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Ord86 1928
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Ord86 1928
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Last modified
10/11/2019 3:13:05 PM
Creation date
10/11/2019 3:12:59 PM
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Template:
CC Index
CC Index - Document Type
Ordinance
Date
3/17/1986
Description
1928 MAR 1 '7 1986 AN ORDINANCE ESTABLISHING THE REDWOOD CITY PUBLIC FACILITIES AND INFRASTRUCTURE AUTHORITY, PROVIDING FOR ITS GENERAL AND SPECIAL POWERS, INCLUDING THE POWER TO INCUR INDEBTEDNESS, AND SPECIFYING CERTAIN RIGHTS OF OBLIGEES OF THE AUTHORITY
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<br /> DES:djc 2/28/86 <br />desirable to assure its operation as a public facility or <br />infrastructure. <br /> ARTICLE 4 <br /> REVENUE BONDS <br /> Section 4.01. Bonds. As used in this ordinance, "bonds" <br />means revenue bonds issued pursuant to this Article. <br /> Section 4.02. Power to Borrow and Issue Bonds; Nature of <br />Bonds. The Authority shall have the power to borrow money to <br />provide funds for any project and to issue in its name revenue <br />bonds to evidence the indebtedness created by such borrowing. <br />The bonds of each issue shall constitute special obligations, and <br />evidence a special indebtedness, of the Authority, which shall be <br />a charge upon, and payable, both as to principal and interest and <br />as to any premiums upon the redemption of any thereof, solely <br />from, such revenues and funds as are specified therein and in the <br />proceeds for their issuance and shall not constitute obligations <br />nor evidence any indebtedness of the City. <br /> Section 4.03. Recitals. All such bonds shall recite upon <br />their face, in substance, that the bonds of each issue shall <br />constitute special obligations, and evidence a special <br />indebtedness, of the Authority, which shall be a charge upon, and <br />payable, both as to principal and interest, and as to any <br />premiums upon the redemption of any thereof, solely from, such <br />revenues and funds as are specified therein and in the <br />proceedings for their issuance, and shall not constitute <br /> 10 <br /> -"",." <br />
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