Page 1 > ~ - = ‘ : — = ae as ORDINANCE NO. 923 os te RDINANCE TO PROVIDE FOR THE ISSUANCE OF $183,000 PRINCIPAL. AMOUNT OF ARAL OBLIGATION SECURED REFUNDING BONDS, SERIES 1962, AND $117,000 {NCIPAL AMOUNT OF GENERAL OBLIGATION SECURED WARRANTS, SERIES 1962 #£ IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF PRICHARD, ALABANA, AS FOLLOWS: Section 1. Definitions and Use of Phrases. (a) Definitions, The following. words and phrases, in the absence of clear implication herein otherwise, shal] be given the following respective interpretations where used in this ordinance: “Additional parity. securities" means any secutities which the city may at the time of issuance be authorized to issue’ and for the payment of the principal of and’ interest on which the gross receipts tax may be pledged under ‘the reserved right so to do contained in Section 12 of the open end ordinance. | « NAuthorized securities" means the refunding bonds and the warrants. City? 5 1 8 1 1 2 366 760 97 19 95.745270 means 5 1 8 1 1 3 486 755 58 24 96.085152 the 5 1 8 1 1 4 565 752 177 31 96.152153 municipal 5 1 8 1 1 5 765 750 216 33 96.037224 corporation 5 1 8 1 1 6 1004 751 38 24 96.052551 of 5 1 8 1 1 7 1064 743 159 32 96.089142 Prichard 5 1 8 1 1 8 1244 748 36 25 96.581100 in 5 1 8 1 1 9 1302 750 58 23 96.581100 the 5 1 8 1 1 10 1382 749 96 24 96.222275 State 5 1 8 1 1 11 1498 748 42 24 96.334740 of 5 1 8 1 1 12 1608 771 28 11 38.955284 ney 4 1 8 1 2 0 126 778 1533 39 -1 5 1 8 1 2 1 126 790 140 23 95.215576 Alabama 5 1 8 1 2 2 286 789 60 24 95.215576 and 5 1 8 1 2 3 367 787 155 30 95.994347 includes 5 1 8 1 2 4 547 786 55 26 96.210175 its 5 1 8 1 2 5 626 788 195 23 50.842663 successors 5 1 8 1 2 6 843 786 62 23 96.374695 and 5 1 8 1 2 7 924 783 135 32 96.374695 assigns 5 1 8 1 2 8 1083 785 58 24 96.319626 and 5 1 8 1 2 9 1161 789 59 24 96.319626 any 5 1 8 1 2 10 1242 782 177 30 96.472389 municipal 5 1 8 1 2 11 1442 778 217 36 80.275604 corporation 4 1 8 1 3 0 127 814 1470 39 -1 5 1 8 1 3 1 127 821 179 32 90.649132 resultifig 5 1 8 1 3 2 328 822 79 24 95.954124 from 5 1 8 1 3 3 427 828 38 18 95.629021 or 5 1 8 1 3 4 487 819 179 32 96.468864 surviving 5 1 8 1 3 5 685 826 58 24 95.933121 any 5 1 8 1 3 6 766 817 255 26 96.098862 consolidation 5 1 8 1 3 7 1044 824 39 18 96.407043 or 5 1 8 1 3 8 1101 819 121 28 48.569542 merger 5 1 8 1 3 9 1241 820 40 21 96.402557 to 5 1 8 1 3 10 1301 815 99 25 96.846985 which 5 1 8 1 3 11 1422 814 37 26 95.529762 it 5 1 8 1 3 12 1482 822 38 18 95.275597 or 5 1 8 1 3 13 1541 814 56 31 96.193718 its 4 1 8 1 4 0 128 855 511 30 -1 5 1 8 1 4 1 128 862 196 18 88.387695 successors 5 1 8 1 4 2 345 862 60 23 95.449997 may 5 1 8 1 4 3 426 855 79 24 96.637932 be 5 1 8 1 4 4 487 850 18 40 95.599190 a 5 1 8 1 4 5 525 857 114 27 94.982590 party. 2 1 9 0 0 0 128 913 1450 69 -1 3 1 9 1 0 0 128 913 1450 69 -1 4 1 9 1 1 0 230 913 1348 39 -1 5 1 9 1 1 1 230 921 173 26 90.318047 Council" means the governing body of the city as’ from time to time constituted. Coupons means those coupons issued pursuant hereto and evidencing the semiannual installments of interest on the applicable authorized . securities, 5 Fiscal 5 1 11 1 1 2 387 1156 98 31 87.731522 year means a fiscal year of the city beginning on any October L and ending on the next ensuing September 30. Gross 5 1 12 1 1 2 369 1256 157 32 92.785873 receipts 5 1 12 1 1 3 548 1258 76 24 76.115318 tax means the special privilege or license tax of the" city referred to in Séction 11 hereof insofar as the same’ is. levied with respect to businesses conducted within the corporate limits of the city. Holder when used in conjunction with any of the authorized securities means the person who is in possession and the apparent owner of the desiges nated item. “Interest payment date™ means any February 1 or August 1. Month means a calendar month. Newepaper means a journal or newspaper pranted in the English language and customarily published not less than five days duping each ” calendar week, Outstanding 5 1 13 5 1 2 488 1783 122 36 0.000000 bonds 5 1 13 5 1 3 627 1795 99 35 96.292145 means 5 1 13 5 1 4 748 1794 98 30 96.753555 those 5 1 13 5 1 5 868 1792 97 24 96.533745 bonds 5 1 13 5 1 6 987 1790 98 30 96.879341 which 5 1 13 5 1 7 1106 1797 58 21 96.764992 are 5 1 13 5 1 8 1184 1787 162 28 89.383698 referred 5 1 13 5 1 9 1369 1792 38 21 90.554039 to 5 1 13 5 1 10 1427 1787 38 30 92.969200 in 5 1 13 5 1 11 1486 1788 77 27 91.834846 sub- 4 1 13 5 2 0 132 1821 1412 42 -1 5 1 13 5 2 1 132 1830 156 30 93.343193 sections 5 1 13 5 2 2 316 1825 49 38 49.172062 Ca) 5 1 13 5 2 3 384 1832 65 30 49.172062 and 5 1 13 5 2 4 475 1824 50 30 73.423843 (hy 5 1 13 5 2 5 549 1832 37 21 88.083351 of 5 1 13 5 2 6 611 1826 136 26 95.896233 Section 5 1 13 5 2 7 768 1828 19 26 96.312828 2 5 1 13 5 2 8 806 1826 121 25 95.475006 hereof 5 1 13 5 2 9 948 1832 37 18 94.800453 as 5 1 13 5 2 10 1005 1824 100 32 94.800453 being 5 1 13 5 2 11 1128 1822 217 32 0.099136 outstanding 5 1 13 5 2 12 1366 1822 58 29 96.322075 and 5 1 13 5 2 13 1444 1821 100 30 96.646568 which 4 1 13 5 3 0 132 1861 730 32 -1 5 1 13 5 3 1 132 1871 57 18 94.379684 are 5 1 13 5 3 2 211 1862 118 28 92.903557 herein 5 1 13 5 3 3 352 1862 197 27 91.032745 duthorized 5 1 13 5 3 4 571 1865 38 21 96.743011 to 5 1 13 5 3 5 631 1862 35 26 96.913498 be 5 1 13 5 3 6 666 1861 196 32 86.909798 refunded. 2 1 14 0 0 0 131 1923 1435 74 -1 3 1 14 1 0 0 131 1923 1435 74 -1 4 1 14 1 1 0 235 1923 1331 37 -1 5 1 14 1 1 1 235 1931 94 29 83.733086 Open end ordinance” maans Ordinance No. 904 of the city adopted by the council and approved on July.17, 1961. Page 2 3 * Paying 5 1 3 1 1 2 462 96 116 23 52.591251 agency 5 1 3 1 1 3 602 88 95 27 52.591251 bank means each bank at which the authorized securities may at any time be payable. “Pledged 5 1 4 1 1 2 479 194 62 24 94.738029 tax 5 1 4 1 1 3 560 187 177 27 91.574570 revenues means the proceeds derived from the gross receipts tax which are pledged for the benefit of the authorized securities. Redeemable 5 1 5 1 1 2 544 323 214 28 30.313477 securities means those of the authorized securities having Stated maturities in 1973 and thereafter. 5 1 6 1 1 2 345 426 177 42 61.559383 edemption 5 1 6 1 1 3 544 425 96 32 21.797188 date” 5 1 6 1 1 4 661 431 100 19 96.328842 means 5 1 6 1 1 5 783 424 58 30 96.575386 the 5 1 6 1 1 6 862 425 79 24 96.500488 date 5 1 6 1 1 7 962 421 96 26 95.692192 fixed 5 1 6 1 1 8 1080 421 60 30 95.692192 for 5 1 6 1 1 9 1158 417 200 33 95.811913 redemption 5 1 6 1 1 10 1380 417 38 24 96.019814 of 5 1 6 1 1 11 1438 416 197 24 96.452271 redeemable 4 1 6 1 2 0 207 450 1330 42 -1 5 1 6 1 2 1 207 462 195 29 85.816101 securities 5 1 6 1 2 2 421 469 42 20 81.373947 an 5 1 6 1 2 3 485 469 19 17 87.759224 a 5 1 6 1 2 4 525 461 177 31 95.647491 published 5 1 6 1 2 5 722 457 119 29 96.922714 notice 5 1 6 1 2 6 863 458 37 23 95.904160 of 5 1 6 1 2 7 922 454 199 32 93.283958 redemption 5 1 6 1 2 8 1138 454 80 24 86.194122 madé 5 1 6 1 2 9 1241 453 157 30 96.697243 pursuant 5 1 6 1 2 10 1419 453 39 23 96.200882 to 5 1 6 1 2 11 1478 450 59 31 96.924072 the 4 1 6 1 3 0 206 491 610 37 -1 5 1 6 1 3 1 206 496 257 32 94.713394 provisions 5 1 6 1 3 2 427 487 38 45 96.573135 of 5 1 6 1 3 3 484 493 138 30 96.569321 Section 5 1 6 1 3 4 642 494 18 24 96.250366 7 5 1 6 1 3 5 681 491 135 26 95.776665 hereof, 3 1 6 2 0 0 207 549 1392 78 -1 4 1 6 2 1 0 308 549 1291 40 -1 5 1 6 2 1 1 308 562 215 27 71.956802 Redemption price” means the price at which redeemable securities called tor redemption may be redeemed on the redemption date. Refunding 5 1 7 1 1 2 525 662 117 27 66.296532 bonds means the General Obligation Secured Refunding Bonds, Series 1962, of the city dated August I, 1962, authorized in Seotion 5 herdof. tRasolution” means a resolution duly adopted by the council, Secular, 5 1 9 1 1 2 494 865 69 29 45.886425 day means any day on which business is normally transacted and doss not include any Sunday or legal holiday. Special. 5 1 10 1 1 2 495 965 90 26 62.130249 fund means the Gross Receipts Tax Fund veferred to in Section li Hered! Warrants means the General Obligation Secured Warrants, Series. 1962, authorized in Section 6 hereof. (os) Use of Phrases. The following words and phrases where used in this ordinance shall be given the following respective interpretations: Herain, hereof, hereunder", and other equivalent words refer to this ordinance and not solely to any particular portion hereof in which any stich word is used. The définitions set forth in Section 1(a) hereof shall be deemed applicable. whether. the, words defined. are herein used in the singular or plural. Wherever used heréin any pronoun or pronouns shall be deemed to inelude both singular and plural and to cover all genders. Section: 2. Findings Respecting the Outstanding Bonds. ‘The council has caused an, investigation to be’ made ‘of the obiigations of the -city now outstanding arid, as a result of such investigation, has ascertained and found:and does hereby declare that there are now outstanding and unpaid the following bonds of thé eity: (a) Those Publie Improvement Bonds, Series 1953, oF the city dated Getober 1, 1953, numbered from 771 to 810, inelusive, maturing on Gctober 1, 1962, and aggregating $40,000 in. principal amount, which were issued under the provisions of Ordinance No, 592 of the city adopted by the couneil and approved on September 284, 1953 for the purpose of making certain sanitary sewer improvements in the city as provided for in said ordinance; and Page 3 (b) Those Publica Improvement Bonds, Series 1960, of the city dated September 1, 1980, numbered from 144 to 286, inelugive, maturing on September 1, 1962, and aggregating $143,000 in principal amount, which were issued under the provisions of Ordinance No. 872 of the eity adopted by the council and approved on August 38, 1960 for the purpose ef constructing certain sanitary sewer improvenents in the city as provided for in said ordinances Each of the outstanding bonds was signed in the name of and behalf of the city and the corporate seal of the city was affixed thereto and attested in the manner provided by the laws of ‘Alabama and by the said ordinances. under which. they were respectively issued, and represents 4 valid general cbligation indebtedness of the eity against which thers are no offsets. ,or counterclaims, The improvements veferred to in the said Ordinance No, 591 have heretofore been completed and assessments made against the Proper as specially benefited thereby for the purpose of paying in whole or in. pars the costs of such improvements, but all collections under the said assess~ ments have heretofore been expended and there are no funds on hand derived from the said assessments which will be available for the payment of the outstanding bonds at their maturity. The improvements referred to in the said Ordinance No. 872 hava not been completed and no assessments have been made with respect thereto and there are no funds on hand from any such assessments. The aggregate principal amount of the outstanding bonds referred to in this seetion is $183,000.00 Section 3. Findings Respecting Necessity of Issuing ‘the Warrants. The council has caused an investigation to be made of the financial affairs of the city and, as a result of such investigation, has. ascertained and found and does hereby declare that the following statements are true? (a) Interest in the amount of $27,000 will become due September l, 1962 on the Public Improvement Bonds,/ Series 1960, of the city dated September 1, 1960, which ware issued under Ordinance No. 872 of the oAty adopted by the council and approved on August 8, 1960, for the purpose of constructing certain sanitary sewer improvements in the eity with respect to which no assessments have yet been made Final by the city and no collections have been made theraon. (b) The city has heretofore advanced from its general fund to its sewer fund, and used for construction of sanitary sewers in the city, the sum of $90,000. As a result of guch advancement the general fund of ‘the city has been greatly depleted and the city does net have funds to pay the necessary expenses of carrying on the necessary governmental funetions of the city. In order to raise moneys necessary to pay the aforesaid interest and i order to make the aforasaid pestoration to the general fond and enable’ the city to pay its operating expenses, it will be necessary for the city to borrow the aggregate sum of $117,000, and in evidence of the money so borrowed to issue the warrants hereinafter authorized, Section 4, Findings respecting the Pledged Tax Revenues ai Special Fund. Under the providions of the open end Tae ee city authorized the issuance of, and did thereafter issue, certain | securities of the city that are now outstanding. By Ordinance Ne ; of the city adopted py the council and approved of October 3 “hase bn0 the city levied a special privilege and license tax, ard in th spent end ordinance the city pledged the said spacial tax, to the tenn to which the same was levied within the corporate aimits or the eity . s Page 4 ‘ for the benefit of certain securities that had been issued under the open end ordinance. In Section 12 of the open end ordinance the city reserved the power of pledging the gross receipts tax for the benefit of additional securities of the city upon compliance with the requireménts set out in said Section 12. The proceeds of the said tax have been sufficient to enable the city to issue the authorized securities and to make the parity pledge hereinafter made for the benefit thereof under the said reserved power so to do contained in said SXetion 12 of the open end ordinance. Section §. Authorization of Refunding Bonds. Pursuant to the applicable provisions of ihe constitution and laws of the State of Alabama » including particularly Secticns 287 and 264 of Title 37 of the Code of Alabama of 1940; as amended, and for the purpose of refunding the outstand- ing bonds of like principal amount, there ave hereby authorized to be issued by the city one hundred eighty three General Obligation Secured Refunding Bonds, Series 1962, of the city in the aggregate principal amount of $183,000, whieh shall be numbered consecutively from L to 183, inclusive, shall be in the denomination of $1,000 each, shall be dated August 1, 1962, and shall mature on August 1 as follows: Refunding Bond Numbers Aggregate Principal (both inclusive) Year of Maturity Amount Maturing . 1 to 10 1965 $ 19,000 LL to 20 i966 16,609 21 to 30 1967 10,000 3L to 40 1968 10,600 41 to 50 3963 10,000 51 to 60 1970 10,000 61 to 70 1971 10,008 71 to 80 1972 20,600 81 to 90 1873 10,000 91 to 1O0 1974. 10,000 101 to 110 1975 10,906 »2L1 £0 120 1876 10,099 21 to 130 1977 10,060 131 to 140 1878 10,000 141 to 150 1979 10,000 152% to 160 1980 10,000 161 to 170 1981 10,000 171 to 183 1982 13,000 The refunding bonds shall bear interest from their date until their respective maturities at the following per annum rates: 4¥-174% on those mat. 1965 to 1972, incl. and 4% on those mat. in 1973 - 1982, inclusive. Such interest shall be payable semiannually on February 1 and August 1 of each year until and at their respective maturities and, shail be evidenced by separate interest coupons attached thereto. The Defunding bonds and the coupons applicable thereto shall bear interest at ‘the vate of 6% per annum after their respective maturities until paid, and shall be payable in lawful money of the United States of Ameriea at the principal office of The Merchants Wational Bank of Mobile, in the City of Hobile in the State of Alabama. Section § Authorization of the Warrants. Pursuant to the appli- eabhe »rovisions of the constitution and laws of the State of Alabama, including parti¢ularly Section 466 of Title 37 of the Code of Alabama of Page 5 , ’ 1340, and for the purpose of raising the sum of $27,006 with which to pay interest that will mature on September 1, 1962 on “the outstanding Public Improvement Bonds, Series 1960, dated September 1, 1960, which were issued under the provisions of Ordinance No. 872 of the city adopted by the council and approved on August 8, 1960, and for the purpose of raising the sum of $90,000 with which to restore to the general fund of the city, to be used to pay general operating expenses of the city, moneys heretofore used avt of the general fund of the city for advancement to the sewer fund of the city in the construction of Sanitary sewers for the city, which two sums together aggregate $117,000, there are hereby authorized to be issued by the city one hundred seventeen General Obligation Secured Warrants, Series 1962, of the eity in the aggregate principal amount of $117,000, to be numbered from 1 to L175 inclusive, to be in the principal amount of $1,000 each, to be dated August 1, 1962, and to mature on August 1 as follows: Warrant ; Numbers Aggregate Principal (both inclusive) Year of Maturity Amount Maturing 1 to 20 1973 $ 20,000 21 to 49 1374 20,000 4L to 65 1975 25,000 66 to 90 1576 25,000 91 to 117 1977 27,000 The warrants shall bear interest from their date until their respective maturities at the following per annum rates: 4% Such interest Shall be payable semiannually on February 1 and August 1 of each year until and at their respective maturities and shall be evidenced by separate interest coupons attached thereto, The warrants and the coupons applicable thereto shall bear interest at the rate of 6% per annum after their respective maturities until paid, and shall be payable in lawful money of the United States of America at thé principal office of The Merchants National Bank of Mobile, in the City of Mobile dn the State of Alabama, Section 7. Optional Redemption Provisions. While the eity is not an default in the payment of the principal of or the interest on any of the authorized securities, those of the refunding bonds having stated maturities in 1973 and thereafter and all of the warrants shail separately be subject to redemption and payment by the city at its option on any interest payment date on or after August 1, 1972, after prior published notice given in the manner hereinafter provided, at a redemption price for each of the redeemable securities equal to its face valua plus accrued interest thereon to the redemption date and a premium equal to twelve months' interest thereon. Anysauch redemption may be effected for refunding bonds without the necessity of redeeming any of the warrants, and any such redemption may be effacted for warrants without the necessity ef redeeming any of the refunding bonds. Any such redemption may be as a whole or in part of the applicable issue, and if in part it shall be accomplished in inverse numerical order of those of the applicable issue then suliject to redemption and at the time outstanding. Any ‘such redemption shall be effected in the following manner: (a) The couneil shall be reasolution call for redemption on a stated date when they are by their terms subject to redemption redeemable Page 6 ed » ' . a sécurities (either erfunding bonds or warrants) bearing stated numbers and shall further find and declare in such‘resolution that the city is “not at the time in défault in the payment of the principal of or i ‘ interest on any of the authorized securities. (b) ‘The city shall cause to be ;ublished in a newspaper published in the city of Birmingham, Alabama, a notice stating the following: that redeemable securities bearing stated numbers (which shall be the numbers specified in the resolution required in Seqtion 7{a) hereof) have been called for redemption and will become due and payable on a specified redemption date (which shall be the redemption date provided for such redemption in the resolution required in Section 7(a) hereof) and at the redemption price (which shall be specified in the said notice), and that all interest thereon will cease after the pedemption date. Such notica. shall be published at least one. time, not less than thirty days prior ‘to the redemption date; in a newspaper published in Birmingham, Alabama. (c) On or prior to the redemption date the city will make available,at the bank at which the authorized securities. are payable the total redemption price of the redeemable securities so called for redemption, and shall further furnish to said bank a certified copy of the resolution required in Section 7(a) hereof and an appropriate affidavit shoving compliance with the requirements of Section. 7(b) hereof. Upon compliance ‘with the foregoing requirements, and if on the redemption date the city is not then in default in payment of the principal of or interest on any of the authorized securities, the redeemable securities so c&Lied For redemption Shall bécome due and payable on the redemption date at the place at which the same shall be payable and at the vedemption price specified in such notice, anything in the vedeemable securities to the contrary notwithstanding, and interest shall thereafter ceade to acenue on the redeemable securities so called. Neither the bank at which the redeemable securities shall be payable nor the city shall be required to pay any coupon maturing on the redemption date which is applicable to any redeemable security so called for redemption unless the redeemable security to which such cougon is applicable is also presented for payment; provided, that in the event such bank should pay any such coupon without payment of the applicable redeemable sapurity it shal] not be liable td the holder of such applicable redeam= able security or to the city om to anyone whimsoevers and provided further, that such bank shall pay such coupon out of the moneys supplied to it for that purpose by the city if the halder thereof shall present evidence’ satisfactory to such bank that such holder is the owner of the coupon, so presented and is not, the owner of the nedeemable ‘security to which such cdupon is applicable. Section 8, Execution of the Refunding Bonds,» ‘The refunding bonds shall be executed in behalf of the czty by .t @ mayor, whose signature shall be manually subseribed thereon, and by a facsimile of the signa- ture of the city clerk imprinted thereon. A facsimile of the seal of the city shall be printéd on é@ach of the refunding bonds and the facsimile of the signature of the city clerk imprinted thereon shall constitute attestation of said seal. The coupons applicable to the refiinding bonds shall be executed with facsimimiles of the signature of the said mayor and city clerk imprinted thereon. The said facsimi- lies of the signatures of seid officers shall be valid in all respects as if the said officers had signed said instruments’in person. Page 7 Section 9, Execution of the Warrants. The warrants shall be executed in behalf of ‘the city by the mayor whose gignature shall be manually subscribed thereon. faesimile of the official seal of the city shall be imprinted on the warrants and the said seal and the said seal and’ the said exeaytion by the mayor shall be athested by a facsimile of the signature of the city clerk imprinted on the warrants. The coupons applicable to the warrants shall be executed with a facsimile of the signature of the mayor imprinted thereon, and shall be attested with a. facsimile of the signature of the city clerk likewise imprinted thereon. ‘The warrants and the coupons applicable thereto shali be vagistered by the city treasurer, in the records maintained by her, as a claim against the city and the gross veceipts tax herainafter peferred to, which registration. shall be made simultaneously with respect to all the warrants and the coupons applicable thereto. Said officers ave hereby directed so to exectite, attest and register the warrants and the coupons applicable thereto. Section 10. Pledge of the. Faith and credit of the City. The indebtedness evidenced mand ordered paid by the authorized securities is and shall be a general obligation of the city for the payment of the principal of and interest on which the full faith and credit of the eity are hereby irrevocably pledged. Section ll. Pledge of the Gross Receipts Tax, As additienal . security for payment Oi the principal of and interest on the authorized securities, and as a part of the contract whereunder the obligation evidenced by the authorized securities is created, there is hereby specially and irrevocably pledged, ‘to the extent necessary to pay. the principal of and interest on the, authorized securities at the respective maturities of said principal and interest, that certain special privilege and license tax of the city (together with the proseeds thereof) which was levied by Ordinance No. 886 of the city with vespect to aertain businass activities, to the extent to which the same was levied within the corporateliimite of the city; provided however, that so long as no default shall exist in the payment of the principal of or interest on the authorized securities and any other securities of the city which at the time may be secured by & pledge of the gross receipts tax on a pavity with che pledge thereof made for the benefit of the authorized securities the balance of the said proceads. remaining in each Fiscal year not needed for said ‘pur’pose may. be used by the city for any lawful plirpose. To whatever extent, if any, the proceeds of the grofs receipts tax available for said purpose may not he sufficient to pay at their respective maturities the principal of and ‘interest on. the authorized securities at the respective maturities of daid principal and interest, the city agrees to use for gaid purpose so much of the general revenues of the city derived from othar sources and available for said purpose as may be necessary to pay said principal ahd interest at their respsetivé maturities, The city vepresants and agrees that upon delivery of the authorized Securities there will be no outstanding agreement or pledge with respect to the gross receipts tax other than the agreements and pledge made in the open end ordinance and herein will constitute the first pladge of the gross receipts tax and’ of its proceeds, and that the agreements and pledge respecting the gross receipts tax and its proceeds made in the opan end ordinande and herein shall be and renain prior and superior to any and all pledges and agreements respecting the gross receipts tax that may hereafter be made by the eity other than any parity pledge théreof which may be made for the Page 8 ~ ne * 5 1 1 2 1 2 150 97 141 26 7.416000 benefit 5 1 1 2 1 3 313 97 37 25 96.928513 of 5 1 1 2 1 4 372 97 201 31 95.683571 additional 5 1 1 2 1 5 593 96 118 32 96.471001 parity 5 1 1 2 1 6 732 96 196 27 89.404556 securities 5 1 1 2 1 7 951 98 77 27 96.781303 that 5 1 1 2 1 8 1050 103 58 24 96.597427 may 5 1 1 2 1 9 1129 97 38 24 96.847656 be 5 1 1 2 1 10 1190 95 119 26 96.096031 issued 5 1 1 2 1 11 1330 97 100 24 80.470917 under 5 1 1 2 1 12 1450 97 57 23 96.110428 the 4 1 1 2 2 0 152 128 1339 34 -1 5 1 1 2 2 1 152 131 240 31 96.440125 authority 5 1 1 2 2 2 355 124 41 43 95.883957 of 5 1 1 2 2 3 413 130 139 28 95.594276 Section 5 1 1 2 2 4 575 132 36 24 95.594276 12 5 1 1 2 2 5 633 131 38 25 95.951462 of 5 1 1 2 2 6 692 132 57 24 96.804138 the 5 1 1 2 2 7 773 138 76 24 96.021141 open 5 1 1 2 2 8 871 132 61 24 96.021141 end 5 1 1 2 2 9 952 130 193 26 95.790550 ordinance. 5 1 1 2 2 10 1190 131 58 23 93.116135 The 5 1 1 2 2 11 1269 128 79 32 96.545509 city 5 1 1 2 2 12 1369 128 122 32 92.624603 hereby 4 1 1 2 3 0 153 162 1475 37 -1 5 1 1 2 3 1 153 165 238 32 96.021645 specifically 5 1 1 2 3 2 414 168 156 24 94.808670 declares 5 1 1 2 3 3 593 167 77 24 96.058945 that 5 1 1 2 3 4 691 167 60 32 96.058945 the 5 1 1 2 3 5 771 165 200 34 96.136131 authorized 5 1 1 2 3 6 991 164 197 26 92.366508 securities 5 1 1 2 3 7 1210 163 200 26 96.446129 constitute 5 1 1 2 3 8 1430 162 198 26 95.556747 additional 4 1 1 2 4 0 154 196 1353 34 -1 5 1 1 2 4 1 154 199 195 27 95.837631 securities 5 1 1 2 4 2 374 202 38 24 96.367416 of 5 1 1 2 4 3 433 201 57 24 96.526558 the 5 1 1 2 4 4 517 199 76 31 94.609802 city 5 1 1 2 4 5 615 200 57 25 96.879883 for 5 1 1 2 4 6 692 200 57 25 96.669418 the 5 1 1 2 4 7 772 198 137 26 95.667847 benefit 5 1 1 2 4 8 932 199 37 25 96.468002 of 5 1 1 2 4 9 989 198 100 32 96.037048 which 5 1 1 2 4 10 1110 198 58 25 96.785477 the 5 1 1 2 4 11 1191 197 76 31 96.785477 city 5 1 1 2 4 12 1291 198 156 24 96.707870 reserved 5 1 1 2 4 13 1468 196 39 26 96.486412 in 4 1 1 2 5 0 155 229 1492 35 -1 5 1 1 2 5 1 155 233 136 26 96.251175 Section 5 1 1 2 5 2 314 235 36 26 96.278564 12 5 1 1 2 5 3 374 234 39 25 96.887856 of 5 1 1 2 5 4 433 235 58 24 96.671059 the 5 1 1 2 5 5 514 237 77 27 91.942093 open 5 1 1 2 5 6 613 235 58 23 96.482147 end 5 1 1 2 5 7 693 232 176 26 96.733940 ordinance 5 1 1 2 5 8 892 233 55 25 96.021584 the 5 1 1 2 5 9 971 231 98 32 95.725479 right 5 1 1 2 5 10 1090 236 39 21 96.888863 to 5 1 1 2 5 11 1150 232 316 31 96.732094 pledge 5 1 1 2 5 12 1290 225 62 43 96.565170 the 5 1 1 2 5 13 1369 232 97 31 96.565170 gross 5 1 1 2 5 14 1488 229 159 31 96.301437 receipts 4 1 1 2 6 0 153 264 1393 34 -1 5 1 1 2 6 1 153 270 59 23 95.649307 tax 5 1 1 2 6 2 234 275 38 17 95.131363 on 5 1 1 2 6 3 292 275 20 17 95.131363 a 5 1 1 2 6 4 333 267 120 31 96.792419 parity 5 1 1 2 6 5 472 267 80 25 96.270920 with 5 1 1 2 6 6 573 268 56 24 96.028595 the 5 1 1 2 6 7 653 268 116 30 95.332390 pledge 5 1 1 2 6 8 791 268 78 23 95.952187 made 5 1 1 2 6 9 892 266 38 25 95.972130 in 5 1 1 2 6 10 950 267 57 25 95.972130 the 5 1 1 2 6 11 1031 272 80 24 96.929916 open 5 1 1 2 6 12 1130 267 58 24 96.279640 end 5 1 1 2 6 13 1211 264 177 30 96.714699 ordinance 5 1 1 2 6 14 1411 265 59 29 96.477615 for 5 1 1 2 6 15 1489 264 57 25 96.833832 the 4 1 1 2 7 0 152 298 1414 34 -1 5 1 1 2 7 1 152 300 138 26 96.051544 benefit 5 1 1 2 7 2 316 302 38 24 96.237427 of 5 1 1 2 7 3 375 303 56 23 96.671318 the 5 1 1 2 7 4 453 300 197 26 96.578224 securities 5 1 1 2 7 5 674 300 117 32 96.272896 issued 5 1 1 2 7 6 812 301 213 29 96.206764 thereunder, 5 1 1 2 7 7 1049 301 59 23 96.177452 and 5 1 1 2 7 8 1129 299 78 25 96.302155 that 5 1 1 2 7 9 1230 299 57 25 96.470795 the 5 1 1 2 7 10 1309 299 119 30 96.597450 pledge 5 1 1 2 7 11 1450 298 41 24 96.275215 of 5 1 1 2 7 12 1510 298 56 25 96.909637 the 4 1 1 2 8 0 155 331 1373 35 -1 5 1 1 2 8 1 155 341 95 25 91.042984 gross 5 1 1 2 8 2 272 335 159 30 91.042984 veceipts 5 1 1 2 8 3 453 338 60 22 94.969284 tax 5 1 1 2 8 4 533 335 77 24 96.339737 made 5 1 1 2 8 5 634 333 39 27 95.833725 in 5 1 1 2 8 6 692 333 76 26 95.557983 this 5 1 1 2 8 7 789 333 141 25 96.701729 section 5 1 1 2 8 8 950 332 40 26 96.788452 is 5 1 1 2 8 9 1011 340 38 18 95.487183 so 5 1 1 2 8 10 1068 334 80 23 95.487183 made 5 1 1 2 8 11 1171 331 39 26 96.751892 in 5 1 1 2 8 12 1230 333 58 24 96.319031 the 5 1 1 2 8 13 1309 331 159 26 96.452332 exercise 5 1 1 2 8 14 1490 331 38 24 96.756386 of 3 1 1 3 0 0 153 365 1435 63 -1 4 1 1 3 1 0 153 365 1435 33 -1 5 1 1 3 1 1 153 369 58 23 96.294395 the 5 1 1 3 1 2 233 370 159 23 77.788353 reserved 5 1 1 3 1 3 413 375 99 23 96.071480 power 5 1 1 3 1 4 533 375 38 17 96.791656 so 5 1 1 3 1 5 591 371 41 22 96.792244 to 5 1 1 3 1 6 653 369 39 23 96.405464 do 5 1 1 3 1 7 712 366 178 26 92.207184 contained 5 1 1 3 1 8 914 366 38 27 96.028931 in 5 1 1 3 1 9 972 365 76 26 96.669861 said 5 1 1 3 1 10 1069 365 197 26 96.554497 Section 5 1 1 3 1 11 1232 361 38 41 96.070015 12 5 1 1 3 1 12 1290 365 38 25 96.070015 of 5 1 1 3 1 13 1350 366 57 24 96.883392 the 5 1 1 3 1 14 1430 370 78 25 95.724831 open 5 1 1 3 1 15 1530 365 58 24 96.164093 end 4 1 1 3 2 0 154 401 192 27 -1 5 1 1 3 2 1 154 401 192 27 95.817924 ordinance, 2 1 2 0 0 0 152 465 1457 506 -1 3 1 2 1 0 0 152 465 1457 506 -1 4 1 2 1 1 0 255 465 1193 39 -1 5 1 2 1 1 1 255 469 137 30 96.394737 Section 5 1 2 1 1 2 414 470 54 25 93.943436 12. 5 1 2 1 1 3 513 468 217 26 96.389618 Reservation 5 1 2 1 1 4 753 469 37 24 96.158661 of 5 1 2 1 1 5 812 466 99 38 95.977638 Right 5 1 2 1 1 6 929 470 42 22 95.877747 to 5 1 2 1 1 7 992 468 97 24 89.893105 Issue 5 1 2 1 1 8 1109 466 199 26 89.893105 Additional 5 1 2 1 1 9 1329 465 119 36 37.064480 Parity 4 1 2 1 2 0 155 500 1414 34 -1 5 1 2 1 2 1 155 502 211 28 92.586678 Securities. 5 1 2 1 2 2 433 504 56 24 96.470024 The 5 1 2 1 2 3 514 507 77 27 93.895729 city 5 1 2 1 2 4 612 509 157 19 96.144547 reserves 5 1 2 1 2 5 796 504 53 23 96.352669 the 5 1 2 1 2 6 873 503 97 30 94.969788 right 5 1 2 1 2 7 991 505 39 22 96.577850 to 5 1 2 1 2 8 1050 506 99 26 94.567078 issue 5 1 2 1 2 9 1170 504 38 22 96.441284 at 5 1 2 1 2 10 1229 507 60 24 96.164093 any 5 1 2 1 2 11 1310 504 78 22 95.954643 time 5 1 2 1 2 12 1410 500 58 32 95.945663 and 5 1 2 1 2 13 1490 500 79 25 96.547279 from 4 1 2 1 3 0 154 532 1433 35 -1 5 1 2 1 3 1 154 541 77 21 86.247681 time 5 1 2 1 3 2 254 541 37 22 96.445091 to 5 1 2 1 3 3 313 532 78 30 90.537506 time 5 1 2 1 3 4 413 535 198 28 96.353065 additional 5 1 2 1 3 5 633 535 118 32 96.686615 parity 5 1 2 1 3 6 773 535 196 26 96.178978 securities 5 1 2 1 3 7 996 535 153 29 96.178978 (whether 5 1 2 1 3 8 1169 533 40 27 96.652237 in 5 1 2 1 3 9 1230 534 59 26 95.559479 the 5 1 2 1 3 10 1311 535 79 32 58.145454 form 5 1 2 1 3 11 1405 534 43 27 58.145454 -of 5 1 2 1 3 12 1470 534 117 30 96.700493 bonds, 4 1 2 1 4 0 152 567 1435 35 -1 5 1 2 1 4 1 152 574 176 28 93.252319 warrants, 5 1 2 1 4 2 353 570 255 32 90.680489 certifidates, 5 1 2 1 4 3 633 569 41 31 96.593552 or 5 1 2 1 4 4 692 570 115 29 96.397186 notes) 5 1 2 1 4 5 830 569 100 31 96.433212 which 5 1 2 1 4 6 949 571 61 24 96.006989 the 5 1 2 1 4 7 1033 569 78 31 95.540459 city 5 1 2 1 4 8 1129 575 59 24 95.803810 may 5 1 2 1 4 9 1210 572 38 22 96.716202 at 5 1 2 1 4 10 1269 569 58 31 96.918442 the 5 1 2 1 4 11 1351 567 76 27 96.525902 time 5 1 2 1 4 12 1450 568 38 25 96.119850 of 5 1 2 1 4 13 1510 568 77 25 96.860405 such 4 1 2 1 5 0 154 602 1394 33 -1 5 1 2 1 5 1 154 603 157 27 96.342468 issuance 5 1 2 1 5 2 332 605 39 25 96.532028 be 5 1 2 1 5 3 394 605 157 30 95.631432 lawfully 5 1 2 1 5 4 573 604 198 26 96.274696 authorized 5 1 2 1 5 5 793 608 38 21 96.238457 to 5 1 2 1 5 6 853 602 113 33 96.130310 issue, 5 1 2 1 5 7 991 604 58 29 95.603363 and 5 1 2 1 5 8 1071 606 40 22 95.603363 to 5 1 2 1 5 9 1128 604 121 30 95.801491 pledge 5 1 2 1 5 10 1271 602 59 25 94.494102 for 5 1 2 1 5 11 1351 605 136 28 96.154228 payment 5 1 2 1 5 12 1511 602 37 25 96.560249 of 4 1 2 1 6 0 152 635 1435 35 -1 5 1 2 1 6 1 152 640 60 24 95.402306 the 5 1 2 1 6 2 231 638 181 32 96.289642 principal 5 1 2 1 6 3 433 640 138 24 96.341942 thereof 5 1 2 1 6 4 592 639 60 30 96.468643 and 5 1 2 1 6 5 673 637 157 26 96.468643 interest 5 1 2 1 6 6 852 638 137 25 96.176262 thereon 5 1 2 1 6 7 1011 644 59 24 96.370209 pro 5 1 2 1 6 8 1090 640 78 29 96.480713 rata 5 1 2 1 6 9 1191 638 58 23 95.897644 and 5 1 2 1 6 10 1271 643 37 18 93.327194 on 5 1 2 1 6 11 1330 643 19 18 91.291855 a 5 1 2 1 6 12 1370 635 119 31 95.505920 parity 5 1 2 1 6 13 1506 635 81 29 96.181839 with 4 1 2 1 7 0 153 669 1414 34 -1 5 1 2 1 7 1 153 673 58 24 96.096794 the 5 1 2 1 7 2 234 673 117 30 96.881683 pledge 5 1 2 1 7 3 374 674 38 23 96.621941 of 5 1 2 1 7 4 433 674 57 23 96.784927 the 5 1 2 1 7 5 514 679 96 24 96.064880 gross 5 1 2 1 7 6 632 671 160 31 96.276154 receipts 5 1 2 1 7 7 812 675 59 21 96.241318 tax 5 1 2 1 7 8 891 674 78 22 95.738342 made 5 1 2 1 7 9 991 670 37 27 96.708664 in 5 1 2 1 7 10 1051 669 138 27 95.858856 Section 5 1 2 1 7 11 1211 671 38 24 96.032166 11 5 1 2 1 7 12 1271 671 38 24 96.032166 of 5 1 2 1 7 13 1331 671 59 26 96.883949 the 5 1 2 1 7 14 1410 676 78 25 96.408165 open 5 1 2 1 7 15 1509 671 58 24 96.765884 end 4 1 2 1 8 0 154 704 1355 32 -1 5 1 2 1 8 1 154 705 177 28 89.559647 ordinanee 5 1 2 1 8 2 354 707 58 24 96.535126 and 5 1 2 1 8 3 432 706 39 25 96.535126 in 5 1 2 1 8 4 494 705 137 26 96.407051 Section 5 1 2 1 8 5 652 706 39 30 96.761070 11 5 1 2 1 8 6 713 706 38 25 96.873215 of 5 1 2 1 8 7 773 705 77 25 96.922691 this 5 1 2 1 8 8 869 704 197 31 52.157879 ordinance, 5 1 2 1 8 9 1090 706 58 23 95.147339 and 5 1 2 1 8 10 1170 710 60 24 95.371864 pro 5 1 2 1 8 11 1250 707 78 21 95.842911 rata 5 1 2 1 8 12 1350 704 59 24 96.475044 and 5 1 2 1 8 13 1430 710 38 18 94.382545 on 5 1 2 1 8 14 1489 709 20 18 94.382545 a 4 1 2 1 9 0 154 736 1354 36 -1 5 1 2 1 9 1 154 740 118 30 92.072403 parity 5 1 2 1 9 2 293 740 81 25 96.703682 with 5 1 2 1 9 3 394 741 57 24 96.227303 the 5 1 2 1 9 4 475 738 75 26 96.524208 like 5 1 2 1 9 5 573 741 117 30 96.601624 pledge 5 1 2 1 9 6 713 739 78 26 96.143356 that 5 1 2 1 9 7 809 745 61 24 96.143356 may 5 1 2 1 9 8 891 740 38 32 96.487167 be 5 1 2 1 9 9 951 740 78 23 96.740204 made 5 1 2 1 9 10 1049 738 61 25 95.812988 for 5 1 2 1 9 11 1130 738 58 24 96.189224 the 5 1 2 1 9 12 1211 736 137 26 96.767105 benefit 5 1 2 1 9 13 1371 737 38 24 96.154129 of 5 1 2 1 9 14 1430 737 78 24 96.918037 each 4 1 2 1 10 0 153 769 1456 37 -1 5 1 2 1 10 1 153 773 118 26 96.040260 series 5 1 2 1 10 2 294 775 38 23 95.834999 of 5 1 2 1 10 3 354 773 57 25 95.856422 the 5 1 2 1 10 4 433 772 199 26 96.374702 additional 5 1 2 1 10 5 653 772 119 34 96.525238 parity 5 1 2 1 10 6 793 771 214 31 96.173012 securities, 5 1 2 1 10 7 1032 778 38 19 95.872238 so 5 1 2 1 10 8 1090 773 79 23 96.862335 much 5 1 2 1 10 9 1192 771 37 25 96.008713 of 5 1 2 1 10 10 1250 770 57 30 96.610413 the 5 1 2 1 10 11 1331 777 96 24 96.483315 gross 5 1 2 1 10 12 1449 769 160 37 96.257057 receipts 4 1 2 1 11 0 154 803 1415 35 -1 5 1 2 1 11 1 154 810 61 23 96.363060 tax 5 1 2 1 11 2 236 809 56 24 96.281372 and 5 1 2 1 11 3 313 809 57 23 96.577255 the 5 1 2 1 11 4 392 808 160 30 95.694794 proceeds 5 1 2 1 11 5 572 808 180 24 96.690437 therefrom 5 1 2 1 11 6 772 812 38 19 96.086021 as 5 1 2 1 11 7 830 813 60 23 96.086021 may 5 1 2 1 11 8 912 807 37 24 96.378738 be 5 1 2 1 11 9 970 811 179 24 95.776039 necessary 5 1 2 1 11 10 1171 808 39 21 95.660080 to 5 1 2 1 11 11 1231 811 58 24 96.756844 pay 5 1 2 1 11 12 1310 805 59 24 96.514648 the 5 1 2 1 11 13 1390 803 179 32 95.714127 principal 4 1 2 1 12 0 154 837 1373 36 -1 5 1 2 1 12 1 154 842 38 24 95.746887 of 5 1 2 1 12 2 216 843 56 24 96.571068 and 5 1 2 1 12 3 294 840 157 27 96.686752 interest 5 1 2 1 12 4 474 849 38 17 96.389145 on 5 1 2 1 12 5 533 842 58 24 96.803925 the 5 1 2 1 12 6 613 840 197 26 96.063408 additional 5 1 2 1 12 7 830 839 120 33 96.196472 parity 5 1 2 1 12 8 972 838 196 27 96.337547 securities 5 1 2 1 12 9 1190 842 39 22 96.697701 at 5 1 2 1 12 10 1251 839 57 34 96.662392 the 5 1 2 1 12 11 1330 837 197 31 96.290398 respective 4 1 2 1 13 0 152 871 1436 35 -1 5 1 2 1 13 1 152 875 198 27 96.424698 maturities 5 1 2 1 13 2 377 876 38 24 96.599373 of 5 1 2 1 13 3 438 875 74 25 96.354294 said 5 1 2 1 13 4 533 873 178 33 95.156181 principal 5 1 2 1 13 5 732 875 58 24 95.156181 and 5 1 2 1 13 6 813 872 173 32 95.200150 interest; 5 1 2 1 13 7 1011 872 175 32 96.127472 provided, 5 1 2 1 13 8 1209 874 80 23 96.888359 that 5 1 2 1 13 9 1310 879 39 18 96.676422 no 5 1 2 1 13 10 1371 872 77 30 96.505508 such 5 1 2 1 13 11 1470 871 118 31 96.586845 parity 4 1 2 1 14 0 154 904 1450 36 -1 5 1 2 1 14 1 154 909 117 31 96.020065 pledge 5 1 2 1 14 2 291 916 60 23 96.854141 may 5 1 2 1 14 3 373 910 38 23 96.879753 be 5 1 2 1 14 4 432 910 79 23 94.793030 made 5 1 2 1 14 5 533 909 118 24 96.266197 unless 5 1 2 1 14 6 670 909 60 23 96.764755 the 5 1 2 1 14 7 750 906 198 31 96.614998 conditions 5 1 2 1 14 8 972 908 57 23 96.150757 set 5 1 2 1 14 9 1052 910 57 22 86.169846 out 5 1 2 1 14 10 1131 905 38 25 95.882515 in 5 1 2 1 14 11 1190 905 218 26 95.394859 subsections 5 1 2 1 14 12 1434 904 70 31 93.302483 (a), 5 1 2 1 14 13 1535 904 69 31 91.018715 (b), 4 1 2 1 15 0 153 938 1310 33 -1 5 1 2 1 15 1 153 943 60 24 95.339897 and 5 1 2 1 15 2 238 941 49 27 49.176071 (ec) 5 1 2 1 15 3 317 943 37 24 93.241196 of 5 1 2 1 15 4 373 941 139 26 63.201347 Seetion 5 1 2 1 15 5 533 943 36 24 96.866409 12 5 1 2 1 15 6 593 942 38 24 96.683685 of 5 1 2 1 15 7 653 942 57 24 96.184540 the 5 1 2 1 15 8 733 947 77 24 96.140251 open 5 1 2 1 15 9 832 942 58 24 96.883636 end 5 1 2 1 15 10 912 939 177 27 96.563911 ordinance 5 1 2 1 15 11 1110 946 59 19 96.125610 are 5 1 2 1 15 12 1190 938 159 32 96.378639 complied 5 1 2 1 15 13 1369 938 94 27 95.666557 with, 2 1 3 0 0 0 153 1004 1472 674 -1 3 1 3 1 0 0 153 1004 1472 674 -1 4 1 3 1 1 0 254 1004 1352 31 -1 5 1 3 1 1 1 254 1007 138 27 95.492775 Section 5 1 3 1 1 2 412 1009 56 25 87.455254 13. 5 1 3 1 1 3 513 1008 217 27 72.956810 Maintenance 5 1 3 1 1 4 753 1008 38 25 96.000298 of 5 1 3 1 1 5 812 1008 57 24 96.053246 the 5 1 3 1 1 6 892 1008 96 23 96.100754 Gross 5 1 3 1 1 7 1011 1005 157 30 71.399811 Receipts 5 1 3 1 1 8 1190 1007 74 24 45.190624 Tax. 5 1 3 1 1 9 1310 1005 58 26 96.262268 The 5 1 3 1 1 10 1391 1004 77 30 96.159981 city 5 1 3 1 1 11 1490 1011 116 23 96.647575 agrees 4 1 3 1 2 0 154 1036 1377 37 -1 5 1 3 1 2 1 154 1043 78 25 96.484184 that 5 1 3 1 2 2 254 1049 38 18 96.041077 so 5 1 3 1 2 3 314 1043 136 30 96.040627 long 5 1 3 1 2 4 416 1032 42 45 96.445595 as 5 1 3 1 2 5 473 1048 59 24 96.819717 any 5 1 3 1 2 6 554 1037 36 29 96.302849 of 5 1 3 1 2 7 614 1044 57 22 96.461891 the 5 1 3 1 2 8 692 1036 178 36 94.518127 principal 5 1 3 1 2 9 892 1036 35 29 96.226669 of 5 1 3 1 2 10 952 1047 39 18 93.298050 or 5 1 3 1 2 11 1011 1043 159 23 91.806366 intérest 5 1 3 1 2 12 1191 1046 38 18 94.825790 on 5 1 3 1 2 13 1251 1039 57 24 95.951691 the 5 1 3 1 2 14 1328 1037 203 26 96.252380 authorized 4 1 3 1 3 0 154 1072 1395 34 -1 5 1 3 1 3 1 154 1075 196 26 95.893600 securities 5 1 3 1 3 2 371 1074 139 28 96.867386 remains 5 1 3 1 3 3 533 1074 135 32 96.302795 unpaid, 5 1 3 1 3 4 694 1082 37 17 96.206619 or 5 1 3 1 3 5 753 1073 99 26 93.776123 until 5 1 3 1 3 6 871 1073 179 31 96.157127 provision 5 1 3 1 3 7 1072 1073 97 25 96.284508 shall 5 1 3 1 3 8 1190 1074 79 23 96.223579 have 5 1 3 1 3 9 1289 1073 80 24 96.223579 been 5 1 3 1 3 10 1390 1072 79 25 96.589622 made 5 1 3 1 3 11 1491 1072 58 26 96.913643 for 4 1 3 1 4 0 155 1104 1412 36 -1 5 1 3 1 4 1 155 1110 78 25 96.312164 full 5 1 3 1 4 2 253 1112 139 28 96.187843 payment 5 1 3 1 4 3 413 1109 40 25 96.410248 of 5 1 3 1 4 4 474 1108 78 30 96.525726 said 5 1 3 1 4 5 573 1108 178 31 84.796585 principal 5 1 3 1 4 6 772 1109 61 24 96.204422 and 5 1 3 1 4 7 853 1107 256 31 96.001038 interest, 5 1 3 1 4 8 1053 1100 59 44 96.898064 the 5 1 3 1 4 9 1132 1105 77 31 96.001076 city 5 1 3 1 4 10 1230 1105 80 30 96.206955 will 5 1 3 1 4 11 1332 1104 156 27 95.720642 continue 5 1 3 1 4 12 1510 1106 57 24 96.939316 the 4 1 3 1 5 0 155 1138 1434 35 -1 5 1 3 1 5 1 155 1144 77 29 96.631393 levy 5 1 3 1 5 2 253 1143 40 25 95.641373 of 5 1 3 1 5 3 312 1144 59 24 95.723801 and 5 1 3 1 5 4 392 1142 79 26 95.723801 will 5 1 3 1 5 5 495 1143 136 25 77.150116 collect 5 1 3 1 5 6 653 1139 57 28 96.635719 the 5 1 3 1 5 7 731 1144 98 28 96.364594 gross 5 1 3 1 5 8 852 1140 156 31 96.377914 receipts 5 1 3 1 5 9 1036 1144 56 21 96.503471 tax 5 1 3 1 5 10 1114 1143 35 22 96.614029 at 5 1 3 1 5 11 1171 1140 58 25 96.614029 the 5 1 3 1 5 12 1249 1142 100 23 96.332039 rates 5 1 3 1 5 13 1372 1138 137 30 96.295174 thereof 5 1 3 1 5 14 1527 1138 62 25 96.148552 not 4 1 3 1 6 0 155 1171 1353 35 -1 5 1 3 1 6 1 155 1177 76 24 95.464287 less 5 1 3 1 6 2 254 1178 78 23 95.580788 than 5 1 3 1 6 3 352 1178 59 23 96.854141 the 5 1 3 1 6 4 433 1179 97 22 96.088242 rates 5 1 3 1 6 5 554 1176 177 30 96.344856 presently 5 1 3 1 6 6 753 1174 39 26 93.035561 in 5 1 3 1 6 7 813 1175 117 25 87.916122 effeet 5 1 3 1 6 8 952 1175 58 29 95.910233 and 5 1 3 1 6 9 1032 1172 136 27 95.887207 without 5 1 3 1 6 10 1190 1172 179 31 95.887207 reduction 5 1 3 1 6 11 1392 1171 38 27 96.470200 in 5 1 3 1 6 12 1450 1174 58 23 96.740623 the 4 1 3 1 7 0 155 1206 1452 36 -1 5 1 3 1 7 1 155 1213 177 29 95.455719 aggregate 5 1 3 1 7 2 352 1211 120 24 95.455719 annual 5 1 3 1 7 3 494 1210 178 24 95.764633 amount 5 1 3 1 7 4 635 1202 41 44 96.576225 of 5 1 3 1 7 5 692 1210 58 24 96.576225 the 5 1 3 1 7 6 773 1208 156 31 85.224411 proceeds 5 1 3 1 7 7 952 1208 153 30 92.829102 thereof, 5 1 3 1 7 8 1150 1207 39 25 80.870926 In 5 1 3 1 7 9 1211 1206 160 26 96.223145 addition 5 1 3 1 7 10 1390 1206 155 30 96.223145 thereto, 5 1 3 1 7 11 1570 1212 37 18 96.286789 as 4 1 3 1 8 0 155 1238 1452 35 -1 5 1 3 1 8 1 155 1245 77 23 96.496689 such 5 1 3 1 8 2 254 1243 118 26 95.525803 action 5 1 3 1 8 3 391 1244 121 26 96.113449 should 5 1 3 1 8 4 532 1244 118 24 96.385117 become 5 1 3 1 8 5 673 1249 178 24 95.891838 necessary 5 1 3 1 8 6 872 1245 39 21 96.666740 to 5 1 3 1 8 7 932 1248 58 24 96.368172 pay 5 1 3 1 8 8 1012 1244 37 23 96.864700 at 5 1 3 1 8 9 1072 1240 98 26 96.130966 their 5 1 3 1 8 10 1190 1239 198 33 96.645988 respective 5 1 3 1 8 11 1410 1238 197 27 96.708565 maturities 4 1 3 1 9 0 153 1273 1436 35 -1 5 1 3 1 9 1 153 1278 60 23 96.715370 the 5 1 3 1 9 2 233 1276 239 31 96.267807 principal 5 1 3 1 9 3 435 1269 41 43 95.951004 of 5 1 3 1 9 4 493 1278 61 24 96.873116 and 5 1 3 1 9 5 574 1276 156 26 96.751595 interest 5 1 3 1 9 6 753 1283 37 17 96.390915 on 5 1 3 1 9 7 813 1276 56 25 96.324203 the 5 1 3 1 9 8 891 1275 198 26 96.812057 authorized 5 1 3 1 9 9 1111 1273 197 27 83.208351 securities 5 1 3 1 9 10 1331 1274 58 24 96.173767 and 5 1 3 1 9 11 1410 1274 58 34 94.128181 all 5 1 3 1 9 12 1490 1274 99 30 94.007812 other 4 1 3 1 10 0 154 1306 1374 35 -1 5 1 3 1 10 1 154 1310 259 27 96.492706 securities 5 1 3 1 10 2 375 1302 41 43 96.579582 of 5 1 3 1 10 3 434 1312 57 24 96.346687 the 5 1 3 1 10 4 515 1309 77 32 96.346687 city 5 1 3 1 10 5 615 1311 79 24 96.356804 that 5 1 3 1 10 6 716 1309 95 31 96.402550 might 5 1 3 1 10 7 832 1313 39 21 96.038681 at 5 1 3 1 10 8 892 1315 59 24 96.683685 any 5 1 3 1 10 9 971 1308 78 26 96.810669 time 5 1 3 1 10 10 1071 1309 38 23 96.810669 be 5 1 3 1 10 11 1131 1307 158 26 95.421082 entitled 5 1 3 1 10 12 1308 1311 44 21 95.573975 to 5 1 3 1 10 13 1371 1308 97 24 95.573975 share 5 1 3 1 10 14 1489 1306 39 26 96.024620 in 4 1 3 1 11 0 154 1339 1396 37 -1 5 1 3 1 11 1 154 1346 57 23 96.834885 the 5 1 3 1 11 2 234 1346 157 30 96.433594 proceeds 5 1 3 1 11 3 414 1345 38 24 96.616028 of 5 1 3 1 11 4 474 1345 59 25 96.629387 the 5 1 3 1 11 5 555 1351 95 24 94.447411 gross 5 1 3 1 11 6 671 1342 159 32 94.447411 receipts 5 1 3 1 11 7 855 1347 57 21 96.571518 tax 5 1 3 1 11 8 933 1350 39 18 95.417236 on 5 1 3 1 11 9 992 1350 18 18 95.671013 a 5 1 3 1 11 10 1032 1341 120 32 95.830406 parity 5 1 3 1 11 11 1170 1341 81 25 96.758698 with 5 1 3 1 11 12 1271 1342 57 25 96.560165 the 5 1 3 1 11 13 1350 1339 200 27 96.542976 authorized 4 1 3 1 12 0 154 1375 1334 34 -1 5 1 3 1 12 1 154 1377 215 32 51.138210 securities, 5 1 3 1 12 2 394 1380 57 23 96.834000 the 5 1 3 1 12 3 475 1377 77 31 96.609245 city 5 1 3 1 12 4 573 1384 117 25 96.661476 agrees 5 1 3 1 12 5 713 1378 79 23 96.778221 that 5 1 3 1 12 6 812 1376 39 25 96.034508 it 5 1 3 1 12 7 872 1376 78 25 88.884895 will 5 1 3 1 12 8 974 1378 75 28 95.207191 levy 5 1 3 1 12 9 1071 1377 58 24 96.405663 and 5 1 3 1 12 10 1152 1376 137 24 96.650200 collect 5 1 3 1 12 11 1310 1375 59 24 96.451820 the 5 1 3 1 12 12 1389 1381 99 24 96.602638 gross 4 1 3 1 13 0 153 1407 1472 35 -1 5 1 3 1 13 1 153 1412 157 30 96.014900 receipts 5 1 3 1 13 2 334 1415 60 22 95.844933 tax 5 1 3 1 13 3 413 1416 38 21 96.546524 at 5 1 3 1 13 4 474 1412 77 24 96.595634 auch 5 1 3 1 13 5 574 1414 78 23 96.456047 rate 5 1 3 1 13 6 674 1416 38 19 96.729256 or 5 1 3 1 13 7 733 1413 96 22 96.098572 rates 5 1 3 1 13 8 851 1417 38 17 96.517929 as 5 1 3 1 13 9 913 1410 99 24 96.322624 shall 5 1 3 1 13 10 1031 1410 78 24 96.874313 make 5 1 3 1 13 11 1131 1408 178 26 96.006561 available 5 1 3 1 13 12 1331 1408 157 30 96.798553 proceeds 5 1 3 1 13 13 1509 1407 116 30 96.596916 which, 4 1 3 1 14 0 153 1440 1418 34 -1 5 1 3 1 14 1 153 1446 81 25 96.364990 when 5 1 3 1 14 2 254 1447 98 24 96.011200 added 5 1 3 1 14 3 374 1448 39 22 96.368538 to 5 1 3 1 14 4 435 1447 56 24 95.728508 the 5 1 3 1 14 5 513 1451 157 19 96.684349 revenues 5 1 3 1 14 6 694 1445 39 25 96.585831 of 5 1 3 1 14 7 753 1445 58 23 96.941589 the 5 1 3 1 14 8 833 1443 78 31 96.436226 city 5 1 3 1 14 9 933 1444 79 26 95.525009 from 5 1 3 1 14 10 1034 1444 97 24 95.525009 other 5 1 3 1 14 11 1152 1448 137 19 92.375259 sources 5 1 3 1 14 12 1310 1440 178 27 93.756935 available 5 1 3 1 14 13 1510 1442 61 24 96.612724 for 4 1 3 1 15 0 153 1475 1336 35 -1 5 1 3 1 15 1 153 1481 79 23 96.390137 such 5 1 3 1 15 2 255 1482 177 28 96.647850 purposes, 5 1 3 1 15 3 452 1478 82 26 96.268501 will 5 1 3 1 15 4 552 1479 39 24 96.841278 be 5 1 3 1 15 5 611 1477 199 27 95.851509 sufficient 5 1 3 1 15 6 832 1481 39 22 96.773430 to 5 1 3 1 15 7 891 1484 59 24 95.754875 pay 5 1 3 1 15 8 972 1478 57 24 96.393997 the 5 1 3 1 15 9 1055 1478 197 24 95.972816 reasonable 5 1 3 1 15 10 1270 1483 155 24 95.899689 expenses 5 1 3 1 15 11 1446 1475 43 32 49.339912 of 4 1 3 1 16 0 154 1510 1413 35 -1 5 1 3 1 16 1 154 1513 159 32 96.160347 carrying 5 1 3 1 16 2 334 1521 39 17 96.484612 on 5 1 3 1 16 3 394 1514 58 24 96.815964 the 5 1 3 1 16 4 476 1519 175 23 96.216759 necessary 5 1 3 1 16 5 673 1513 237 30 96.314926 governmental 5 1 3 1 16 6 932 1511 177 25 31.551559 functions 5 1 3 1 16 7 1132 1511 39 24 96.536446 of 5 1 3 1 16 8 1192 1511 58 24 96.320892 the 5 1 3 1 16 9 1268 1510 81 31 96.656052 city 5 1 3 1 16 10 1368 1511 58 24 95.683792 and 5 1 3 1 16 11 1446 1511 43 23 86.489189 ‘to 5 1 3 1 16 12 1508 1510 59 30 95.658272 pay 4 1 3 1 17 0 154 1544 1334 33 -1 5 1 3 1 17 1 154 1550 40 22 95.913651 at 5 1 3 1 17 2 215 1547 99 30 95.913651 their 5 1 3 1 17 3 334 1546 197 31 96.396683 respective 5 1 3 1 17 4 554 1545 196 27 96.124901 maturities 5 1 3 1 17 5 772 1547 58 27 96.972443 the 5 1 3 1 17 6 853 1544 177 32 96.648438 principal 5 1 3 1 17 7 1053 1544 36 25 96.970100 of 5 1 3 1 17 8 1111 1545 58 25 96.470421 and 5 1 3 1 17 9 1192 1544 157 25 96.470421 interest 5 1 3 1 17 10 1372 1551 37 18 96.579865 on 5 1 3 1 17 11 1431 1544 57 24 96.782600 the 4 1 3 1 18 0 154 1575 1435 33 -1 5 1 3 1 18 1 154 1580 199 25 96.241425 authorized 5 1 3 1 18 2 374 1579 197 26 96.241425 securities 5 1 3 1 18 3 592 1581 60 23 96.087173 and 5 1 3 1 18 4 676 1581 55 23 95.029785 all 5 1 3 1 18 5 751 1580 100 28 95.029785 other 5 1 3 1 18 6 873 1577 196 27 96.092178 securities 5 1 3 1 18 7 1093 1577 38 25 94.964127 of 5 1 3 1 18 8 1149 1579 59 23 96.114494 the 5 1 3 1 18 9 1232 1577 77 30 96.461151 city 5 1 3 1 18 10 1332 1578 79 24 96.801491 that 5 1 3 1 18 11 1431 1575 98 32 96.676178 might 5 1 3 1 18 12 1550 1580 39 21 96.058548 at 4 1 3 1 19 0 155 1609 1415 35 -1 5 1 3 1 19 1 155 1620 57 24 96.779182 any 5 1 3 1 19 2 234 1613 78 26 96.610214 time 5 1 3 1 19 3 334 1615 38 23 96.573601 be 5 1 3 1 19 4 394 1612 158 26 95.876678 entitled 5 1 3 1 19 5 574 1616 38 22 96.693604 to 5 1 3 1 19 6 634 1614 97 24 96.858009 share 5 1 3 1 19 7 753 1612 38 26 96.270935 in 5 1 3 1 19 8 813 1613 56 24 96.154266 the 5 1 3 1 19 9 892 1613 157 29 95.916489 proceeds 5 1 3 1 19 10 1072 1613 39 23 96.530251 of 5 1 3 1 19 11 1132 1612 57 24 96.384537 the 5 1 3 1 19 12 1213 1618 97 24 96.206734 gross 5 1 3 1 19 13 1331 1609 157 31 92.513046 receipts 5 1 3 1 19 14 1511 1613 59 22 96.434860 tax 4 1 3 1 20 0 155 1644 851 34 -1 5 1 3 1 20 1 155 1655 38 17 90.457489 on 5 1 3 1 20 2 215 1655 18 17 90.457489 a 5 1 3 1 20 3 255 1646 117 32 66.886063 parity 5 1 3 1 20 4 393 1645 79 27 96.627357 with 5 1 3 1 20 5 494 1648 56 23 96.747047 the 5 1 3 1 20 6 574 1645 199 26 92.312332 authorized 5 1 3 1 20 7 791 1644 215 26 66.591553 sécurities. 2 1 4 0 0 0 153 1709 1527 370 -1 3 1 4 1 0 0 153 1709 1527 370 -1 4 1 4 1 1 0 255 1709 1313 33 -1 5 1 4 1 1 1 255 1713 139 27 95.474762 Section 5 1 4 1 1 2 415 1714 53 26 60.124023 14. 5 1 4 1 1 3 514 1714 96 25 96.432068 Gross 5 1 4 1 1 4 632 1712 160 30 96.167007 Receipts 5 1 4 1 1 5 811 1712 60 28 95.241585 Tax 5 1 4 1 1 6 893 1712 93 26 95.241585 Fund. 5 1 4 1 1 7 1030 1712 60 24 79.690262 The 5 1 4 1 1 8 1113 1709 139 33 91.041206 special 5 1 4 1 1 9 1272 1710 78 25 96.647362 fund 5 1 4 1 1 10 1372 1710 117 29 95.852089 called 5 1 4 1 1 11 1510 1709 58 29 96.980408 the 4 1 4 1 2 0 155 1742 1413 38 -1 5 1 4 1 2 1 155 1755 97 25 94.693550 gross 5 1 4 1 2 2 274 1748 157 31 94.693550 receipts 5 1 4 1 2 3 454 1752 60 21 94.172249 tax 5 1 4 1 2 4 535 1744 78 29 94.172249 fund 5 1 4 1 2 5 635 1750 136 23 96.460258 created 5 1 4 1 2 6 794 1754 37 18 95.860001 in 5 1 4 1 2 7 851 1742 140 34 93.843750 Section 5 1 4 1 2 8 1014 1747 37 24 93.454849 14 5 1 4 1 2 9 1073 1747 37 24 96.623001 of 5 1 4 1 2 10 1132 1747 57 23 96.540039 the 5 1 4 1 2 11 1212 1752 78 24 96.236160 open 5 1 4 1 2 12 1311 1746 59 24 95.993301 end 5 1 4 1 2 13 1393 1743 175 30 95.979645 ordinance 4 1 4 1 3 0 155 1777 1474 35 -1 5 1 4 1 3 1 155 1783 99 25 88.007309 shall 5 1 4 1 3 2 275 1783 38 24 96.932930 be 5 1 4 1 3 3 335 1781 178 26 96.397728 continued 5 1 4 1 3 4 533 1783 59 24 96.616714 and 5 1 4 1 3 5 613 1780 200 32 96.371002 maintained 5 1 4 1 3 6 833 1780 97 27 67.099388 until 5 1 4 1 3 7 952 1781 79 27 96.232552 both 5 1 4 1 3 8 1050 1781 59 24 96.458481 the 5 1 4 1 3 9 1133 1778 237 32 91.207283 principal: 5 1 4 1 3 10 1340 1773 37 43 96.307503 of 5 1 4 1 3 11 1391 1779 59 24 96.387138 and 5 1 4 1 3 12 1472 1777 157 26 96.615295 interest 4 1 4 1 4 0 153 1810 1415 35 -1 5 1 4 1 4 1 153 1823 40 18 96.232033 on 5 1 4 1 4 2 216 1817 55 24 96.220627 the 5 1 4 1 4 3 295 1815 197 26 96.487526 authorized 5 1 4 1 4 4 514 1814 196 26 96.448708 securities 5 1 4 1 4 5 733 1814 98 25 95.784393 shall 5 1 4 1 4 6 851 1815 79 28 96.644630 have 5 1 4 1 4 7 953 1815 79 24 95.468796 been 5 1 4 1 4 8 1052 1813 77 32 96.576462 paid 5 1 4 1 4 9 1153 1812 36 26 96.717178 in 5 1 4 1 4 10 1190 1814 117 28 95.729126 full, 5 1 4 1 4 11 1332 1814 57 23 95.868622 and 5 1 4 1 4 12 1411 1812 59 28 96.368835 the 5 1 4 1 4 13 1491 1810 77 33 96.488129 city 4 1 4 1 5 0 154 1845 1455 35 -1 5 1 4 1 5 1 154 1849 78 25 96.373695 will 5 1 4 1 5 2 253 1850 79 24 96.481064 make 5 1 4 1 5 3 357 1849 159 31 48.454216 payments: 5 1 4 1 5 4 540 1849 73 26 95.311501 into 5 1 4 1 5 5 635 1850 56 24 96.847916 the 5 1 4 1 5 6 713 1847 138 32 95.862694 special 5 1 4 1 5 7 872 1848 96 30 95.862694 fund, 5 1 4 1 5 8 991 1847 122 31 96.575989 during 5 1 4 1 5 9 1132 1848 78 23 96.303818 each 5 1 4 1 5 10 1232 1845 196 26 14.705994 successive 5 1 4 1 5 11 1451 1846 158 26 96.162186 calendar 4 1 4 1 6 0 154 1867 1526 47 -1 5 1 4 1 6 1 154 1884 115 30 96.479103 month, 5 1 4 1 6 2 295 1883 38 25 96.472839 of 5 1 4 1 6 3 354 1884 60 23 96.520836 all 5 1 4 1 6 4 434 1885 157 28 96.403694 payments 5 1 4 1 6 5 614 1881 158 32 95.996887 required 5 1 4 1 6 6 793 1881 39 26 76.539589 to 5 1 4 1 6 7 854 1882 38 23 92.522171 be 5 1 4 1 6 8 912 1883 78 23 85.623192 madé 5 1 4 1 6 9 1012 1880 137 27 96.247383 therein 5 1 4 1 6 10 1172 1881 99 24 95.938843 under 5 1 4 1 6 11 1291 1881 58 24 95.938843 the 5 1 4 1 6 12 1372 1878 196 31 96.178680 provisions 5 1 4 1 6 13 1590 1878 39 25 95.939957 of 5 1 4 1 6 14 1678 1867 2 39 93.691833 | 4 1 4 1 7 0 155 1911 1453 35 -1 5 1 4 1 7 1 155 1916 80 28 95.857010 said 5 1 4 1 7 2 256 1916 138 25 82.638237 Section 5 1 4 1 7 3 413 1918 39 23 96.761261 14 5 1 4 1 7 4 475 1917 38 25 96.406151 of 5 1 4 1 7 5 534 1917 60 24 95.782394 the 5 1 4 1 7 6 615 1923 78 23 96.065529 open 5 1 4 1 7 7 714 1916 59 28 96.652306 end 5 1 4 1 7 8 794 1914 192 31 96.114159 ordinance. 5 1 4 1 7 9 1030 1916 60 23 66.016266 All 5 1 4 1 7 10 1112 1912 197 34 94.738403 provisions 5 1 4 1 7 11 1331 1911 200 33 96.397026 respecting 5 1 4 1 7 12 1551 1913 57 24 96.709305 the 4 1 4 1 8 0 155 1946 1394 34 -1 5 1 4 1 8 1 155 1950 139 30 95.737427 special 5 1 4 1 8 2 315 1951 95 29 93.031799 fund, 5 1 4 1 8 3 434 1951 58 24 96.684212 the 5 1 4 1 8 4 515 1949 236 31 96.305634 depositories 5 1 4 1 8 5 774 1949 174 30 95.494720 therefor, 5 1 4 1 8 6 972 1948 57 25 96.492950 the 5 1 4 1 8 7 1053 1951 97 21 95.941315 trust 5 1 4 1 8 8 1171 1950 119 22 95.941315 nature 5 1 4 1 8 9 1311 1946 155 31 96.181496 thereof, 5 1 4 1 8 10 1491 1947 58 24 96.225266 and 4 1 4 1 9 0 154 1979 1475 34 -1 5 1 4 1 9 1 154 1982 160 31 96.241867 security 5 1 4 1 9 2 335 1983 175 30 95.560036 therefor, 5 1 4 1 9 3 532 1982 102 26 95.560036 which 5 1 4 1 9 4 654 1990 57 17 96.771439 are 5 1 4 1 9 5 734 1981 178 26 96.023857 contained 5 1 4 1 9 6 933 1980 237 32 96.088264 respectively 5 1 4 1 9 7 1193 1979 36 26 92.793404 in 5 1 4 1 9 8 1250 1979 237 32 3.780014 Sectoons 5 1 4 1 9 9 1434 1975 57 42 82.879295 14, 5 1 4 1 9 10 1510 1979 37 25 93.412735 15 5 1 4 1 9 11 1571 1980 58 24 96.695190 and 4 1 4 1 10 0 157 2014 1414 34 -1 5 1 4 1 10 1 157 2018 36 25 94.955421 17 5 1 4 1 10 2 216 2017 39 25 96.322853 of 5 1 4 1 10 3 279 2018 52 24 93.300888 the 5 1 4 1 10 4 354 2018 79 30 93.054413 opén 5 1 4 1 10 5 454 2018 59 24 95.631310 end 5 1 4 1 10 6 535 2015 198 32 95.986420 ordinance, 5 1 4 1 10 7 754 2020 57 21 96.589142 are 5 1 4 1 10 8 832 2016 120 29 96.752640 hereby 5 1 4 1 10 9 972 2016 139 30 96.695938 adopted 5 1 4 1 10 10 1132 2015 38 29 95.661667 by 5 1 4 1 10 11 1191 2014 178 25 33.340767 reference 5 1 4 1 10 12 1392 2020 36 18 96.197517 as 5 1 4 1 10 13 1451 2021 20 17 95.134041 a 5 1 4 1 10 14 1489 2016 82 28 95.134041 part 4 1 4 1 11 0 156 2047 1348 32 -1 5 1 4 1 11 1 156 2052 37 25 96.154465 of 5 1 4 1 11 2 214 2050 77 27 96.392242 this 5 1 4 1 11 3 315 2050 177 26 96.675339 ordinance 5 1 4 1 11 4 514 2054 38 22 96.861237 to 5 1 4 1 11 5 575 2052 57 24 96.697266 the 5 1 4 1 11 6 654 2047 178 28 94.883774 extent 5 1 4 1 11 7 796 2043 39 42 94.883774 to 5 1 4 1 11 8 852 2048 99 28 96.377243 which 5 1 4 1 11 9 973 2050 77 29 96.501396 they 5 1 4 1 11 10 1072 2056 57 18 96.501396 are 5 1 4 1 11 11 1149 2047 122 27 96.782211 herein 5 1 4 1 11 12 1291 2047 213 32 75.879677 applicable. Page 9 “ Section 15, Priority of the Pledged Tax Revenues; The pledge herein made of the gross receipts tax 18 for the benefit of all of the authorized securities, pro rata and without preference of one over another or any other securities of the city at any time entitled to share in the proceeds of the gross receipts tax on a parity of lien with the authorized securi= ties. While no default exists in the payment of the principal of on interest on the authorized securities or on any other securities of the city at any time’ entitled to share in the proceeds thereof on a parity with the authorized securities, any part of ‘the gross. receipts tax which may not bé needed to pay at their respéetive’ maturities tha principal of and interest on the authorized securities and all other securities at any time outstanding entitled to share in the gross receipts tax on a parity with the authorized securities may be used by the city for any lawful purpose, e Section 16. Form of the Refunding Bonds. The pefunding bonds and the coupons applicable thereto shall be in substantially the following forms with. appropriate insertions and variations therein to conform to the provisions hereof: . (Form of Refuriding Bond) D emeamerneena tl UNITED STATES OF AMERICA STATE OF ALABAMA CITY OF PRICHARD - GENERAL OBLIGATION: SECURED REFUNDING BOND SERIES 1962 Qn the lst day of August, 19 _.» for value received, the City of Prichard, a minicipal corporation”in the State of Alabama, promises to pay to the bearer hereof, upon surrender hereof on or after the maturity hereof, the principal sum of ONE THOUSAND DOLLARS . with interest thereon at the rate of % ‘per annum, payable semi- annually on February 1 and ‘August 1 in each year until and at. the maturity hereof upon surrender ‘of the appropriate annexed ‘coupons. as the same respectively mature, This bond and the interest coupons applicable Hereto shall bear interest at the rate of 6% pet annum after the maturity hereof and shall be payable in lawful money of the United States of America at The Merchants National Bank of Mobile, in the City of Mobile in the State of Alabama. : This bond is one of an authorized issue of bonds aggregating $183,000 in principal amount consisting of bonds numbered from 1 to. 183, inclusive; and has been issued pursuant to the provisions of Chapter 6 of Title 37 of the Code of: Alabama of 1940, as amended, and an ordinancaé of the eity for the purpose of refunding outstanding, general obligation bonds. of the city in like principal amount. Page 10 The indebtedness evidenoed by this:bond is*a general obligation of the city for the payment of the principal of and interest on which the full faith and eredit of the city have been irrevocably pledged. In and by the ordinance under which the said bonds are authorized to be issued, the city has further pledged for the benefit of the said bonds the special privilege and license tax of the city levied by . Ordinance No. 880 of the city (together with the proceeds therefrom} to the extent that the said tax is levied with respect to businesse’ conducted within the corporate limits of the city, which pledge is on a parity with pledges of said tax and the proceeds thereof for the benefit of certain other bonds and warrants, of the city. In said proceedings the city reserved the privilege of issuing additional securities and, upon the existence of certain events, of pledging for the benefit of thereof the said special tax, to the extent ; aforesaid, on a parity with the aforesaid pledge for. the benefit of ‘the said bonds and warrants, Those of the said bonds maturing in 1973 and thereafter may at the option of the city be redeemed and paid prior to their respective maturities, under the conditions provided in the proceedings under which they were issued, as a whole or in part and if in part then in inverse numerical order of those at the time outstanding, on any interest payment date on or after August 1, 1972, after prior notice of such redemption shall have been, given at least one time, not less than thirty days before the date fixed for redemption, by publication in a newspaper published in Birmingham, Alabama, at a: redemption price for each bond redeemed equal to its face value plus accrued interest thereon to the date" fixed for redemption and a premium equal to twelve months' interest thereon.. It is heréby certified and recited that all conditions, actions and things required by the constitution or laws of Alabama to exist, be performed or happen precedent to or in the issuance of this bond and the creation of the indebtedness evidenced hereby do exist, have been performed, and have happened, and that the ‘indebtedness e¥idenced by this bond, together with all other indebtedness of the city, was when incurred and now is within every debt and other limit prescribed by the constitution and laws of Alabama. IN WITNESS WHEREOF, the city has caused this bond to be executed in its behalf by its mayor, who has hereunto manually subscribed his signature, and by a facsimile of the signature of the city clerk imprinted hereon, has caused a facsimile of the seal of the city to be imprinted hereon, has provided that said facsimile of the signature of the city clerk shall constitute attestation of such seal and execution, has caused the annexed interest colpons to be executed with facsimiles of the signatures of the said mayor and eity clerk, and has. catised this bond to be dated August 1, 1962. . CITY OF PRICHARD . BY 2. . _ . yon By. _. _ , tte City Cleric U + Page 11 (Forni of Coupon) Coupon No, ee . . Om the Ist day of eo? 29 y the City of Prichard in the State of Alabama will”pay to the bearer hereof, at The Merchants National Bank of Mobile, in the City of Mobile in the State of Alabama a . _. 7 ee uv. Dollars in lawful money i ; or Amepica, being six months!’ interest that will become «ue on said date on the General Obligation Secured Refunding Bond, Sdries 1962, of the said City of Prichard dated August 1, 1962, numbered __* CITY OF PRICHARD By. __. oe es . ane Cs-12 | 07.7 Sa By There shall be inserted in each of the befunding bonds having stated maturities in 1973 and thereafter, immediately following the maturity date thereof, the following: (unless 5 1 12 1 1 2 490 988 75 26 95.899643 this 5 1 12 1 1 3 588 991 80 25 96.042252 bond 5 1 12 1 1 4 688 992 97 25 94.275986 shall 5 1 12 1 1 5 806 994 78 30 96.440926 have 5 1 12 1 1 6 906 994 80 25 96.419067 been 5 1 12 1 1 7 1006 995 78 30 96.379257 duly 5 1 12 1 1 8 1106 996 118 28 94.832886 called 5 1 12 1 1 9 1246 997 58 26 94.832886 for 5 1 12 1 1 10 1324 997 99 35 96.405708 prior 5 1 12 1 1 11 1444 1000 196 31 27.964417 payment) 5 1 12 1 1 12 1607 990 35 46 27.964417 , There shall be inserted in each coupon due on February 1, 1973, or thereafter, immediately following the maturity date thereof, the following: (unlegs 5 1 14 1 1 2 486 1193 58 24 96.915649 the 5 1 14 1 1 3 565 1193 79 25 96.353004 bond 5 1 14 1 1 4 665 1196 39 23 93.617050 te 5 1 14 1 1 5 723 1194 100 25 96.248047 which 5 1 14 1 1 6 844 1195 77 25 96.675377 this 5 1 14 1 1 7 944 1204 118 24 78.041016 coupon 5 1 14 1 1 8 1084 1197 37 26 95.177841 is 5 1 14 1 1 9 1143 1198 197 31 96.311081 applicable 5 1 14 1 1 10 1361 1201 98 26 89.113380 shall 4 1 14 1 2 0 345 1224 835 38 -1 5 1 14 1 2 1 345 1224 79 27 36.984310 have 5 1 14 1 2 2 445 1225 79 25 96.374374 been 5 1 14 1 2 3 544 1228 79 28 95.511688 duly 5 1 14 1 2 4 645 1229 118 23 96.311699 called 5 1 14 1 2 5 784 1230 59 25 96.556458 for 5 1 14 1 2 6 863 1229 100 30 93.294983 prior 5 1 14 1 2 7 983 1231 197 31 84.300858 payment), Section 17. Form of the Warrants. The warrants and the coupons applicable thereto and the provisions for the assignment thereof shall in substantially the following forms, with appropriate insertions and variations therein to conform to the provisions hereof: | (Form of Warrant) No« $1,000 ° sets UNITED STATES OF ANERICA STATE OF ALABAMA CITY OF PRICHARD GENERAL OBLIGATION SECURED WARRANT * SERIES 1962 The City Treasurer of the City of Prichard (herein called the 4 1 21 1 2 0 159 1960 1312 44 -1 5 1 21 1 2 1 159 1960 136 32 38.048550 eltyy, a municipal corporation in the State of Alabama, is hereby. ordered and directed to pay to H. C. Hendrix, or assigns, the principal sum of ; ONE THOUSAND DOLLARS ‘ Page 12 4 s Foote . 3 s On the lst day of August, 19 {unless this warrant shall have been duly called for prior payment}, upon surrender hereof on or after said date, with interest thereon from the date hereof until the maturity hereof at the rate of _.> per annum, payable semiannually on February 1 and August 1 of Gach year tipon surrender of the appropriate interest coupons hereto attached as the same respectively become due. This warrant and the interest coupons applicable hereto shall bear interest at the vate of 6% per annum after their respective maturities and shall be payable in lawful money of the United States of America at the principal office of The Herchants National Bank of Mobile, in the City of Mobile in the State of Alabama. This warrant is one of an issue of warrants (herein called | “the warrants") in the authorized principal amount of $117,000 consisting of warrants numbered froin 1 to 117, inclusive, and has been issued pursuant to the applicable provisions to the constitution and laws of Alabama, including particularly Section 466 of Title 37 of the Code of Alabama of 1840, for the purpose of raising funds for purposes for which the City may lawfully expend moneys from its general fund, The warrants are subject to redemption and payment prior to maturity, at the option of the city, on any interest payment date on or after August 1, 1972, as a whole or in part and if in part then in inverse numerical order of thosé at the time outstanding, after prior notice of redemption given by publication one time in a newspaper published in Birmingham, Alabama, at least thirty days before the date. fixed for redemption, at a redemption price for each warrant redeemed equal to its face value-plus accrued interest thereon to the date fixed for redemption and a premiimaéqual to twelve months' interest thereon, . By the execution of this warrant the city acknowledges that it is indebted to the payee hereof in the principal amount hereof and that at the vespective meturities of the interest coupons attached hereto it will bécome Indebted ‘to the holders thereof in accordance with the terms thereof. The indebtedness evidenced and ordered paid by this warrant is a general obligation of the city for the payment of the principal of and interest on which the full faith and credit of the city have been irrevocably pledged. In addition thereto, in the proceedings under which the warrants were issued there was irrevocably pledged for payment of said principal and interest at their respective maturities so much as may be necessary for said purpose of the special privilege and license tax of the city levied by Ordinance No. 880 of the city, together with the proceeds therefrom, to the extent that the said tax is levied with respect to businesses conducted within the corporate limits of the city, which pledge is on a parity with pledges of said tax and the proceeds thereof for the benefit of certain other bonds and warrants of the city. in said proceedings the city reserved the privilege of issuing additional securities and, upon the existence of certain events, to the extent aforesaid, on a parity with the aforesaid pledge thereof for the said warrants and bonds. It is hereby certified and recited that the indebtedness evidenced and ordered paid by this warrant is lawfully due without condition, abate- ment on offset of any description; that this warrant has been registered in the manner provided by law; that all conditions, actions and things required by the constitution and laws of the State of Alabama to exist, be performed or happen precedent ta and in the issuance of this warrant do Page 13 Voaere ‘ . ~ 4 ~ e < é6xist, have been performed, and have happened; and that the indebtedness ” evidenced and ordered paid by this.warrant, together with all other in- debtedness of the city, was at the time the Same was created and is now within every debt and other limit prescribed by the constitution and laws of the State of Alabama. This warrant is nonnegotiable but is transferable by assignment, Each taker, owner, purchaser or holder hereof, by receiving or accepting this warrant or any interest coupon applicable hereto shall consent and agree and shall be estopped to deny: (1) that title to the coupons here- unto appertaining may be transferred by delivery without the necessity of a written assignment, and any person making such delivery shalt -be deemed to. have. transferred to the person to whom such delivery is made all of his equities or rights in the coupons so delivered; (2) that any. Person in possession of any such coupon, negardless of the manner in which he shall have ' acquired Possession, is authorized to. represent hinself as the absolute owner htereof and has the bower and authority to transfer absolute title thereto by delivery ‘thereof to a bona fide purchaser for value (present on antecedent) without notice of prior defenses or the said execution and seal to be attested by a faesimile of the signature of tis city clerk imprinted hereunder, has caused the annexed coupons to be executed and attested with facsimiles of the signatures. of said officials, and has caused this warrant to be dated August 1, 1962, CITY OF PRICHARD By Attest: FC {Form of Coupon) 1 Coupon ; No. S$ . * On the Ist day of ; _. 3 ifs the City Treasurer of the City of Prichard, in the State of Alabama, is ordered and directed to pay to the bearer hereof the sum of | . . a Doliars upon ‘surrender i ; + a4 Page 14 x purchase price equal to § 300,000.00 plus. accrued interest theréon to the dat#.of delivery thereof, is hereby ascertained to be the bid’ received for the purchase of the authorizéd securities which reflects + the lowest average net interest cost to the clty for the authorized securitiés computed from their date to their réspective maturities and to be the best bid received therefor. The said bid is hereby accepted and the authorized securities are heraby sold to the said bidders. The warrants shall be issyad in the name of H. C. Hendrix «, the nominee of the purchasers designated by them for that purpose. The city treasurer is hereby authorized dnd directed to deliver the authorized securities to the said purchasers upon payment to the city of the said purchase price. The proceeds from thé sale of the authorized securities -Shall be applied as follows: ‘That part of the proceeds which represents accrued interest on the authorizéd sécurities from theip date to the date of payment therefor!, together with any ipremium in excess of the face amount thereof included in ‘the said purchase price, shall be deposited into tle special fund in accordance with, the irequirenients” of Section 14a) of the. open end ordinance, and shall be applied for payment of the interest’ which will accnue on the authorized securities on the next interest pdyment date. The principal ‘proceeds shall be used for the purposes for which the authorized securities ‘are respectively authorized to be issued. Adopted this 24th day of July, 1962. President of the City Counell Authenticated: City Cler Approved this 24th day of July, 1962. 7 Hayor = Councilman Lassiter moved that the rules be suspended and that tunanimous consent be given for immediate consideration of and action on said Ordinance, which motion was secénded ‘by, Councilman Moplygt, ‘and upon the motion being put to vétethe following vote was bpecorded: Yeas: Councilmen Dismukes, Lassiter, Movlyet, Phillips, Nays: ‘None. The president of the council thereupon declared that‘ the motion for unanimous consent for the immediate consideration of and action on said ‘ordinance had beén unanimously carried. Councilman Lassiter therenpor moyed that thé said ordinance be finally adopted, which motidn was, séconded by Councilman Moniyet jand upon the motion being put to ‘vote the following vote was recorded: | Yeas: Councilmen Dismukes, Lassiter, Moulyet, Phillips’, Nays: ‘None, The president of the council thereupon announced that’ the motion for adoption 6f'said ordinance had been unanimousiy earried3 and the ordinance was then transmitted to the mayor who signed the same in approval theredf, see