depositories of said City) as checks upon such depositories
are payable, upon presentation on or after the date of maturity
thereof, and shall be signed in behalf of said City by the Mayor
and City Clerk-Treasurer. Said time warrants shall not be sold
for less than Twenty-Five Thousand Dollars ($25,000.00) each.
Section 2.
That there be, and is hereby, appropriated and pledged
of the current revenues of the City of Jeffersonville the sum
of Fift~ Thousand Dollars ($50,000.00) plus
rate of three and one-half per cent (3 1/2%)
the date of the
interest at the
per annum from
sale of said time warrants from ~P~z ' 7
, to the payment thereof.
Section 3.
CI~RK-T~R
Approved and signed by me this ~J day of April, 1965~
MAYOR .~
This Ordinance shall be in full force and effect from and
after its passage and approval.
ATTEST:
Presented by me as Clerk-Treasurer to the Mayor of said
City of Jeffersonville, this c~' day of April, 1965.