HomeMy WebLinkAboutResolutions - 1960.11.01 - 19271Nov,.
17V S 3 of
Oaklamj. Gounty,
Micf.,11eous
ou the 2nd day of Juo i 195, adopt
3ic;pproving the es,blishment of
0; ane
:,LAANCE NO 7
C)OINANCE IO fWYVIL
',I.S.U.-OAKLD SEWAGE DI,OSAL
BONDS, DATED NOVEMBER 2, 'i':;59; Tu (JVID-7, FOR
TIE RETIRE1777 AND SECUFffTY OF SAI2 ,
'60NDS: ANT -;:) PROVIDE FO,i. eTIT:Er M[Li R7LATIVE
C HE M-.-OAKLAND Sa DI3PCSAL SYTEM AND
AID BONDS.
TIHAEAS, pursuc4at to s of Act No. 185 of
the Lblic Acts of 1957, a acled, the Board
.sposal system to be klAow
Syi Tur the purpose of disposing of sewage frcH.
district IncG;o ;,11 'N..U.-Oaklan
wh*c.I7 distrc.4 is described in sai nasolution and 3s(
1.A1C
No 5 of the ordjric; of the Conty of Oak1a116 orc
rAsposal District,"
age
,,AS, pursuant to Ordi,, . 3, as by
Ordinance No. 6, of th- ordinances L the County cLland, there
constructed aid M.S.U.-Oakland Sewage Disposal System
and there hays , issued M.S.U.-Oald
dated November 2, 1959, in the
the of 4 1/27 per aanum payable .
on the first dy of
ec,vRber in each which bc-. NovL
in each year as follows: $70,000 in the year 1960 and $75,000 in
each of the years 1961 thru 1964; 'In(1
has
Rev
$37u,00. bearing interest
on Mny
Hay a
1960, and ther
of
entered into a contract with the 'ship of
the County of Oakland through its Board of
Avon and thc vT pontiac whereby the county will furnish
::osal services to said townships for the territory
within the - Disposal District, which contract
is dated June 24, 19 and i set forth in rx,.11 ir dilutes of
the meeting of th,7‘ M,Ird of Supervisors held on -,E,,; 5, 1959; and
WHE7(.1 , aid contract which by the terms thereo
-ires on .12 1359, has been. extended to June 2=;, 1984; and
, there hav2 '( retired by i'ment bond Nos.
thru 10 of said issue, maturing on NovErr. 1, 1960; and
it appears desirablo to extend the maturities
on said bonds iy refunding the s,4.,,e;tirLre
NTY OF OAKLAND, MICI:L , CRDAINS:
Section 1. W1 ver used in this ordinance or in the
bonds to be 'rercun6er, except when otherwise indic4tec: by
the context:
WHE
County
. . ,,A erm C'7;Wl shall be construed to mean the
LU CA,
(b) The term "board of i),2rvisors" si-1!„ be construed
to mean th':)a-AA of ,uvisors of said county, the legislative
and governiw:1, body tkizro.
2-
(d) The
to inclu•o all sanil',
orks, in.:aaerli -:::_es and
!_ be constrh
storm sewel—,,
as the shall plants
syste
(.! ,411(
reiundg bonds be known as "M.S.U.-Oak1.0 Dispi:
The term "bonrd 1 ,1)lic works" shP11 be deemed to
mean the board of public vs of said county r7.7::yatd Lnc:c7,7 Act No
th. ,Llic Acts of 1957 as an
rL time to time exist, used or useful in conn.?,cton witN tTh'2,
collection, tr;aatLa =1.1d/or disposal of sewa:,,.. _frou LN
by the county.
(e)t:. rm it ,, system
disposal sysr.
be deemed to refer to the
Sew Disposal
District.
(f) Th term "revenues" and "net revenlles" shall be
construed as defiJ. in Section 3 of Act No. 94, 'icL.fan Public
of as now amc:Aed.
._Lon 2.
and exhaueo, par
94, mihian Public
, prin
al i'by authorized
t, to the provi F C=V.S Of Act No
as amey::.
Three I'Vr.ra Sixty Thou: ad Dollars
ing bonds
($360,000) for the purpose of refg bonds Nos. 11 thru 370 of
said M.S.U.-6ii1and Sewage Disposal Rpnue Bonds, dated
Ncvc:mb7r 2, :37regating the )f $360,000. ::;aid
‘. ,-fundir uds"; he dated as of November 1
shown on the bond stere ;:;ctier the i i at
ion shall not "-test
1960; shall be i-;mborod consecutivdy in the direct order of their
t-urits Erom 1 t;(1-1:i 360, both inclIv; shall be i7.7o2on bonds
denomination of $1,00C be rtr 1 . as to
princLpal only in the inair.r hereinar .k.orth in bond
mhall irtrest at the rate i 4 1/Zio per anm7m p7iyab1e
on 3anuary 1, thcftreafter semi-annually on tho first days
July in each year; iid lan on January 1 in
r 4:13 .Eol
year
20,U0 th -,.ach of Cile years 1966 thru 1973
25,000 in each of 1,!m years 1974 thru 1980
bonds of said issu - n...1 1 be subject to redemptir-. 'rior t')
mw.turity at the ol)tion oi t1i county, in direct numE
on any one: or
holders of th
not less than
east once
Interest payment dates at ti )ar value tA,
Notice of redeu :hall be given to the
r ,2rned by .1 ,b1ication of such notice
to i;ne date :ixed for redel
or publication circulatc.in
crios as a part of its regular
not.77.15 of ti sale ol 17Jed, that
bond s1.1.1. be :.•• • 'rtereä, l'otice of the nr• thereol.
shall in i.v .egistered United Sttes mail to the
don board of county .auditors, which notice
mailed not ihan thirty (30) ?rior to thc 6a
don0 ii so called for
for
-4-
after the date fixed fo :ion, providd 1.unds are on hand
said chr.rn of the board of seal of the county
facsimile Upon th , , of said refunding bonds,
with the paying agent to r , , the same.
The pril of said bonds and the tatt thereon
shall be payable in lawful -0 \ the United c,f ATTlerica
at the Commilnity National J:,c La the City of .jcntiac,
upon 1:csnaon and aurrndor of dc nd attached ccons
as they s.rvi2rally
Section 3. The chairman oard of supervisors and
county clerk of the County of Oaklan: !xecute said bonds for
and on behalf of: th ,, county Auci the county clerk shall affix the
supervisors and county clerk snail execute the interest coupons to
be attached to sa 4 ., bccrls by c 4 ng to be affixed theretc t„ _r
t7,:easurer of the county zili delive -;7 t.72 FjC in ifor
the bonds tc) refudd thereby, on the basis of par for par,
both the (3-.1:7j,ca1 and refunding band ! to have attachEyl thereto all
coupons evidc=ing interPst from -ovHTber 1, r
LL.urities. 7.7minty trrer upon receipt of said origihal
bonds of Ns 2, 1959, dll cancel the same t, t' er with the
attached coupons.
Section 4. Said bonds 4i17, attd coupons shall not be
a general oblj:,atLon of the county and shall not be an Lh(lebtedness
ot th,2 county within any state constitut.7 ,..,7 provision or statutory
-5-
Ot the principal
hereby cited th
f_aterest
the
net vnucs so ed shall ci-rd remain subThc;t to
lien until. Li -12 ?ayment incipal of
said bonds.
remedies y law and partcurLy by sal No.
ract
limitation. The principal of and interest on said bonds shall be
yable solely from the net rev de T:i from th.c oc.croa of
the system, includin tre ir r r:4cwcnts an
sions (7 of. Tc,
'1-,Lcrest on the hcoot, issueo
uvur hci;!s of said
lw each of such holders, a first '' (by
said Aci- ,,. 94, Mich%gan Public Acts of 1933, s d, made
a st tc ry lien) upon Lk ret revt..nues from th( Ld system, in-
cluding improvers , enlargerpq -c and ,7“;juns thereof.
Section 5. The holder or holders of any of th, T7,o ,-; or
interest coupons herein auth.: to be issued, h.
94, Michigan Public Acts of 1933, as amended, for the collection
an6 en1.or7 -7nt of seid bonds
incluui: the rip_l aave a r
event
and the security therefor,
appointed for &y:r
n,e
county in the performar ua
Section 6. The system Fhail be operated upon the basis
f a fiscal year beginnin on 5ary 1st of each year ,T1 ,1 rn
on December 31st of the same year.
6-
Section 7. The ;:md management
of the SI/SCE shall 21: the 5.1.-diate supervisio c_
(.".r -7t1
r connection to the sewer
:„ In case of
0 ;A:- 1 000 cubic feet of sewage di
by the system froL, townsh, co t-',e basis
of the amount of water cot by tar water
of the board of Ic works.
Section 8. It is the intention that sew disposal
will be furnished -7 ,7 ip c.,y/on tie Townsa4
Pontiac for th. ,acIJIc of M.S.U.-Oakland Sew.
District and not directly to the individual users in said district.
Th.7 charges to eieh trhip for the services and facilities of the
bt175:j.
existing
tov,u_sh.
tJonne
(a) For each unit
ivleectly conne„—:,, with Lea system, Lae sum
ed as follows:
tion
new colicion the said c(rci..r_on
to the county within thirty after Lile of -Jie
building D.,?.rmi,to Connection cvs relatiL g 1
1, lv.:49 be payable in
k1instal with....1.2rest to the cc)1:..e7 but with
interest at 67,
met -1-: or meters, if available, e not, as rired
t s"
sed slill mean an7 property
k.-ity of sanitary e ordinarily t
purPoses
zhly particular be assi
f public works and its dcc.Isior ,
eir 1 Lc a-uces
justify, ;11 .zlore than one unit to a lling. Y -
shall be added CI a v'Tlalty of l7 fo7( o:w 7I-J month or n `, ,
_ndividual home or business meters: Provided, itt each
quarterly charge to a township in respect to all units (,
property water C0777 ,!:,n LLon i by t -r or
individual meter readings, shcl i. be not less than d sum
computed by multinlyin„ Lacn o, : of such units by $9.50.
Whra no such n -t.i wa 4 1,01 thy I.
charge shall be upon the immba -z
-1,.:31 shall be $9.50 per unit per quarter.
The word
fro wh there
arf..7in from the occupancy of a reflerc buildint a sirr;,;
of ordinary numb -f: of uni_
parcel of pro7-2rty usec» for other than
shall be de d by the
shdl be fir. The board
The charges to each township shall be billed quhirterly
and shall be payble to the county withi .11 30 days LL.c Cae rendi -
tion of the bill throfor. If any municlty fails to pay ta.1 ,,?
abovo neutioned charges on or before the final payx,.. date, then
ftaccion thereof for whiL: the saw' remains unpaid. The county
shall have the right to pursu ulc,tod pormiLed law for
collection of any sum due it fror trhe towyls, Th. board of public
a period of ninety days in the pa , due from it
county or to am; son, or cor., , public c. , Livate,
or or to any publiL '.umenta
therefrom, as and when the same shall due anc , and
works shall have the r7dt7 tc the use of the county •• ige
disposal facilities to any towns1-:, 'ch shall be ,quent
to th county while such delinquey continus.
hc H cter of sewage contributed from any township
be suc'o tha
upon county's syste
an unreable additional burden
tional charge shall be made
over .=i-Ld above the regular .‘_1.vice „4.arge, or it may be reo-
that such sewage be treated before beim .',:::(Led into the county's
system or the t said sewage into the cc. system
may be denied, if necessary, for
)ubli, 'th or safety.
:ection of said system or
No fr( shall be fur r d by the syst, o the
Section 9. The rates hf-reinbefore ,„
be sufficient to prt , ide for the payment
:ion of the sysi:,- Ind such
expel - fo 1_ - ce thereof as may be necessary to reserve
good repair anc order; to provide fr
•
pay -
-interest upon and th. principal of all 1:,ond., TJayable
to provide for s.icTh ther expn and iun< system
IL-0nance. Rates shall be f'
time by ti Le county board of rvisors o as to
-9-
Section 10. Upon the ec e
for the origii, ,1 1-,nds, all moneys
. 5 shall be tc
.ding b -
!stAblished
table
vIrious
under said Orijo.
set aside in eacc,
:Linter cc Fund. Out of the
The revenues of the system arc
aL.d coilected
he "F.eeivin Fund"
::from periodically into
shall be set asid(:2
of the sy
:-.c7i)arate and
in the Recer:
and interest on each issue or then payable from LI no.Els
and agrees produ-cc the fcroing amounts, and the county, ccv
,Lntain at times such rates for services iw.ed by the
AM as ;J17.7, be ,..Lficiemt to provide for the toregoing.
quarter (L, iT,Jhs) into A fund to b..;i.;ated "Operation and
proviee for the H.
the next quarter of all current .penses of administrz,LC
crtion ok the system and current eT:pen;ses for ticA,
ntuaance for
thereof necessary to jcis..servE :112 system in good
and working _rder.
und. Out of the re-
rev13 in thReceivin. h
-Lich q.bter into a fund to 'eo
RedeL
th:H -:',arit as the same bom:.? cJue of
set
a sum proportionately suffie r to provide for
-10-
'ter sbaT1 not be less Ch.r;.th
quarter payment of couheoblob eb.brs.
which may become nee
used
Ele requirement
in a fund to b'
c-,b -rd of public v!ob may dee.
and enlarg
4 (4 5.
system and if there shall he any deficiency in the mbunt
set a
added to the
set asiC;2
received
Subject to
Inturst-.
the
nt requirement:
imitatLous
un.,7 may be
such. L be
hat the amount so
,heys in said
on of bob6s.
3. lacement Fund. Out c. remainini.
the Receguing -nd, there ba11 h not F-:;L:, aside
insbb1. .L.-s in a fund to "Replacel::
not than $1,0 yar cor1c.. iith thb
7.1g Janttiry 1, t , until such abd J.11
$5,000.00, to build up a. 7.r.s=72rve for any -.bc.c.nbs to the s
from time to MODOVS
ake such replaceme
I said fund shall be __<reti soc'n :.1s possible tber
4.
aro.'
the foreEc._ :::,uch quarter,
,ivement Funo," such sum as the
to be used for
airs to the system.
-2.maining in said eiving
at tbo of any fiscal c all pc:-Aical tbefers
Funa
foregoin
tion Fund, any 1:clny.s andier securities in oti- th• syFtem
anJ second, to J f Red .tion :,and, to .tent
have been i:H tilrefrom as reouirA be
surplus aliC left in the Recei
to amd to be delaated "Surs 7c1A.
o.
may be tr41117:ed
in said Surplus
ti rl to tie may be ti.ah..LeIred to one or more of the
ay be used for any purpose nertaining to
system: Provided, however, that if at any t-iAre shall
any cLfluL in making any periodical t717cr to any o th ;Tho
mention
possi10.,'
L such default shall be rectified so tar as
of moneys from said Surplus Fund. If any
such o 1 as to more than one fund at any one t
then such tl-Asfers shall be made in the order i
are listed Ell., .
No i„Irsents Shall be said Receiving Fund
thQ ar.;c -i„A inds as above 'ruvidcd.
a ction 11. In the eve n . he Rcc',2iving
.17 .nd are insuffic, tor the current requirements of
eration ri Maintiaaace Fund or the Bond 111(1 Interest Red
be triiJiferred, first, to IDeration and MaintrInc:::
f any de:ficits ti n. Any amornt: so transrci from the
Replac.ament Fund iii be replacea as soon ussible.
Section 12. All in the several funds of the syst
thos Ln the Bond and Interest Itf2d1,:liTton Fund, shall be
te Opert -Icn ;-4n6 Ma! ,] Bond and Ir. :•!st Redemp-
in the Bond and Interest R( Fund ov..2c and above
MOttl: bping acr.iruulated for the pL : 7,72g princi
the holder or holders, Zrom time to
and said bonds required by the comittiC.on and laws of Y.; to the s
12(,L)li th': rev.
deposited
Michigan. All
e Gomvv.nly National Ball the City of Pontiac,
time in the Bond and Interest
n Fund shall be kept on hand with the H- r trust
at IN,Alch the principal and est on the herein aui bonds
are currently payable. The moneys in the Receiving FUDO, Ln the
tion Fund, shall ,2ach be kept in a separate depository account.
aloneys in any otilr fund except
and the Operation and Maintnunt Fund, may be invested in United
States Government oblt -!_o In the of any such
the serllrities repretIng 01 7ame shail b on H. A.th
the r trust coui,any hav, the deposit of the fund
oi sncla tun
Section 13 0 Th-:7 county ttreb77 convenants and 6.grcs with
Ich :i .cilase was th income -.hc;11 L .i .case was t-ri income t11 .0, .i .case was th income t11.0,
to be .Q,,ctuali, all dude- reference
the State of 'ichi r,an and by this ordinance; that it will not sell
lease,
stanti
ti
or in any manner dispose -c the syster, or any -ub-
thereof, until all bonds
have b2:::n paid in full; and that it will not permit
any :,-rson, L7r,, or cv,rpr:Jtion to coap with it in the :12 -!shing
of sewage disposal services to the pc,i -c,.o,1 oi the Townships of Avon
-13-
in a simila f business; that it will
nd file such records, staterdents .accounts as
which it is required L itle with th i.cipal f*Itance
to any bondholder pat of the actui cost of
furnish a copy of the afen: ,i,t7oned audi : tr.?. ,::ctual state-
CO1=0 1-i manner
which shall have
a prior or o. ff“.-Ji_ag therewith, zct as hereinir
and Pontiac within the m.c%U.-Oakland Sewage .T1_57-f-,sal District.
Said county further P.I102S and agrees with t1c holders of said
nos chat it will -, ,n said syster n good ccudition and
operate t ame in an efficient manner and at a reasonable cost,
so long a ,- said nd are outstanding; !,1 ;f Lt will maintain
insurance on the system or benefit of the Lolders of said
bonds in an which ua l would be carried by F.-
may oe requIxed b7 lket No. 94, Michigan Public Acts of P.:33, as
now or hereafter , ,led; that it will secure an i,mntial audit of
thc ceti.d to by a ci ,rtified uCii accountant,
90 days after the close of each fiscal -; that it will
such copy. Any sl2Ch audit Lall be in such ..:,.-7onable cl2ti i. as
will present the. full illricial cordtic ,n of the syu -
Include auditor
'c,Jncmcnt has complied wl.th. the provisions
L to the several funds of the system.
holders of bonds an6
in which tii tern'
of this ordinance in
Section 14. While t7.=2 :soll.ds herein
to be issued snall be 77:Itstn.-r.u -: no ddi.timal bonds payaOlc
from the revenues of:c.
-14-
from the net
7 1 r
s of equal starong shall be
.f.lues to be 01.7ivt,.6. :1-.:77v said
1,n1
county. , selection of su• 3ha1l be subi
state !T sion or .1 as
ion over the issuAnre of _nicipal bo
1 DULIAS shall ct7Lt. a conc7,7:
th
shUt
(or such
ion
to
The county shall have the U . t.r1 issue Additional bonds payable
for .L11:-.2( of improving,
ext.n6ng the syst , whic b::16 when
F,tJzi with the n3 authorized in this
vnhes of Cci%
cx(iinanc; at no such aCi
standit ii 1..1:)? issued in excess
than $150,000 be issued
thiL o
1r,sued
fmal bonds of equal
ich no mrJr-y
uary 1, 1970: and Provided
be equal to 125Z of the
such fisca
LonJs then outstan Hayable from the rev ,Jf the system
and on such 7.idifona1 boy; fnen bein !.ssued. 6ucn additional
be esti.liated by ered
AA,:oty rd UUlic
; who ,71.7. not be a rar ofLicer or empi f the
roval
who 1l be selecte
by the Municipal 7.77.nl.ee Commission. No .LCh additional bonds saall
All then be in default in making any pay- be ssued if the
to the ovIrat:
redemption Th Permist
a!,:nane fund or to the bond ii ntere
unicipal Finance(,TAHL -Lon of
he exist c,:ions ::Truitting the issuance threof.
-15-
Section 15. The bonds and attached coupons herein
rized to be issued, be subrt _ally in the foL
STATE
t hat the tti Oaklan
iaowleoges thL 11
to the beaf-.4: (or if
,tered holder the sum of
KNOW ALL
ir That ,
r va:L
-bond b.
-:TY OF OAKLAND
$1 ,000
S'EW
R•_VENUE REFU..)
POSAL
BOND
ONE td ND DOLLAR
on the first day of Jahn
tne rate of four ,:,11;.
ttt. date hefof until
1961 and .t.iireaftc
a ,eA
,t tct:i
1 -07ere cx,e, paya)le
e Ca•.Ewnity Nationc
ntatLo. and En:.!7:16
, A.D. 19 •.J; tt,rtst thereon,
f,e-half (4 ITir .531m per onntt: ttom
said Lntrest beirt. payable ,:a -uary
JIAly cu the first days of
1717
ca
, c ton
1,:!ons hereto -,7:ttehed
_hLaiLer specLL
z,wflil money
Ba 1..A the
,c). this
ncipal ar.d Mterbt are to b-
. Loth 2x.T1(.7ttn„.
as ,f,r,cally mature.
bThs of
.(1 pu
,1,11tes
and
AO),
Tns, bond is GlIc' of
except as to mturity, num7otrd
of ±eir mates from Lo
Rundf..,
cycler
uc!d
riltLtirmity
,
tA) eE.0
the Statt.
lublic Acts of 1957,
as amehd
o'!: Su
19
Igan
ci
Oak].. and
61Ad
Of i:-LC
,chan
( adop
purp
Di
renh Li
ronte;
Lzipal drc.
tiated Nov6iber
specially
Act No 94
tdinatot No. ,
said co.u.11 hn
tol
This bond
:al obligation o
iaess of to
ate payab:
bonC, 1[,= not a
and do net ..)uitituL
county, wtrain a. or2dt ,„7.tory
oi and interest: on the bonds
from the revziues of thc
SaLu COW'.
17-
cli
dinistration ;
of both
additiu
ursunk;7
stz7t.LA
Zutur improvements, el17..
aftr deducting the rei.sone
r.a,3A. and maintenance aid
of dad j.ntGi.
c!(;1 st;Aan:
irst on such net :eve
sposC_
aud etcsion
expens olf
systc, and
on s,i_ bonds and
wit . may
No . is LL
e bonci of this ser
i.uy at the option of t
ono oyr.dor intur,2st pa)
ard :r1ccrue
Dcn6s eall to be red
not ls tccii ulirty (30 day
at 3c:cAt
C. etroit,
notices ol
17:7, the date fixed t;-- .1111Dt:
publicaAer, dlrculated in Ld CLty
its regular '1ce,
that where
s,
Irci
et1 to the
notice
bond shall be .re
bivc regisz
adtirqg shr
th.c.
ei
-;istered LierPof
ook g o f th e .,c)prd of
.711,11 e ma )t le
deti , Bond
Jond relLst,LaLon
tae dot::! iixed
.c hia :t bear flterc.:
itinds are on hand witl
Cdi
than thir
SO c..aLL
:1, toe
,-
16c for
said
all
it ,JJ.
payc,:m
systm x:id such
n.,7.1.1..:77 to preserv e
the
all
payab
s.lfd
CoUn
:by cc,venant;7 and aes
his 'e dol1
Ln5J4Lrat.j_cc and operatior
thn mainnance thereof ma:
.1 good repair ard wGrkThg order; to
intereL upon and the principal of
ror, as and Deco d1,2 c.,vA
for :1.1c17. oth7r ccc ucicurc and 177:utis for
Ld Vcs t-),11 be fixed
IL)ard cf cof said
amcC.s.
C72.n1:7- df Oaklz
the bo
rate
1 Syi-H
onses,
expens
that at
y.:anding
ofred F
to time
Ok ,c the
This bord may be as to prim7i.pal
ne of the holder on th, ..nd registration boas
County ixdltor6 of said Lfx:.(y
back b:c LJ11) or said f, .rdCounty Atd
:er 1.12 unisier shall be valid
and likewL_s-e noted on the back he.1:
he resto.cd by registration to
.tnterest ceupna shall not be
ted or
nu there
said books
oy by delivery
Lability of
It L6 hero certified, --. --ed and cliared that all
ions and things required to exist, ,..open and be
ccforc .edent to and in the issuance of tt bonds of this
-18-
fora and mantLar
IN WIri.SL;
L. of Superv::_sors
the nar a.
nd
est cc
Ld Chai
A.D.
d and have been perfc:
7 law.
:,ty of iakland,
3 bonj
of Sn,irv1:3o7,7s and
0D he ,-(77c6 wiTA-4
nd
ta2 ann
elay or
GOV-J-77 LAND
County Cler
,t.7n.10 JJte of .;,-,Istration uk
By
(COUJ:j
rts„1-,,.er
Chanina cf County
Board St1.-1~:vi.sors
County
County of
of
United tats of
City of )w::,.
on its
No.
obltion c±
st forta la tae bond
6L1.4iaCt to the redet
will pay to the
Dollars,
f.)Drtununity National
the ac:erest due on tat
7.,vc:nuc2 %efuncji
upon
eiy from cz1,?t,
upea pertains,
L a':LJA said bond.
Liii
bond
eral
vnues
of a Mem
::11,,,7And Con-, -y
ks2vc,nue bonds shall not be isstA and ,:>,:ca -aged
and the director of public
to said
I. "Jv.? board of r,ublic works is Ikreby „aut(
.1,prove
authc
such
4- 4 4.rected to r.::Akc:
of said
. circulation within the
-ffective immediately
79.
lay t herewith, are s,Ifar
hereby
al 16. The said M.S.U.-Oakland
I Finance Commission of the State of Mic.
,2CeS; do all things to Lho
bonds subjet to the provl. ons of this
. of usef .c., of the existing
estimated to be
Section 18. TL ordinance shall be in the
mirtut
a.duped, as soon eL eticabL7. ter its passage
shall be authenticated by
board and unty cler zq1,117. be publishd ace in The
Roch(7t. r Cla2Aon,
cou,lty. This ordinav.ce shall 1;
it6 doption.
section, paraaph, clause
supervisory ,,/4.011 it was
ecord
the chairman - said
shall or phrase ot this ordinc shall -held invalid,
not affect any other patt. of this ,.:.-zdinance.
Sect . All ord1.1.1 and resolutions or parts
cuilty Clerk
-20-