Page 1 ORDINANCE NO. 12537 AN ORDINANCE TO AMEND ORDINANCE NO. 1251 OF THE CITY OF PRICHARD, ALABAMA, ENTITLED AN 5 1 5 1 2 7 1191 321 181 24 96.134293 ORDINANCE 4 1 5 1 3 0 366 353 1007 33 -1 5 1 5 1 3 1 366 353 39 24 95.818054 TO 5 1 5 1 3 2 429 354 142 24 95.818054 PROVIDE 5 1 5 1 3 3 593 355 62 24 95.697121 FOR 5 1 5 1 3 4 674 355 61 24 95.697121 THE 5 1 5 1 3 5 759 355 161 24 96.297043 ISSUANCE 5 1 5 1 3 6 944 356 40 23 96.873528 OF 5 1 5 1 3 7 1007 353 159 33 96.695587 $500,000 5 1 5 1 3 8 1191 355 182 25 96.013191 PRINCIPAL 4 1 5 1 4 0 368 388 944 26 -1 5 1 5 1 4 1 368 388 120 24 95.471024 AMOUNT 5 1 5 1 4 2 511 389 40 24 96.971863 OF 5 1 5 1 4 3 574 389 141 24 96.486046 GENERAL 5 1 5 1 4 4 738 390 204 24 95.981094 OBLIGATION 5 1 5 1 4 5 964 390 143 24 96.502678 SECURED 5 1 5 1 4 6 1129 389 183 25 96.391685 REFUNDING 4 1 5 1 5 0 366 421 963 32 -1 5 1 5 1 5 1 366 421 180 31 95.777992 WARRANTS, 5 1 5 1 5 2 572 422 122 24 96.249329 SERIES 5 1 5 1 5 3 720 423 93 30 96.848923 1970, 5 1 5 1 5 4 841 423 40 25 96.527832 OF 5 1 5 1 5 5 901 423 62 24 96.756950 THE 5 1 5 1 5 6 987 423 77 24 96.352448 CITY 5 1 5 1 5 7 1088 423 40 23 96.352448 OF 5 1 5 1 5 8 1151 423 178 30 96.840637 PRICHARD, 4 1 5 1 6 0 367 454 965 32 -1 5 1 5 1 6 1 367 454 179 32 93.822685 ALABAMA; AND TO MAKE CERTAIN FINDINGS WITH RE-~ SPECT TO THE TAX PLEDGED FOR THE WARRANTS AUTHOR- -IZED IN THE SAID ORDINANCE NO. 1251 BE IT ORDAINED by the City Council (herein called the 5 1 6 1 2 2 369 719 177 38 67.327393 Council) of Prichard (herein called the 5 1 6 1 2 8 1234 728 136 33 94.826683 City), in the State of Alabama, as follows: . Section A. Findings. The Council hereby finds ro “ana declares that the following facts are true and correct: ; (a) On September 26, 1960, the Council adopted Ordinance No. 880 of the City entitled AN 5 1 8 1 4 9 1152 1207 182 24 96.628853 ORDINANCE 5 1 8 1 4 10 1355 1207 40 23 95.907585 TO 4 1 8 1 5 0 268 1273 1189 27 -1 5 1 8 1 5 1 268 1275 79 24 96.321899 LEVY 5 1 8 1 5 2 371 1276 38 24 96.632385 AN 5 1 8 1 5 3 432 1276 203 24 95.790390 ADDITIONAL 5 1 8 1 5 4 657 1275 142 24 95.698715 LICENSE 5 1 8 1 5 5 822 1275 60 23 96.061974 TAX 5 1 8 1 5 6 902 1274 124 24 96.559669 WITHIN 5 1 8 1 5 7 1047 1274 61 24 95.983078 THE 5 1 8 1 5 8 1132 1273 78 25 95.839264 CITY 5 1 8 1 5 9 1234 1274 39 23 96.922707 OF 5 1 8 1 5 10 1296 1273 161 24 96.458435 PRICHARD 4 1 8 1 6 0 268 1315 1148 60 -1 5 1 8 1 6 1 268 1315 60 54 96.633080 AND 5 1 8 1 6 2 351 1344 56 25 96.144707 ITS 5 1 8 1 6 3 432 1344 121 25 95.977158 POLICE 5 1 8 1 6 4 574 1342 284 33 94.942902 JURISDICTION, wherein there was levied a special privilege or licerise tax on persons, firms, or core porations engaging in the business of selling tangible per- sonal property at retail or on the business of conducting _ Places of amusement or entertainment, the said tax being measured by the gross receipts or gross proceeds of such ~ businesses; the said Ordinance No. 880 was subsequently amended by Ordinances Nos. 977, 1007, 1182, and 1197 of 4 you, the City adopted respectively on February 2, 1965, March 1, 1965, February 24, 1969, and April 9, 1969; (b) On May 31, 1965, and pursuant to authoriza- a tion in the City's Ordinance No. 1024 adopted May 10, 1965, : A, the City issued its (i) $823,000 General Obligation Secured Refunding Bonds, Series 1965, dated May 1, 1965, (11) Page 2 $164,000 General Obligation Sécured Refunding Warrants, Sex ies 1965, dated May 1, 1965, (i111) $1,467,000 General Ob- -ligation Secured Refunding Warrants , Series 1965A, dated May 1, 1965 (all the said bonds and warrants dated May 1, 1965, being herein called the 5 1 2 1 5 6 866 489 78 32 96.890907 1965 5 1 2 1 5 7 968 490 261 33 94.831757 Securities); the said Ordinance No. 1024 sets forth a special pledge for the bene- Pit of the 1965 Securities of the said tax levied by the said ‘Ordinance No. 880, as then amended, to the extent that the said tax was levied with respect to business conducted within the corporate limits of the Citys; (ec) On May 20, 1969, and pursuant to authoriza- _ tion in Ordinance No, 1205 of the City adopted May 19, 1969, the City issued its $1,000,000 principal amount of General Obligation Secured Warrants, Series 1969; the said Ordinance No. 1205 sets forth a special pledge for the benefit of the said Series 1969 warrants of the privilege or license tax levied by the said Ordinance No. 880, to the extent levied with respect to business conducted within the corporate limits of the City, the said pledge of the said special privilege or license tax being (in accordance with a privi- lege reserved by the City in the said Ordinance No, 1024) on a parity with the aforesaid special pledge | for the bene- . fit of the 1965 Securities; (d) On June 1, 1970, the Council adopted Ordi~ nance No, 1245 of the City entitled PURSUANT 5 1 5 1 2 9 1174 1994 41 24 96.808952 TO 5 1 5 1 2 10 1236 1994 60 24 92.009178 THE 5 1 5 1 2 11 1320 1994 79 24 89.147873 PRO- 4 1 5 1 3 0 231 2054 1164 42 -1 5 1 5 1 3 1 231 2054 143 37 96.172791 VISIONS 5 1 5 1 3 2 397 2067 39 24 96.062691 OF 5 1 5 1 3 3 457 2066 62 24 95.565414 ACT 5 1 5 1 3 4 539 2066 54 25 73.594467 NO, 5 1 5 1 3 5 623 2066 76 30 95.845070 917, 5 1 5 1 3 6 724 2065 144 24 96.304276 REGULAR 5 1 5 1 3 7 890 2064 141 24 96.491020 SESSION 5 1 5 1 3 8 1053 2064 223 24 95.907928 LEGISLATURE 5 1 5 1 3 9 1300 2061 95 33 96.698570 1969, 4 1 5 1 4 0 231 2124 1128 45 -1 5 1 5 1 4 1 231 2133 62 24 96.259537 THE 5 1 5 1 4 2 316 2133 181 24 95.868713 ORDINANCE 5 1 5 1 4 3 520 2124 120 33 96.749367 LEVIES 5 1 5 1 4 4 663 2133 20 23 96.883247 A 5 1 5 1 4 5 705 2131 199 30 88.918472 PRIVILEGE, 5 1 5 1 4 6 931 2131 140 24 96.449448 LICENSE 5 1 5 1 4 7 1095 2131 40 23 95.663239 OR 5 1 5 1 4 8 1155 2130 121 39 95.862091 EXCISE 5 1 5 1 4 9 1297 2130 62 24 95.339439 TAX 2 1 6 0 0 0 39 2189 17 38 -1 3 1 6 1 0 0 39 2189 17 38 -1 4 1 6 1 1 0 39 2189 17 38 -1 5 1 6 1 1 1 39 2189 17 38 47.112812 ten 2 1 7 0 0 0 233 2191 1166 101 -1 3 1 7 1 0 0 233 2191 1166 101 -1 4 1 7 1 1 0 233 2191 1101 40 -1 5 1 7 1 1 1 233 2201 142 25 96.299393 AGAINST 5 1 7 1 1 2 397 2191 160 40 91.234581 PERSONS, 5 1 7 1 1 3 581 2200 100 24 95.878448 FIRMS 5 1 7 1 1 4 706 2201 39 23 96.030411 OR 5 1 7 1 1 5 768 2200 242 23 95.989426 CORPORATIONS 5 1 7 1 1 6 1033 2199 158 29 96.445312 STORING, 5 1 7 1 1 7 1217 2199 117 30 96.621613 USING, 4 1 7 1 2 0 234 2252 1165 40 -1 5 1 7 1 2 1 234 2267 181 25 95.669868 OTHERWISE 5 1 7 1 2 2 439 2267 183 24 96.200554 CONSUMING 5 1 7 1 2 3 644 2267 40 23 96.200554 OR 5 1 7 1 2 4 705 2266 143 23 96.299843 ENGAGED 5 1 7 1 2 5 871 2252 38 37 95.619446 IN 5 1 7 1 2 6 930 2266 60 23 95.619446 THE 5 1 7 1 2 7 1013 2264 160 24 95.706810 BUSINESS 5 1 7 1 2 8 1197 2265 40 23 96.620865 OF 5 1 7 1 2 9 1258 2264 141 24 96.596649 SELLING 2 1 8 0 0 0 234 2333 1164 28 -1 3 1 8 1 0 0 234 2333 1164 28 -1 4 1 8 1 1 0 234 2333 1164 28 -1 5 1 8 1 1 1 234 2337 39 24 93.243088 AT 5 1 8 1 1 2 296 2336 119 25 96.612350 RETAIL 5 1 8 1 1 3 436 2335 165 25 96.245163 TANGIBLE 5 1 8 1 1 4 624 2334 163 25 96.584435 PERSONAL 5 1 8 1 1 5 809 2334 161 24 96.178734 PROPERTY 5 1 8 1 1 6 993 2334 40 24 95.872986 OR 5 1 8 1 1 7 1055 2333 202 24 96.706436 CONDUCTING 5 1 8 1 1 8 1278 2333 120 25 94.507835 PLACES 2 1 9 0 0 0 747 2676 59 26 -1 3 1 9 1 0 0 747 2676 59 26 -1 4 1 9 1 1 0 747 2676 59 26 -1 5 1 9 1 1 1 747 2676 59 26 0.000000 -~4e 2 1 10 0 0 0 35 2821 556 6 -1 3 1 10 1 0 0 35 2821 556 6 -1 4 1 10 1 1 0 35 2821 556 6 -1 5 1 10 1 1 1 35 2821 556 6 95.000000 2 1 11 0 0 0 795 2821 342 4 -1 3 1 11 1 0 0 795 2821 342 4 -1 4 1 11 1 1 0 795 2821 342 4 -1 5 1 11 1 1 1 795 2821 342 4 95.000000 2 1 12 0 0 0 1461 302 14 10 -1 3 1 12 1 0 0 1461 302 14 10 -1 4 1 12 1 1 0 1461 302 14 10 -1 5 1 12 1 1 1 1461 302 14 10 23.637123 ue 2 1 13 0 0 0 1276 2820 405 3 -1 3 1 13 1 0 0 1276 2820 405 3 -1 4 1 13 1 1 0 1276 2820 405 3 -1 5 1 13 1 1 1 1276 2820 405 3 95.000000 Page 3 OF AMUSEMENT In THE CITY oF PRICHARD, ALABAMA, OR WITHIN ots POLICE JURISDICTION; PROVIDES FOR THE COLLECTION OF THE SAID TAXES; PROVIDES PENALTIES FOR THE VIOLATION OF THIS ORDINANCE; AND REPEALS A PRIOR ORDINANCE LEVYING SIMILAR TAXES", in Section 1 of which there is levied a special privilege or dicense tax (1) on persons, firms or corporations engaging within the corporate limits of the City in the business of selling tangible personal property at retail or in the business of conducting places of amuse~ ment ‘or entertainment, and (41) measured by the gross re= ceipts or gross proceeds of such businesses; on June 26, 1970, the Couneil adopted Ordinance No. 1247 of the City which amended the said Ordinance No. 1245 by changing its “effective date from July 1, 1970, to August 1, 1970; The said Ordinance No. 1245 expressly repeals the said Ordi- nance No. 880 and all amendments thereof, the said repeal being set forth in Section 9 of the said Ordinance No. 1245; and the gross receipts tax levied by Section 1 ofthe Said Ordinance No. 125 is in substance and effect a con- tinuation of, and the same tax as, the gross receipts tax levied by the City's Ordinance No. 880, as heretofore amended 5 Ce) On July 28, 1970, the Council adopted Ordi- nance No. 1251 of the City wherein it authorized the issu- ance of and sold the City's $500,000 principal amount of General Obligation Secured Refunding Warrants, Series 1970, to be dated May 1, 1970 (herein called the 5 1 4 1 5 10 1120 2057 116 25 96.713257 Series 5 1 4 1 5 11 1264 2058 77 28 96.713257 1970 4 1 4 1 6 0 213 2115 1227 51 -1 5 1 4 1 6 1 213 2115 222 34 95.890053 Warrants); the said Ordinance No. 1251 contained provisions for the pledge for the benefit of the Series 1970 Warrants’ of the city's gross receipts tax; the said tax is, however, referred to in the said Ordinance No. 1251 as being levied 1B Page 4 aR by the City's Ordinance No, 880, as amended, and the form of the Series 1970 Warrants, which is specified and set forth in Section 14 of the said Ordinance No, 1251, contains a reference to the pledge of the said gross receipts tax and refers to it as being levied by the City's Ordinance No. 880, as amended; (f) The Series 1970 Warrants have been printed; the Council has been advised by counsel that the erroneous reference in the printed Series 1970 Warrants to the ordi- nance levying the presently effective gross receipts tax . does not affect the validity of either the Series 1970 Warrants or the validity of the said special Pledge for the benefit thereof; the Council has concluded, therefore, that it is unnecessary that the City incur the expense and delay of having the Series 1970 Warrants reprinted; and apes (g) It is necessary and desirable that the said Ordinance No, 1251 be amended so'as (i) to refer to the said pledge of the City's gross receipts tax for the benefit of the Series 1970 Warrants as being a pledge of the tax levied in Section 1 of the said Ordinance No. 1245, as amended by . the said Ordiriance No. 1247, rather than a Pledge of the tax levied by Ordinance No. 880, as amended; and (11) so as to ' . provide that the reference to the City's gross receipts tax in the warrant form set forth in Section 14 of the said Ordinance No. 1251 shall be deemed to refer to the City's _ BOSS receipts tax that is actually now in effect, L.e@., the gross receipts.tax of the City levied by the said Ordi- nance No. 1245, as amended. vs -6~ \e Page 5 aA Section B. Amendment of Section 1, Ordinance No. 1251. Section 1 of Ordinance No. 1251 of the City adopted July 28, 1970, and entitled AN 5 1 3 1 3 8 1065 351 182 27 96.274384 ORDINANCE 5 1 3 1 3 9 1270 356 39 23 94.422676 TO 4 1 3 1 4 0 242 392 1147 57 -1 5 1 3 1 4 1 242 392 140 29 96.756622 PROVIDE 5 1 3 1 4 2 405 399 60 25 96.286621 FOR 5 1 3 1 4 3 485 401 63 26 95.679398 THE 5 1 3 1 4 4 569 404 162 28 96.676956 ISSUANCE 5 1 3 1 4 5 755 410 40 24 95.793037 OF 5 1 3 1 4 6 818 409 161 35 95.791649 $500,000 5 1 3 1 4 7 1002 416 184 28 96.312729 PRINCIPAL 5 1 3 1 4 8 1207 422 121 25 96.688644 AMOUNT 5 1 3 1 4 9 1350 425 39 24 79.789650 oF 4 1 3 1 5 0 241 463 1203 64 -1 5 1 3 1 5 1 241 463 141 29 96.030014 GENERAL 5 1 3 1 5 2 403 468 204 30 47.701263 OBLIGATION 5 1 3 1 5 3 629 476 143 26 95.598701 SECURED 5 1 3 1 5 4 795 481 184 35 95.642311 REFUNDING 5 1 3 1 5 5 999 486 179 34 96.113953 WARRANTS, 5 1 3 1 5 6 1205 491 119 26 95.767639 SERIES 5 1 3 1 5 7 1350 494 94 33 96.246429 1970, 4 1 3 1 6 0 238 530 1165 60 -1 5 1 3 1 6 1 238 530 41 23 96.310379 OF 5 1 3 1 6 2 299 531 61 26 96.310379 THE 5 1 3 1 6 3 383 535 78 25 96.180176 CITY 5 1 3 1 6 4 484 538 41 24 92.743523 oF 5 1 3 1 6 5 547 535 178 44 96.534676 PRICHARD, 5 1 3 1 6 6 750 546 180 34 93.283295 ALABAMA, shali be and hereby is amended so that the said Section 1 will read as follows: Section 1, Definitions and Use of Phrases, aes and vse of Phrases {a} Definitions. The following words and phrases, in the absence of clear implication herein otherwise, shall be given the following respective interpretations where used in this ordinance: Additional 5 1 7 1 1 2 680 985 118 31 96.526894 Parity 5 1 7 1 1 3 823 990 221 29 96.281464 Securities means any securi- ties which The City may at the time of issuance be author- ,ized to issue and for the payment of the principal of and Annual 5 1 9 1 1 2 590 1258 79 25 95.475449 Debt 5 1 9 1 1 3 694 1260 141 27 96.243637 Service 5 1 9 1 1 4 858 1265 37 24 96.243637 Re 5 1 9 1 1 5 918 1267 182 26 61.426643 uirement™ 5 1 9 1 1 6 1125 1277 97 20 96.846352 means 5 1 9 1 1 7 1247 1274 58 25 96.793724 the 4 1 9 1 2 0 221 1286 1165 57 -1 5 1 9 1 2 1 221 1286 118 25 95.835091 amount 5 1 9 1 2 2 365 1288 39 25 96.222298 of 5 1 9 1 2 3 423 1290 184 32 96.449860 principal 5 1 9 1 2 4 631 1295 61 24 96.001617 and 5 1 9 1 2 5 714 1297 160 27 96.001617 interest 5 1 9 1 2 6 897 1301 122 33 96.395187 having 5 1 9 1 2 7 1043 1310 17 19 95.398094 a 5 1 9 1 2 8 1082 1305 122 27 92.373558 stated 5 1 9 1 2 9 1225 1309 161 34 95.424957 maturity 4 1 9 1 3 0 220 1317 423 39 -1 5 1 9 1 3 1 220 1317 122 34 96.251297 during 5 1 9 1 3 2 363 1327 18 20 96.307236 a 5 1 9 1 3 3 404 1322 120 28 85.778984 Fiscal 5 1 9 1 3 4 547 1326 96 30 96.727768 Year, 2 1 10 0 0 0 1342 1397 34 10 -1 3 1 10 1 0 0 1342 1397 34 10 -1 4 1 10 1 1 0 1342 1397 34 10 -1 5 1 10 1 1 1 1342 1397 34 10 26.941315 woth, 2 1 11 0 0 0 215 1418 1150 105 -1 3 1 11 1 0 0 215 1418 1150 105 -1 4 1 11 1 1 0 424 1418 941 56 -1 5 1 11 1 1 1 424 1424 140 30 95.376183 Called Warrant" means a Warrant that has been called for redemption pursuant to the provisions of Sec- tion 5(a) hereof, : City means the municipal corporation of Prichard in the State of Alabama and includes its successors and as- Signs and any municipal corporation resulting from. or survive ing any consolidation or merger to which it or its Successors may be a party. City 5 1 13 1 1 2 536 1837 118 27 96.180183 Clerk means the city clerk of the City. City 5 1 14 1 1 2 532 1940 201 28 90.940651 Treasurer means the city treasurer of the City. . Council means the governing body of the City as from time to time constituted, Coupons means the interest coupons provided for herein which evidence the interest on the Warrants. Page 6 Cw “Financial Journal” means a journal devoted . primarily to news of financial matters and having general . : Circulation among thosé interested in financial matters. Fiscal 5 1 4 1 1 2 622 411 99 28 95.247581 Year means a fiscal year of the City beginning on any October 1 and ending on the next ensu- ing September 30. , Former Gross Receipts Tax" means that certain privilege Sr Ticense tax of the City levied by Ordinance No. 880 of the City Adopted October 3, 1960, as amended by Ordinances Nos. 977, 1007, 1182, and 1197 of the City adopted’ respectively on February 2, 1965, March 1, 1965, February 24, 1969, and April 9, 1969, on persons, corpo- rations and others engaging in the business of selling at retail tangible personal property and on the business of conducting or operating places of amusement, and meas= ured by the gross receipts or gross proceeds of such busi-~ nesses, to the extent that the said tax is levied with re- spect to business conducted within the corporate limits of the City. . Gross 5 1 7 1 1 2 604 1065 160 26 95.700081 Receipts 5 1 7 1 1 3 788 1062 81 26 92.852959 Tax means that certain license .or privilege tax of the City levied by Section 1 of the 1970 Gross Receipts Tax Ordinance on persons, firms or cor= porations engaging within the City in the business of sell~ ing at retail tangible personal property and on the business of conducting or operating places of amusement or entertain~ ment, and measured by the gross receipts or gross proceeds of such businesses. 1970 5 1 10 1 1 2 586 1407 98 23 95.696014 Gross 5 1 10 1 1 3 708 1406 161 28 96.164726 Receipts 5 1 10 1 1 4 893 1406 61 24 95.221466 Tax 5 1 10 1 1 5 977 1402 200 28 81.676033 Ordinance means Ordi- nance No, 1245 of the City adopted June 1, 1970, as amended by Ordinance No. 1247 of the City adopted June 26, 1969. Interest 5 1 11 1 1 2 669 1577 139 28 95.602608 Payment 5 1 11 1 1 3 833 1575 97 26 57.237091 Date means any May 1 or November 1 during the period beginning November 1, 1970, .and continuing until and including May 1, 1990. Mayor means the mayor of the City. Month means a calendar month. Newspaper means a journal or newspaper printed in the English language and customarily published not less than five days during each calendar week. “Ordinance No. 1024" means Ordinance No, 1024 of the City adopted May 10, 1965. : “Ordinance No. 1205" means Ordinance No. 1205 of the City adopted May 19, 1969. ~8- Page 7 vA, ' 7” : “NOrdinances Nos. 1024 and 1205" means Ordinances No. 1024 and Ordinance No. 1205. Outstanding 5 1 6 1 1 2 672 440 119 28 96.315247 Parity 5 1 6 1 1 3 815 437 222 28 91.381912 Securities means those of the 1965 Parity Securities and the 1969 Warrants that now remain outstanding. Outstanding 5 1 8 1 1 2 670 607 182 27 96.067261 Warrants means the General Obliga- tion Warrants both dated May 1, 1970, which are referred to in subsection (a) of Section 2 hereof as being outstanding and the refunding of which is herein provided for. Parity 5 1 9 1 1 2 569 814 222 26 94.635139 Securities means the 1965 Parity Secu-~ rities, the 1969 Warrants, the Warrants, and any Additional Parity Securities that may hereafter be issued pursuant to the provisions of Section 9 hereof. 1965 5 1 10 1 1 2 531 1020 119 29 95.558975 Parity 5 1 10 1 1 3 674 1018 221 26 96.550606 Securities means those bonds and warrants that were heretofore issued pursuant to author- igation in Ordinance No. 1024, including (a) the General Obligation Secured Refunding Bonds, Series 1965, of the City dated May 1, 1965, issued in the original principal amount of $823,000, of which those numbered 61 to 823, inclusive, aggregating $763,000 in principal amount, now remain outstanding; (b} the General Obligation Secured Warrants, Series 1965, of the City dated May 1, 1965, is- sued in the original principal amount of $164,000, of which those numbered 65 to 164, inclusive, aggregating $100,000 in principal amount, now remain outstanding; and (c) the* $1,467,000 principal amount of General Obligation Secured Refunding Warrants, Series 1965A, of the City dated May 1, 1965, all of which presently remain outstanding. Pledged 5 1 11 1 1 2 594 1601 59 23 95.684540 Tax 5 1 11 1 1 3 679 1597 181 27 79.115242 Revenues means the proceeds de- rived from the Gross Receipts Tax. Redemption 5 1 12 1 1 2 659 1735 96 26 87.402618 Date means the date fixed for re- demption.of any of the Warrants in a Resolution adopted by the Council pursuant to the provisions of Section 5(a) hereof, Redemption 5 1 14 1 1 2 659 1938 119 27 91.231453 Price means the price at which any Warrant called for redemption may be redeemed. Resolution means a resolution duly adopted by the Council. ' Secular 5 1 17 1 1 2 599 2211 78 29 79.417679 Day™ 5 1 17 1 1 3 702 2218 98 17 96.724602 means 5 1 17 1 1 4 827 2217 56 24 95.960243 any 5 1 17 1 1 5 908 2212 56 28 96.379356 day 5 1 17 1 1 6 989 2217 38 17 96.907730 on 5 1 17 1 1 7 1048 2212 102 22 95.827621 which 5 1 17 1 1 8 1171 2211 160 24 96.543465 business 4 1 17 1 2 0 211 2245 1101 34 -1 5 1 17 1 2 1 211 2251 35 24 96.152328 is 5 1 17 1 2 2 271 2250 160 29 95.785072 normally 5 1 17 1 2 3 454 2249 204 24 96.445190 transacted 5 1 17 1 2 4 683 2248 58 24 95.156845 and 5 1 17 1 2 5 764 2248 78 23 95.156845 does 5 1 17 1 2 6 866 2246 57 25 96.328125 not 5 1 17 1 2 7 948 2246 139 24 96.225540 include 5 1 17 1 2 8 1113 2251 57 22 96.294693 any 5 1 17 1 2 9 1194 2245 118 28 96.294693 Sunday 4 1 17 1 3 0 212 2283 341 29 -1 5 1 17 1 3 1 212 2289 39 19 95.981598 or 5 1 17 1 3 2 274 2283 100 29 93.698936 legal 5 1 17 1 3 3 394 2283 159 28 96.107292 holiday. 2 1 18 0 0 0 213 2382 1184 64 -1 3 1 18 1 0 0 213 2382 1184 64 -1 4 1 18 1 1 0 417 2382 980 30 -1 5 1 18 1 1 1 417 2385 159 26 85.201447 Special Fund" means the Gross Receipts Tax Fund ereated in Section 16 of Ordinance No. 1024. “Ge Page 8 oo WL “Warrants", without: other qualifying language, means the General Obligation Secured Refunding Warrants, Series 1970, herein authorized. ~ 1969 5 1 6 1 1 2 563 372 184 28 96.120880 Warrants means the General Obligation Se- cured Warrants, Series 1969, dated May 1, 1969, heretofore issued, pursuant to authorization in Ordinance No. 1205, in the original principal amount of $1,000,000, of which those numbered 9 to 200, inclusive, aggregating $960,000 in prin- cipal amount, now remain outstanding. (b) Use of Phrases. The following words and phrases, where used in this ordinance, shall be given the following respective interpretations: Herein, hereof, hereunder, and other equiva- lent words refer to this ordinance and not solely to any particular portion hereof in which any such word is used. . 1 The definitions set forth in subsection (a) of ’ this section shall be deemed applicable whether the words defined are herein used in the singular or plural. : Wherever used herein any pronoun or pronouns shall be deemed to include both singular and plural and to cover all genders. Section C. Amendment of Section 2, Ordinance No. 1251. Section 2 of the said Ordinance No. 1251 shall be and hereby is amended so that the said Section 2 will read as follows: Section 2. Findings. The Council has ascer- “: tained and found and does hereby declare that the fol- lowing facts are true and correct: (a) There are now outstanding and unpaid the following: (1) the General Obligation Warrant of the City in the principal amount of $250,000, dated May 1, 1970, due August 1, 1970, bearing interest at the rate of 6% per annum from June 8, 1970, to its maturity payable at maturity, which was issued pursuant to authorization in Ordinance No. 1244 of the City adopted June 1, 1970, for the purpose of paying costs of acquiring fire fighting equipment ‘ and of acquiring, providing and constructing a fire station and a building to be used as a public library and for public recreational purposes in the City; and -10— Page 9 a, (2) the General Obligation Warrant of the City in the ‘principal amount of $250,000, dated May 1, 1970, due October 15, 1970, pearing interest at the rate of 6% per annum from July 24, 1970, to its maturity payable at maturity, which was issued pursuant to authorization in Ordinance No. 1249 of the City adoptedd July 20, 1970, for the purpose of paying costs of acquiring fire Fighting equipment, acquiring, providing and constructing a fire station, and establishing and improving public parks in the Citys (b) Each of the Outstanding Warrants was signed in the name of and behalf of the City and the corporate seal of the City was affixed thereto; each of the Outstand- ing Warrants was attested in the: manner provided by the laws of Alabama and by the ordinance under which it was issued; no part of ‘the principal of or interest on the Outstanding Warrants has been paid; and each of the Outstanding Warrants represents a valid general obligation indebtedness of the . rm City against which there are no offsets or counterclaims; . . (ce) The Couneil has determined that it is nec- essary, desirable and in the public interest that the City issue the Warrants hereinafter authorized for the purpose of refunding the principal of the Outstanding Warrants; (dad) The proceeds received by the City from the Former Gross Receipts Tax for the Fiscal Year that ended ‘ September 30, 1968, were $784,400.11; the proceeds received - from the Former Gross Receipts Tax during the Fiscal Year that ended September 30, 1969, were $917,478.44; and the average annual proceeds derived from the Former Gross “Re- ceipts Tax during the said two Fiscal Years were, therefore, $850 ,939.273 (e) The maximum Annual Debt Service Require-~ ment with respect to the Outstanding Parity Securities ‘and the Warrants is $331,588.00, being the amount of principal and interest that will mature with respect to the Outstanding Parity Securities and the Warrants during the Fiscal Year ending September 30, 1982; 1.75 times the sum of $331,588.00 (or 175% of the said sum) is $580,279.00; (f) The sum of $850,939.27 is greater than the sum of $580,279.00; the average annual proceeds derived from the Former Gross Receipts Tax during the two Fiscal Years ending September 30, 1968, and September 30, 1969 (which are the two Fiscal Years next preceding the issu- ance of the Warrants), is, therefore, more than 1.75 times the maximum amount of principal and interest-that will ma- ture during any succeeding Fiscal Year with respect to the Outstanding Parity Securities and the Warrants; and the War- rants are therefore eligible to be issued on a parity with the Outstanding Parity Securities, all pursuant to and in accordance with the provisions of Seetion 14 of Ordinance No. 1024 and of Section 9 of Ordinance No, 1205, upon the filing in the office of the City Clerk of a certificate’ by the Mayor and City Treasurer setting forth the facts recited in this paragraph and in the foregoing paragraphs (ad) and (e) of this section; -1i- Page 10 n, {g) The Gross Recéipts Tax is in substance and effect a continuation of, and the same tax as, the Former , Gross Receipts Tax; the,pledges of and agreements respect-— ing the Former Gross Receipts Tax that were heretofore made by the City in Ordinances Nos. 1024 and 1205 for the benefit of the Outstanding Parity Securities are now applicable in all respects to the Gross Receipts Tax; for all purposes of the said pledges and agreements made with respect to the Former Gross Receipts Tax in Ordinances Nos. 1024 and 1205, the Former Gross Receipts Tax and the Gross Receipts Tax are to be considered as if they were the same tax; and the reserved privilege to.issue additional securities secured by a pledge of the Former Gross Receipts Tax on a parity with the Outstanding Parity Securities heretofore set forth in each of Ordinances Nos. 1024 and 1205 should be deemed in all respects applicable to the Gross Receipts Tax; . (h) 4n Official Invitation for Bids for pur- chase from the City of the Warrants, together with per- tinent financial information with respect to the. City, has been circulated among securities dealers and banks; at the time and place fixed in the aforesaid Official Invitation for Bids for the opening of sealed bids for purchase’ of the Warrants, viz., on July 28, 1970, at 12:00 o'clock, Noon, Central Daylight Time, at the City Hall in the City, and at a duly convened session of the Council, sealed bids for purchase from the City of the Warrants were received by the City; each of the said Sealed bids was publicly opened at the said time and place and each thereof was accompanied by a certified check or cashier's check in the amount of $10,000.00 payable to the order of the City and drawn on a member bank of the Federal Reserve System; the said Official = Invitation for Bids invited'bids on either or both of two alternate schedules of maturities; the Council has determined that it will be advantageous to the City to accept the best bid submitted on that one of the said alternate schedules that was designated in the said invi- tation as Alternate Schedule No. 1; of the bids so opened with respect to the said Alternate Schedule No. 1, the best bid and the one that reflected the lowest net inter- est cost to the City was that of Hugo Marx & Co., and As~ Sociates, Berney Perry & Company and Watkins, Morrow & Co., which reflected a net interest cost to the City of $593,437.50, and an average annual net interest rate of 7.68203%, and which Specified a dollar price of $500,000.00 and the interest rates hereinafter provided for, Section D. Amendment of Section 3, Ordinance —— ete No, 1251. Section 3 of the said Ordinance No. 1251 shall be and hereby is amended so that the said Section 3 shall read as follows: _ ~12- Page 11 A, co PP Section 3. Authorization of the Warrants. Pur- suant to the applicable provisions of the constitution and laws of the State of Alabama, including particwlarly Sec- -r tion 253 of Title 37 of the Code of Alabama of 1940, and for the purpose of refunding the principal of the Outstand- ing Warrants, there are hereby authorized to be issued by the City one hundred (100) General Obligation Secured Re- funding Warrants, Series 1970, of the City in the aggregate principal amount of $500,000, which shall be in the denomina- tion of $5,000 each, shall be dated May 1, 1970, and shall mature on May 1 as follows: Warrant Numbers Aggregate Principal (both inclusive) Year of Maturity Amount Maturing 1lto 5 1980 $25,000 6 to 10 1981 25,000 11 to 20 1982 ~ 50,000 21 to 30 1983 50,000 31 to 4o 1984 . 50,000 41 to 50 1985 50,000 51 to 60 1986 50,000 61°to 70 1987 50,000 71 to 80 1988 50,000 81 to 90 1989 50,000 91 to 100 1990 50,000 The Warrants shall bear interest from their date until their respective maturities at the following per annum rates: 6-3/4% on those having stated maturities in 1980 and 1981; and 7-3/4% on those having stated maturities tn 1982 to 1990, in- elusive. _The said interest shall be payable semiannually on May 1 and November 1 of each year until and at the respective maturities of the Warrants and shall be evidenced by sep- arate interest coupons attached thereto. . Section E. Amendment of Section 18, Ordinance No. 1251. Section 18 of the said Ordinance No, 1251 shall be and hereby is amended so that the said Section 18 will read -as follows: Section 18. Sale of the Warrants. The Warrants are hereby sold,to Hugo Marx & Co., and Associates, Berney Perry & Company and Watkins, Morrow & Co., at a purchase price equal to 100% of their face value, viz., the sum of $500,000.00, plus accrued interest on the Warrants from -13- Page 12 C th May 1, 1970, to the date of the delivery thereof. The War- rants shall be made payable to V. Hugo Marx, Jr., the nomi— nee of thetpurchasers of the Warrants in accordance with di- reetions given by the said purchasers, The City Treasurer is hereby authorized and directed to deliver the Warrants, having attached thereto all of the Coupons, to the said pur- chasers upon payment to the City of the said purchase price. Section F. Ratification of Ordinance No. 1251. The said Ordinance No. 1251, as amended by this ordinance, shall be and hereby is in all respects ratified and con- firmed. “ADOPTED this 8th day’ of September, 1970. City Clerk APPROVED this _9th day of September, 1970. LL Page 13 ORDINANCH NO. 125) AN ORDINANCE AMENDING THE ZONING ORDINANCE OF THE CITY OF PRICHARD, BEING ORDINANCE NO. 981 , PE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF PRICHARD, ALABAMA AS FOLLOWS : SECTION 1, That the Zoning Ordinance of the City of Prichard, being Ordinance No. 981 together with the Zoning map of the City of Prichard, be, and the same are hereby changed and altered in respect to that certain property in the City of Prichard, State of Alabama, described as follows, to wit: ‘ From a point where the Bast line of Lot D , Range l} West, Owens \ Division of the St. Louis Tract intersects the North right-of-way : line of Wolf Ridge Road, run Northwestwardly, alont the East line : of the said Lot D and the East line of Lot 22 of said Range \ West, a distance of 69, feet to the POINT OF BEGINNING, thence \ continue Northwestwardly, along the Hast line of the said Lot 22, ’ a distance of 23) feet to a point which is the Southeast corner of property conveyed by Barnes to Phillips by deed recorded in Deed Book 753, page 64.1 of the Probate Court Records of Mobile County, Alabama, thence Southwestwardly, and parallel to the = North line of the said Lot 22, a distance of 150 feet, thence Northwestwardly, and parallel to the East line of the said Lot 22 a distance of 50 feet to a point on the North line of Lot 22 thence Southwestwardly, alont the North line of the said Lot 22 a distance of 309 feet to the Northwest corner of Lot 22, thence Southwardly, alont the West line of the said Lot 22 a distance of 150 feet to a point, thence N lh 30' EB, along the line of the prop- erty, of Alice #, Robinson, 20 feet, more or less to the corner of the said Robinson property, thence S 25 - 00! EH, along the line .of the Robinson property, 210 feet, more or less to a point which is 69. feet North of the North line of Wolf Ridge Road as measured at right angles thereto, thence run Eastwardly, along the North line of the property of James W. Barnes and wife to the POINT OF BEGINNING. yee The classification of said property is hereby changed from Residential (R-3) District to Manufacturing (M-1) District and it shall here- after be lawful to construct on such property any structures per mitted by Ordinance No. 981, the Zoning Ordinance of the City of Prichard, and to use said premise® for any use permitted by the terms of said Ordinance in a Manufacturing (M-1) District; provided, however that no equipment be stored within 150 feet of Anton Street and the plans for any structure or building sought to be erected on said property shall be in compliance with the building laws of the City of Prichard, and that any structure shall be approved by the Building Inspector of the City of Prichard, and that any such structure be erected only in compliance with such laws, including the re- quirements of said Ordinance No. 981. SECTION 2. This Ordinance shall have full force and effect unon its approval as required by law. Adopted this 2lst day of September, 1970. aprovin: (/C/ Ce CENTRAL * CLERK