Laserfiche WebLink
In <br />YEAR <br />PRINCIPAL <br />Jan. 1 of <br />each year <br />Jan. 1 <br />of <br />INTEREST <br />and July 1 <br />each year <br />TOTAL <br />1952 <br />$ <br />$ <br />$599.38 <br />$ 599.38 <br />1953 <br />599.37 <br />599.38 <br />1198.75 <br />1954 <br />599.37 <br />599.38 <br />1198.75 <br />1955 <br />5000.00 <br />599.37 <br />555.63 <br />6155.00 <br />1956 <br />5000.00 <br />555.62 <br />511.88 <br />6067.50 <br />1957 <br />4500.00 <br />511.87 <br />472.50 <br />5484.37 <br />1958 <br />4500.00 <br />472.50 <br />433.13 <br />5405.63 <br />1959 <br />4500.00 <br />433.12 <br />393.75 <br />5326.87 <br />1960 <br />4500.00 <br />393.75 <br />354.38 <br />5248.13 <br />1961 <br />4500.00 <br />354.37 <br />315.00 <br />5169.37 <br />1962 <br />4000.00 <br />315.00 <br />280.00 <br />4595.00 <br />1963 <br />4000.00 <br />280.00 <br />245.00 <br />4525.00 <br />1964 <br />4000.00 <br />245.00 <br />210.00 <br />4455.00 <br />1965 <br />4000.00 <br />210.00 <br />175.00 <br />4385.00 <br />1966 <br />4000.00 <br />175.00 <br />140.00 <br />4315.00 <br />1967 <br />3500.00 <br />140.00 <br />109.38 <br />3749.38 <br />1968 <br />3500.00 <br />109.37 <br />78.75 <br />3688.12 <br />1969 <br />3000.00 <br />78.75 <br />52.50 <br />3131.25 <br />1970 <br />3000.00 <br />52.50 <br />26.25 <br />26.25 <br />----- <br />3078.75 <br />3026.25 <br />1971 <br />3000.00 <br />SECTION 7. The Treasurer of the City of Batesville is hereby <br />ordered and directed to remit to the paying agent, not later than <br />five days before the date of each interest payment, the amount of <br />interest or interest and principal due on said date, together with <br />the paying charges, which shall be 1/8 of 1% on principal and 1/4 of <br />1% on interest, with the provision that the minimum paying charge <br />shall be one dollar. This instruction to the Treasurer is irrevocable <br />and may be enforced by mandamus. <br />SECTION 8. The City agrees to deposit the proceeds of the <br />sale as follows: The accrued interest shall be paid into the Bond <br />and Interest Fund, as hereinabove defined, and the balance received <br />from the sale of the bonds shall be deposited in a separate fund to <br />be known as the "Construction Fund," to be used solely for the payment <br />of the cost of construction plus the expenses of the bond issue, <br />except that the City agrees to set aside sufficient funds from the <br />Construction Fund to meet interest requirements until tax revenues <br />become available, but as soon as possible this money shall be repaid <br />to the Construction Fund. <br />The City agrees to require from the depository bank in which <br />the Construction Fund is placed, security for all of the deposit <br />over the $10,000 insured by the Federal Deposit Insurance Corporation, <br />and such security shall be either in the form of a corporate surety <br />bond or in <br />the <br />form of government bonds <br />escrowed with some other <br />bank, with <br />the <br />right in the depository <br />to withdraw bonds from the <br />