HomeMy WebLinkAboutO-201ORDINANCE NO. 201
AN ORDINANCE FIXING THE RATES OF
INTEREST TO BE BORNE BY $755,000
PRINCIPAL AMOUNT OF FIRST MORTGAGE
GAS REVENUE B0NDS OF THE CITY CF
FAIRHOPE TO BE DATED FEBRUARY 11 1950.
BE IT ORDAINED by the City Council of the City
of Fairhope in the State of Alabama that the $755,000
principal amount of First Mortgage Gas Revenue Bonds of
the city to be dated February 1, 1950 which were author-
ized to be issued under the provisions of an ordinance
adopted by the city council of the city and approved on
January 23, 1950, and which were sold by the city by
resolution adopted by the council on January 25, 1950,
shall bear interest at the following per annun rates:
4,% for those bonds maturing 1953/55, inclusive
3 1/2for those bonds maturing 1956/67, inclusive
3 3/4for those bonds maturing 1968/80, inclusive.
which interest shall be payable semi-annually on
February 1 and August 1; that the said rates of interest
shall be inserted in the said bonds; and that the
denomination of the respective coupons applicable to the
said bonds shall be computed at the said applicable
rate.
Adopted and approved this 25th day of January, 1950.
Ml - MeA� =�/, A E
City Clork
E'XCE�R?T6 FRUN Tib.; w,I2 U`iE. U,e
:� tt GULl�}, .,;L,H.Tt:•G OF T,,.:,-. G111'Y
COUNCIL OF ` J'i CITY OF FhIR-
HUE, ALAR-iMA, HI+,LD ON TiiE
23rd DAY OF JNIXARY, 1950.
The City Council of the City of Fairhope, Ala-
bama met in regular session at the city hall in said
city on January 23, 19501 at o'clock, P. iA.
The meetinZ was called to oruer by the aiaypr and upon
roll call the following wore found to be present: :Mayor
T. J. Klumpp, and the folloting, members of the city
council: ivlessrs. ol.0. Berglin, J. T. Bradford, R. H.
Brown, Edward B. Overton and Ira Id. ateele; and the
following netLbers of the city council were found to be
absent: 22 &M — The mayor presided
at the meetin- anu announced that a quorum was present
and that the meetini was open for the transaction of
business. 4:1arie .,ioore, the city clerk, was n1so p2-esent
at the meeting, and uoteu as clerk thereof. 'ihe minutes
of the preceding meeting were read and approved.
Counoilwan offered the folloiv-
inu ordinrance anu uuoved its adoption:
w
And the proposed ordinance hav:inr be -n read in
full Councilman
moved that unan-
inious consent oe L;ive.i for i,a;ieuiut,3 crinsiaeru-,ion of
aid action on said ordinance, uhi.cli motion was seconded
by Councilman and upon the motion
being put to vote the following vote was recorded; Yeas;
Nays;
The ivayor thereupon declared that the motion for unan-
iAn.ous consent for the immediate consideration of and action
on said ordinance had been unanimously carried. Council-
man thereupon moved that the said
ordinance be finally uaopted, %:,hich motion iross seconded
by Councilman , ana upon the
motioxl be n,; ,gut to vote the followir4; vote arse recorded,
Yeas;
Nuys; .
The ,dayor thereupon dnnouneed that the motion for :Adoption
of said ordinance had been unanimously carried .iuL he there-
upon signed the same in approval tl;ereof.
Councilman
ing ordinance and moved its adoption:
offered the follow-