1954-07-30 Special Meeting - Laserfiche WebLink

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23b 1st day of September, A. II., 195., and alike installment to become due and payable on ar before the lst day of each and every succeeding calendar month thereafter, provided, ho~rrever, th at the full amount of said note, together z^rith all i7~teres-~ therecn, shall be paid on or before the 30th da;,r of June, .D., 1955, such note to b e secured by v z~.id Liens on the said Chevrolet truck and garbage body; and ~'~F_~S, the City tyi~.l have current revenue from the collection of said taxes available and sufficient to pay said ogli~ation at maturity; NOa"f, Ti~?F~~ZE, BF IT ~rSOI,`~~ BY TH~~ CITY CO:~L+`1SSIO~J Or THL' CITY OF LA PODTE, TF`~AS t~iat the 2~~ayor and City Clerk (Director o#' Finance) be, and they are hereby, authorized to issue a pror+issory note of the City of I~w Porte, to b e desi~ated "tax anticipation note _f or the fiscal year be- ginning Jaly 1, 195. and ending June 30, 1955", such note to be in the principal sum of Fifty-T1ine Hundred Tti^renty and 90100 Dollars 05920.90), to bear interest at the rate of five per cent (5;o) per annum until maturity, payable in monthly installments in the sum of not less than Three Hundred Dollaxs (.~~300.00) eac.~, ineludi ng interest, the first of such i nstallrnents to become due and payable on or before the 1st day of Septer.:ber, A.D., 195., and a like installment to become due arx? payable on or before tre lst day of each and every sueceedi.ng calendar month therea~_ ter, provided that the full principal of said note and all i merest due thereon shall. be paid on or befar'e the 30th day of June, A. II. 1955, that said note contain the usual provisions for interest at the rate of six per cent, (6~) pcr annum on past due principal and interest, maturity accelerating clauses and ten per cent (1~5) attorneyts fees; that such note be secured by valid liens on the said Chevrolet truck and g?rbage body and that said note be sold by the City to