1954-382r~~~
RES OL•[Tf ION N0. 382
RESOLiJi'ION AiPPHORTZING ISSUANCE OF STREET
EQUIP lNENP CERTIFICATE`S CF INDEBTEDNESS.
BE IT RESOLVED, by the Village Council of the Village of Richfield
i
1,
as follows
1. It is hereby determined to issue and sell certificates of•indebted-
ness -under the provisions of N.S.A., Section l~12.301, for the purpose of
purchasing street equipment.
20 The certificates of indebtedness shall be in the principal amount
of ~v49,000, consisting of ~.9 certificates in the denomination of ~p1,000 each,
numbered 1 to 49 inclusive, bearing date of July 1, 1954, bearing ianterest
payable on January 1, 1955 and semi-annually thereafter on July 1 and January
1 of each year until fully paid.- Such certificates shall bear interest at
the rate of 3~ per annum, which is hereby determined to be a fair and reason-
able- rate of interest to gay on said certificates, and shall maturs• serially
on July 1 in the years and gmounts as follows •
X9,000 in 1955, ~l0,000 in 1~6, ~$lo,ooo in 1957,
X10,000 in 1958, and X10,000 in 1959, all without
option of prior payment.
3. It is hereby determined that the amount of said certificates does
not exceed one percent of the assessed valuation of this Village, .and that
said certificates shall be issued in such manner and on such terns as the
Village Council has herein determined or as the Council sha11 hereafter de-
termine.
Passed by the Council this 7th day of June, 195..
c=%~~ ~
Fred 0. 'tte 1, Mayor
Leroy ra to ,Manager