HomeMy WebLinkAbout1970 25_Sinking Fund_1970.09.213S .
THE BOARD OF TRU5T1tiS OF THE TOWd OF OWAS: ;O, STATZ OF OKLA: 01SA, net in regular
session at the Town Hall in said town on the 21st day. of September, 1970 at
7:00 o'clock P. K.
,y,SENT: JOITq R. Gfton.. Preoidcnt, Board of Trustees
JOB ROSS, Trustee
W. C. BENSON, Trustee
INEZ H. ODOM, Town Clerk
ABSENT: GARY D. EVANS and HOWARD E. STAMPER, Trustees
Among other proceedings, the following were had:
Trustee BENSON introduced a resolution which was read in full by the
clerk and upon - otior. by Trustee BENSON seconded by '1Yrustee ROSS
which resolution was adopted by the following? vote:
AyEs: E*4tiiS HENSON ROSS GROTH
NAYS: N 0 N E
and is as follows:
URERZASI the Town of Owasso, Oklahoma has heretofore issued and sold $120,000.00
of Storm Sewer Bonds and $20,000.00 of Sidewalk Bonds, bath issues dated November
1 1970; and
IHEREAS, pursuant to an election duly held concurrently with the election at
which the above bonds were authorized, payment of principal and interest on
he above bonds was to be-paid from the present sales tax receipts; and
WHEREAS, for the 12 months ending September 10 1970, the receipts from said
sales tax has totaled *36,032.55, an average of '3,002.71 per month which is
more than sufficient to past both principal and interest on the above bonds,
VOW, TH:;RI ORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOi1N OF OWASSO,
STATE OF OKIAEUNA:
RESOLUTION NO. 25
SECTION 1.
THAT the Town Ereasurer of said town, be and he is hereby authorized and directed
to set over into the sinking-fund of said town from ti;e first sales tax monies
received each month, the sum of ONE Th''OUSAIND T: ?0 FUNDRED FIFTY AND N0 1100 I
(:1,250.00.) DOLLARS per .,onth, beginning October 10 1970 and continuing to and
includinf, the month of October 10 1972.
SECTION 2.
THAT be ^innin November 10 1972 and continuing each month thereafter until all
of said bonds including; the interest thereon shall have been paid in full, said
treasurer is hereby authorized and directed to set over into the sinking fund of said
town monthly from the first sales tax monies received, a sum sufficient to pay
the interest on and principal of said bonds when.and as the same falls due.
d7ITNESS our official hands and the seal of
(SEAL)
Attest:
';own Clerk
Gr 0eb
the 21st day ofj September 1970.
3oard of"2ruste