Laserfiche WebLink
DES:dft 6/08/94 (002/12) <br /> <br /> ORIGINA L <br /> <br /> O R D I N A N C E N O. 2079 <br /> <br /> ORDINANCE AUTHORIZING THE ISSUANCE OF BONDS, NOTES, OR <br /> REGISTERED WARRANTS ON /THE TREASURY OF THE CITY OF <br /> REDWOOD CITY IN ANTICIPATION OF THE COLLECTION OF <br /> TAXES FOR FISCAL YEAR JULY 1, 1994 - JUNE 30, 1995 <br /> <br /> THE COUNCIL OF REDWOOD CIT~ DOES ORDAIN AS FOLLOWS: <br /> <br /> SECTION 1. This Council hereby finds and determines that, <br />to meet the requirements of the City of Redwood City to satisfy <br />obligations payable from the General Fund of the City, it is <br />necessary that monies be borrowed by the issuance of temporary <br />notes or other evidences of indebtedness in anticipation of the <br />receipt of taxes, revenue and other monies to be received by the <br />City for deposit in the General Fund during, or allocable to, the <br />fiscal year of the City beginning July 1, 1994 and ending <br />June 30, 1995 (the "Fiscal Year"). <br /> <br /> SECTION 2. Pursuant to the provisions of Section 66 of the <br />Charter of the City of Redwood City, this Council does hereby <br />authorize the issuance of bonds, notes, or registered warrants on <br />the Treasury of the City of Redwood City in an amount not to <br />exceed Five Million Dollars ($5,000,000), which bonds, notes, or <br />warrants shall be issued only during the first four (4) months of <br />the Fiscal Year, and each such bond, note, or warrant shall <br />specify that it is payable solely out of the revenues of said <br />Fiscal Year, and before the close of such year, and which shall <br />otherwise comply with the provisions of said Section 66. <br /> <br /> SECTION 3. The issuance of the bonds, notes, or registered <br />warrants authorized hereby shall be made upon adoption of a <br />resolution by this Council providing for the borrowing of funds <br /> <br /> <br />