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HomeMy WebLinkAbout1973 44_Special Election Issuance of Bonds_1973.04.09WEREAS the City of Owasso l3th day of March, 1973 on bonds of said city for the 'RESOLUTION NO. State of Oklahoma, held a special election on th the question of authorizing the issuance of the following amounts and purposes: $2000000; extending and improving the park system; and S2503000; constructing and equipping a municipal building; and S 65,000; constructing a fire station and purchasing fire equipment; and WHEREAS at the same election. an increase in the city sales tax of 13 was also voted upon and the City Council had heretofore obligated said city to pay all principal and interest requirements on the $2003000 Park System Bonds from the proceeds of said sales tax if both proposals carried; and WEEREAS all of the proposals set out herein carried by substantial margins, Now, Therefore BE 1T RESOLVED BY THE COUNCIL OF TEE CWT C-F CWASSO, STATE OF OKT,AHUMA-, SEC �1 TOM zne city- zreasurer of said city be and he is hereby authorized and in- structed to set aside monthly from the proceeds of the city sales tax suffi- cient funds to provide for the payment of the principal and interest on said $2003000 park improvement bonds when and as the same comes due, such transfers from the sales tax receipts to begin on the month in. 1which the bonds are dated and begin to bear interest, SECTION 2,� THAT the thxee bond authorizations set out herein aggregating $535,000 maY bc consolidated into one issue when sold and in such an event will appear on the annual estimate of said city as a single issue in the amount of 00, case 37.3832% of the annual principal and interest re- quiraments thereon shall be paid into the sinking fund as set out in Section 1 hereof. it was moved by Councilman FEEL seconded by Councilman WOE that the above 'b- .?roved. The Mayor called the roll a with the following result: AYES g DUNCAN LARGE PEEL ROSS: NAY S , %IONE The Mayor declared the motion carried and the resolution duly passed and (seal) Attest: city Cler"k Deputy City Clark yor, 1973