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Home My WebLink AboutOrdinance #406 .. � � , . . � � �� d� � j` , . i . , i � AN OI��.DINANCE providin� i'or bor��owl.ng � � mone;;,� and �.ssuin�; bonds of '�he City o£ Canton, y�'ultori County, Illinois, to the i �� ainount of $1(0,000 i'or tlze pur�ose of ? � � �aying �he cost of coi�s�ructin; impl^ove- ; �I rnents and ex�ensions to 'che sewera�e ' ;? systei;i of said City, and providin�; for : � �� the levy and collec�ien of a dir�ct � !� annual tax foi� the �oayment of �he prin- " cipal �.nd interest oi' said bonds . � � a� � � � � � ' WHEI�EAS, ��he Cit f Col,ancil of the the City of' Can�oil, { � � Fulton County, T11ino:i_s, by an ordinarice adont;ed on June 2, 1�5�, ; � � did call a spe ci.al e le ction to be h�ld in �zza f or said Cit�r of � � � Canton an June 30, Z95�, for the purpose cf sUbmittinu to the I� i � electors of sald Ci'�y the follotain�� U question: +, �. i; Shall bo.nds in the amount of �p170,000 be is sued y �'r py �he Ci'cy of Can�on, Fulton Gount-y, S1linois, � + for the l�urpase of payin� the cost of construct- ; �� in� improvements and e:�tensiarzs to f;he se�vera�e � j; �ystem of said City, to rnatul�e �erially �20,000 �� on December� 1 of eacY� of the years 1�61 to 1q67, ; � inclusive, and ��10,000 on December 1 of each of i �� the years 196� to 1q70, inclusive; provided, p however, said bonds shall be redeeznaale, p.rior ; �' to ma.turi�y, a� par and accrued interest in the ' � inverse order in U�hich the�T are r�u�nbered orz any :; s interest payment date, and bear inf;erest d�; the ' �; raLe of nof; to e�ceed foul� per cent (1-a-;�) per annurn? ; � ? � �` and � I s ' W�IEI�EAS, �he Ci�;y Council of said Ci�� did cause to be � 1 � ( �iven proper no�i�ice of sa_id election by ptlblishiri� notice �hereo:C � � � t� once on JUne 10, 1959, in the Canton Daily Led�er, �bein; a news- y � � paper publishe:d and of ;�eneral ci.rculaticn in said City, said no- � � ; �� tice bein� published rio� more tharl �hir. ty days nor less than fii- y �i k� teen da�rs prior to �he date oi' said election, which said no�ice as � � so �ublished did s1oeci:Cy the places �ahere such election tivas Lo be ? � i I ; held, the time o�' openin,� and closin� the polls arid the question � � t � to be voted upon; �.nc1 � ; �j W�-IER�AS, the C�t�� Council of said Cit,y by proper proceed- f �Z ; �� -� -- --- - -� ---�--a ...._a ...._._...,.a ........,�. � .�.-. _..,.. �.,...,a.. -�,-.,.,,,a .t-.t...+-. .��t -t � !.,...�-r .,,... � � � �� 6 , i, t • i � , 1 � and that a majorit�r of' the elec'co�s of said City votin�; at said � �( i �f elec�ion on said question above re:C'erred to voted in favor there- � � � �i� a of; and ; t ' i� WHLR�:AS, it is aeenled necessary a� this �imc to issue said� �, � � bonds in the p��.ncipal amount of �170,000, bearin� in�erest at the � , � rate of four �er cent (4/) per arinum, � � NOti�J, TF-ITREF'OS�, L�e It Urdained �y the Citf Co�,ncil of the � �� ___.. __ Ci�y of Canton, I�'ul�on Cotanty, Illinois, as follovls: � 1� ; � S�ct:i.on 1 . That it be and it i� hereby i'ound and deter- � ! , mined that the City Council of the Ci�y o:C Canton has been author- � r ized bJ a majori�y of the elecLors of said Cit;� votin� an the ' � � a qu�Stion a� an election duly called, noi;iced, held and canvassed � i a f or that purpose to is stae bonds of said Cit,y in the ar;zount or � �� y`�'170,000 for th.e purpose af pa�rin; the cost o:C cons�ructin;; im- ; � � p:�°ovements and ex�ens:i.ons to �he sew�ra;e sys'c�z�� o�' �aiu Cit�r, ; 9 as described in uhe preambles hereof. i a Sect;ion 2. That I.n order to .raise the sum of �170,OQ0 � rieed�d fi'or the purpose aforesaid, there be bo��ro�ved by, for� �nd i on 'aeh�,lf of the City of Canton, �+'ulton County, I1linois, the stlii� � of �>170,OOU and �o evidence said ]_oan net_,o�iable caupon bonds of � � said City be issued. Said bonds shall be des��nated "Sani�ar�j ( Sewer BotZds ", be date�. September l, 1�5y, be one hundred sevent;� � � � (l7Cj in number, numbered frorr. 1 t� 170, inclusive, k�e of tr;e dc:- $ nornin�l;iori of �1,000 each, and mature serially j 20,000 on Dec- � i 3 em'ber 1 of each of tl�e years 1961 to 1�67, i.nclusive, and `�10,000 � 6 r on Dcceinber 1 c�� each o�' �he years 196c3 to 1�70, incl_usive, �ro- � ! � vided, however, said bonds shall be redeemable, prior to rn�.tur:f.�y, $ at par and accrued interest in the inver�e order in which they are � riumbered on �.ny interest paTrment date . ! r � Written notice of its aption to call and redeem any or � , • �( � , . ' I . i . . � r � � � - � i�y re�;isterec� mail at leas�L thirt;;7 (30) d�.�Ts prior Lo the date of � � � rede�nption, and as �o any unknown hol�lers oi such bonds, such no- � �� t:Lce oi redemp�;ion shall. be pu'r�lish.ed at leas i; once not l�ss t;han i I � �? �i�irty (30) d�ys r�riox� to thi: date of redempti.on iil a netirs_oaper ' �� f �� puplished and of �;enel�al circulation in the City o:C Canton, I��ulton ¢ , �� County, Illinois, and any such notice shall describe i�he ponds ta `` i � be redeeried ancl f�he d�,te of redempt;iori, aziu upoli such notic� liavi,n;! �! been r,�ailed Lo tYie �lolder if �cnova�l, or by puulication �1lereof iP 4 ��I E un�cnat�Jn, ax�;; or all oi' such bonas so called for rede��zptiori and pay-j �� f �� rnent, ii' �ayrnent Yias been made or proviaed fol°, shall cease f;o bear; � , ; interest from ana ai ter s�.id date . ; ; 1 � i Said borlds shall bear i.riteresi, f'roin date ur�i,:;.l paid �.� �he � C� ra�e of four per c�nt (�o) per annum, payable �n December 1, 1960 � t� � p� and semi-annuall;� thereafter on chc f'il°si, da�s c�f June and Decemk�er� �� j j in eacl7 fear, whicr�. sa�.d interes� �dyrn�r�ts to date of inaturi�y of �� j �� p,.:��incip�.l shall i�e: evidenced py brop��x� interes� GOL;pons �.t'cached ` �� o each bond ar��d mr�lturin�; on �h� da�es herei.n pr°oviaed, an�. bo�h � E �o7:�inci�al and inLel�esL sl�all �e �a�raUle in lawful money of Lrie ! � Uristed States oi' America at the op'cion o�' the hol�er, eitr.er at i ` Canton Sta�e Bank ox� a� Na�i.ol�al Bank or Canton, Illinois . The ;` � seal of' said Cit�i shall 'pe aPfil�ed to e�.ch of s�id bonds and uaid ' I j bonds shall be s:i;ned by the Mayor an� be attested 'ay the Clerk of � I �f s�,id Cit�, and sai.d coupons shall be si�;ned arld at�ested by said ; �� officia�_s, respec�ively, by theil� reupective i'acsirrlile si�;natures, ; � � and said offi.cials, r�y the execuf;=i.on of said bonds, shall adopt as � �' ; `� and for theil� ovan �roi�er si.;�natur.es the�r respec'�ive facsimile si�-� �� - , - � ,� rlatures appeaz in; on said coupons . +� ; k� Section 3. `l'hat the bondu hereby au�l�orized shall be pa�r- � �� ; !� able to bearer; provided, however, �ha� such �bonds rna�r be su'aject i � i ; � i;o re�;istration as to principal in �he name of the h�lder on tYie [, �� , • � ` � i . ' � ( . � I • � �� bc�rids sa re�;isterea. No bond so re�is�ered shall be subject �o ' � `" , �rarisfer except; upon such books and sirnilai�lf noted an t;lie back i� ; i thei�eof unless �he lasi; re��is�ration sllall have been to '��earer, j ;� , �� Such registration of any of saa.d bonds sha.11 not, hov�ever, af.f'ect ' � ; thc ne�otiabzlity oi' the coupons af;f�ached to said bonds, '�ut such :' i i cota�ons shall continue transferable by deliver;yT merely. � � ; Sectioiz �F. ThaL- each o�C said �ond� and the in�erest # � __ i coupoizs to be th.ereto atLached shall be in subsf;antially the :Col- ; ( � 1 lovain�� form: � } (I'orm o:C �3orid) � � � UNITED STA`l'ES Q11 �T�R1CA ( STATE UP ILLINOIS COUNTY OF FULTON � �i i '� C I�l�' Ol+ Cl�T�1TOi`1 � I � SANIlARY SE�,iT�R BOT�dD 4 � � Numbe r ��____ 531,C�00 � i KNOW ALL P�N BY `i�-�ES� PRESETITS, that �lze City oi Canton, ' I � � I'ulton County, Illinois, hereby ac�cno�•aled�es itself �o otive, and fox� � � value received, prornises to pay �c bear•er, or° :if' t��is bond be � 1 re"isterec�, then �o the re�istered holder hereor, 'che sum of Orze ; � `L'housarid Dollars (`�l,000) ori ��ie �'irst' day of' De cember, 19 _ , to- � ��e�ther vaith in�;el�=est orl said sum fr��n� the c�ate hezeof' un�il paid t � � ' ai; the rate of' four pez� cerit (�I-;o') pe:r atznur�, payak�_le on Decemi�er 1 1�G0, and ser.�i:a.-annuall�� the.re�.f�e�� on i;he fiz�st days of' June and Deceniber in each y�ear, �r1d until rna�curi�y, upon presentata.on and � sur. rendei� oi the respect;ive iz7Lerest coul�ons heref;o attached as � � i the J severally k�e conie due and L�ayable . ! � �- ; � i3oth pl incipal. arld interesi; az°e l��ler�eb�� rnade ��ayz�.ble in. law-� � � iva_ money oi �he Uni.ted S'cat;es oi' Arne��'.ca at the opi,ion of trie � � holder, eithei� �4� C�.n�on Sf;at;e :�arliti or at; iJational i3aniti of Carlton, ; I � �( it�7 t,he City of Canton, Illiltiois . ; ; ' � , 1 . , � � . � . � i � � This bonu. is issued b sa-i�l. Ciz� i or �che � , � y ,� pl.az pose vi' »ayin� � i.��e COS'� Oi COX1S�t'UC�l:1Yl,t� 1i;1:(Ji.'OVCTileYltti `c3Ylia. e1��ensions �O trlc Se'vdE'r'-� � ; a;_,e s fs�;�nl o� :a:i.d Cii,�yr, ��uz�suant i;o and in ull res r�e cts �.n corn- � 1 �� aliance wit'rl t��c "�evised C;ii.,ies a��d Villa�,es AcL", effec„i.ve f Januar � 1 1.��2 ai�c� a11. a s ame � a ��• � - - � y , .� , ct nd toz,� theieo� ar�a su��plenleni,ar;� I { �?iel�e�o, ar�d is au�l�i��ized by a ma j ority of the elc ctors oi said � �' � 4 � C:i�y vo�ina u�c_z ;,lic a1uestioxz a.t ari elect:S.en duly called, noticed,� ��elu, and canvassea for that pur��o�tie in s��,id Ci�`r, and in compli- ± � ance with an ord�nance duly ��ussecl 'r�r tla.e Cit�r Council of �a-�d � I �� Cit��, arld r�ubl:i�heci, �.n �11 ��e�pects as b�r lalr required . � i ( Thi.� bo}Za �s :�r,.e oi axl aut;l�c�rizec� is�ue a"�;re;,a�in,�; �he � i, � pr�.nc_i.pal arrioL?nt of �;1'`j0,000 numbez�ed firor_Z 1 �0 170, izzclusiv�, � � � of' the denor.linatio�z of �,1,000 ea.ch, �zrld s��.id bonds are re�.eem�.ble,� 41 � f' �.�rio� �o matuz�i��r, a.'c ;��.i� arld accr��e�t i.n�e_°est irl �he -�nverse � I� - s � � � OY'C�.�°{ 1i1 l�Jr17.C7�1 t�.}"1�';J �:C'E; Y?Ui71��r'CCI� OT7 �-�21;y 1.Y1�-C'r'GS'G ;�u,;,Ia:�i1i; C'lc^...t:C' � �; upot; no'cice :.�nec:if�=in;, the rl��rnl�en of ti.� oonc� and d�,te of redemp- � � ` , � � ' t��orl, ,�ivezz i�y re�i�tered r.zZil �o tl�e I�,alder, if l�notvn, anc� a� to : i � any unl�nown holder, such r�.otice �;1.._�.11 'pe publ_tNhed at least once ` in a ize��s��a�er publi�hed �.nd of �;enex�al cii cl.�la�ion in tl�e CitJ o� _ , i C�.n�on, Illinois . `l'he rnailin�; af' sLCh notice sha�l be a� 1cas� � thirty (30) d�;r� ��,recedin� such reder��tio�z date, and the pu��li.ca- t , r � � i �ion oi said nct;�ice ,�ral� bc at le�.ut tl�'�r'c�r (�U) da;�s y�recedin� � � ^ucr reden:ptio�� d��e, a.ria v�l��n thi� bo�zd shal? have been cal)_ea i �' � ' foyr l�edemption and pa.�rr�.en'c r.zade cr ��=�ov�ded foi�, inL�rest therean � tiha11 cease frorn and after tY�e date sa �nc:ci�'ied. ; 1 { It is hereb„r cei�t��_fied and l�eci�ed tr��a.t �11 a.ctN, condi- � ,( 'l L • J J_ • 1 � �.1.OY2S ��,Y1C,1 l:ri.7.T1'';`,�S i G'C.yl':1�.'E.':ax }J�T 'Gr?E.' C.OY1S t,1 i.L?lJ_LOI1 321C7 lu'.�f7,� Of' l.�"?E.-' � - 1 �i�4�-Ge OI Illinois� �O G1i-!S i, 01" 'GO I:C' C�Ol`?e� �r'e ceden� 'l:0 u.Y1C�. 1Y1 trlC� i � ��s�uance of �l�is bond, 1��.ve e_�istec� �and have Y�een y�r�or�ez°ly clane, � i � fi ?�an,�nr�nrl an� n4�nn nnrf'�rrnrnr� -in rn�^iila,� ��nrl r�i�r� fn�,r� anl 1--i�m� a� � � � � ' l . . � � { �, • � � . # ,��e�i��sented b�y th�_s '�ond and t�1e isuue o� �•�hich. it forn:s a �?art, � _ s and inc_ludin� all other indeb�edne,�" of said Cit�, l�o�asoevex° evi.- ; 0 � denced �.nci irlcul r�ed, ��oes noi, e�-.ceed an�r con.�'c_i_tution�.l or s��u- � �, ; �� ;or�T limita�ion, and th�� pr�ovision has ',�een made f'or the colle cta.o� �� of a di�.�ect annua_l ta��, in addit'LOn 1;0 �.Il oLher taxes, on a.11 of' ; ; � �jtl;e �a��able �ro�crty in s�a.�.d Cit;y� �ui'ficient �o ��a„r t}�e int�res�; ' � , �' hel�ecn as the same i'�.1_1s due and al��o Lo pay �nd d=i.schar�;e the �rin� � # ' ci.p�.l rereol at rr�turit;y, , ,� �i This band is sU'��ec� to re�,istra�ion a� �a � .r_�ncipal in ' � � i� the name ot' the holaer on i,h.e boo�_s of �Y�e Cit� Treasurer, such �e;_�istra�;ion �o be evidenced by no�ation o:� such Treasurer on �he � � i �� back hereof', ancl af't�r stach re�,ist:�°�.ti.on rio tx�ansfer hereof, exceptd �� u�on suc�1 books and similarlJ noted heti�eorl, shal_Z b� valid unless ; ( Q � the last re�i�tl°atiori sh�l1 have i�een ta �earer. �e:;is cr•atiorZ ! � � �� hereo� sl:all t�ot affect ��Ze ne„otia�_t�.it�r of �he cot�pons hereto ; �I � � attached ti�ah:�ch sYiall corztinue � ne��o�i�3,b1� by deliver��r merel;�, no��- � ! �� ti•aiths�andin� re�,istration hei�eof. � �� r,T �r'c T � �n � r � Ii1 UJIl��L�� 1IIE�LEOF, ,�aid Cit;;r of Canton, Fultcn Co��nty, t� Illinois, by i�s City Counci�, 7,as causecl it�:> cor��o�°ate �eal to be ; �� hereunto afr il�ed and �chi� bond to be Ni�ned by the M��Tor of said j il � !( Ci�y �.nd attested by its Ci�f;�r Clerk, and �;he cc�upons hcreto at- 9 ;1. �� t�ched to be s:��n�d a}zd a��ested but said of:Ci.ci�.ls, respec�ively, (; b�- the:ir° iacs�_rzi�.e ��_;_;natures, a.nd s�.�.id ol'fic:ials do, by th.e e:ecu-� d i �� tion hereof, adopt; as and for tY1e�.� o�^an ,��roper si�nai;ures their �I � , ' �.�eunec�i.v� facsir;lile �_i;na�ures appear:i.n" on said colapons, al]_ as ? � i �, of the first aay o�: September, l�>>. � �� ' CTTY OI1' C�NTOT� � �� i l � ,. _,__._.__.�___ N1a�or'____.._ __________ ; ! { j Attest: ' �'I �1 � 3�- � � � . . � , i � � � I + ( (I+�orm of Caupon) � I� � T;umbe r ; � -___._ _ �---_.._. � ;+ � !� On the f irst day ol' , 1� , �he Cit;y of � y� __.____ __.._. ..`.._ _... ! ! �� C�,nton, I'ulton Count;/�, I11.�nois, v�ill pay ta bearea�� _________-_---^rt 3 � � i�' Doll�r� �� - ' ___._______.__--_ _._...______.__.____. (y ) in lat�rful ,� _.__ _____-_. 3 money o� the Unite�. Sta�es oP �1i,1e_°ica a� t;Z�e option of the holder, � �; # `� either at Canton Sta�e I3an1�: or at Na'cior�al l�an1� of Canton, in the � � Cit�r of C�.nton, Illinois, for interest due tl�lat da�r on itu Sa.zi- ; � �� tary Sc��aei� �ond, aated September 1, 1q59, Tdumber � __�____ ; -� i __.___.___.__.__.__.---_._._ _�,__.._.__ _.__ � i Niayor � � �ttest: � � 1 � ._.__._.. .___C i t;;T C 1 e rk .______-------- { � � i (�orm for Re;istr°at�ori �.s to Principal ) � ! Daf;e of SiMnaturc oi' r �E i> � 4� �e.;is-�ra�.Lon TJaz;le of Re�_,is�;ered Uti�nez� Ci�y Tre�.sUrer _`� �! _..._.__ .___.._...__.� __. _ ___._ .___�..�., -____��.. _. _..�_.._._.__.._._ f i f -----.�._...�_ ___.��._.._._____r _».__..___.._ .�_�_.T__._..___.._..._� �, � �I _..r�._.---.r _�._.____._.___.._.____-------- ' �...._---.-�.._. ��._� � � Sec�ion 5 . That for tr�e purraose o1 prov-�.din;� �lze z"z;nds re i quired to pa� f;he interes�; on ��,id bonds prornpf;ly tiahen and as the � I ' ;' same fa11s due, and to pay and disek�iar�;e �he principal thereof at; � (j ; ! ;� maturity, there be and �here is here�y levied ur�on a.11 t�1e ta:�ab]_e � � �; � �� property w:ith.in said City, in eacll ye�,r G�ahil_e any oi said bonds � R � `� ai�e ou�;stand:i.n�,;, a direct �.nnua.l ta1> slaf':Cic:ient .�or Lha� purnose, ; i and that �here be and thei°e i.s Y�ereb�r ��v.i_ed on all of the ta�able � I ; property in sai.d Cit;y, in additiori �o all other talLes, ti��e i'ollow- i , s � �i in�; direc� annual ta<�., to vait: �� i � � i � i ,� ` � E� _ . �( , � � � . � . . � ' - � 4 � � For �he fear 1�59, a ta:> suf'f'ica.en� to produce the � sum ot ya11,�00 f'or interest u.�� i,o and incl_udin� � June 1, �.g6i; i � �� For 'che ;,rear 1960, a taJ� sufficient to produce the # � su� of �26,400 fol� i.rl�eres�; and principal; i ! For the �re�.r 1�61, a ta�. sufi'.�cient to ��:�:°oduce the f � sum of �25,600 For interes� and princ��.pa.l; � �' Poi� the year 1�62, a t�;; si�f:Cicient t;o prod�,acc the ; sum of ��21r,u00 i'or inte.rest and p��inci;�al; � �; i �j Poz� i,he ;�eal� 1�63, a tax sufPicienL to pr=oduce the ' I sum of �2��,000 for inte�:�est and nl°inci�al; � � i For the year 1g6�, � �a:, rur:['icient t;o produce the � �� surn o�' y�23,200 foz� intere�t arld p_°incipal; ,s �i� E+'or the ycar 1g65, a tax su:C'fic:iexzt Lo proauce the ? ; +, sum of �22,�-00 for in�erest ar�d p�°�i.ncipal; � � � , Ii'o�� the year 1�66, a t�.:�; sufficient to proc�ucc f;r�.e sum of �21,600 for inte.resf; and pr•incipal; � Por �he year 1�67, a tax sia�'fi.cienL Lo oroduce the � � sum of �}�11,000 Fo�.� interest anu �rixzcipal; ? s '� I+or the Jear 1�60, a taY sufiicient �;o nroduce the ? (� uum of �10,60Q i'or intere:st and �r_i.ncipal; ana ' ; b �+�'ol° the ye�.r 196�, a tax suff'ici.ent �o procluce Lhe ! ; �um of <�10,200 for interest; azzd princ_ipal . � � � That irlterest or principal comin�_; due at any tirne tiahere ? � f;here ar� insuff icien� funds on h�.nd to �ay the same be paid i 3 I pi�orr�ptly vahen due fror.n current itznds on hand in advancemen� of the collection of said ta;ces herein levied, and when said taxe� shall ? h ± have been collected reimbursemeri� shall be made to the said iunds � � in the amounts tl�us aclvanced. ; i Sect;ion 6. Th�tt fartht�aitYi as soon as this ordinance be- � � _ i comes ef�'ective, a copy hereof cer�.i:Cic:d by the Clerk of said Cit�r,; i which certif'icate shall recite that tr�is ordin�nce has been passed ; 1 � � b� �he Ci�y Council of said City �.nd published, shall be i'iled with; i� the County Clerl� of Fulton County, Tllino:is, �al�lo shall in and for � � each oi the years 1�5� to Zg69, inclusive, �.�certa:i.n the rate per � � cenL l�equired to p:��oduce the a�;r��ate ta:�> hereinbero .re provided to� � � • ' + + , . .� . � � � . , i _ � � ' ; i f i � � ; levied iri each o:C said years, respectively, in and by said City fori ; f � �eneral cor�orate nurposes of �aid Ci'cJT, ancl in each of' sai.d years s _ � j :�uch. annual ta;� shall be levied and collec�ecl by said Cit�� in like f � c manner as taxe� for ;erlel�al corpo��ate pu:.»>>oses fo�.� each of said � s i years are levied and collected, ancl c�aheri collected such t�.r>es sha11 ! � �� be used sol.ely fo�.� the purpose oS' pa��iri;; p:,�incipal atzd ini:c:rest =• � ur�on �he bonds her.ein authol��.zed �^ahen sarr}e ma'c�21 e . � -. � � Sectiorl 7. Thai; the fLanc�s de�.�ived fror.l the ta<ies herein � � E �� 1��ried be and trtie sanlc are hereb;;r ar�pro�i�ia�ed anc� set asicle i'or � , E� � I� the sole and only i�urpose of pa�Tin�-• i�ri.ncipal of :�nd i}�terest on i, . _ �� s�.id bonds ��rhez� and �.s same becorne due . That �h� fl�nd,s dex�iveci � ; fi�om �he sale of said bonc�s be �nc� they are �zer�by appropriat�d an�� 0 ` set asi.de foz� �he j�U?.''�OSG here��nbefore set out. � � � Section 3. That forth?Arit;h aftei� th.is ord:�n�.nce has become ' � effective as provir�ed by law, the bonds herein authori2ed shall be � 1 ' ! executed an� delivered to the lreasurer of said City and be by hiin - � � 3 � delivered t,o Gaiztol� ata�e �ank aiid ldational L3anl� af Cantorl, :Car7'cvri,� �I � t Illinois, �he ;;�urcha�ers �hereol, upan receipt �f i,he �u7�cY:asG ij price thel�el or�, ua�,le f;o be not less �crian tlze par value oi sa_ici �bond�, !s Ij plus accrued incerest to date of del:i.ver�r, contract i'ar t;he ;�ale of; �( i �j sai.d 'r�onds to said purchasers, Y�el�etoL"ore entered into, be and tr�:e � � same is rie�eby 3.r�i all respects ratii'xed, approved and confii�rned. � ; � Se��ori � � -�- � . Ti1at all o�°d:i.n�nces, resolu�i.oris and ol�ders, ar� �� narts the-reof, in con:Plict h�z�e�^aitii, be and i,he same a�e l�ereby re-e I , i; ! pealed arid th�is ord:I.na�lce shall �e iri i'u11 f orce arzd ei fe et upon ; � `i.ts ,passa�;e and publication as provided by lativ. ( � i; Passed _.__._ - ls� ___,� 19�9• , ;! � �( �pproved �,S � , 195� . ? i _... I f Pu'�lished a��_ _, 1959. � w .�----, .v _ . ;