Laserfiche WebLink
Page 2 <br />and provisions thereof; and <br />0 <br />WHEREAS the County has determined that it would be in <br />the best interests of the County and the citizens and inhabitants <br />thereof, including those residing in the City, for the County to <br />refund as of March 1, 1963 all outstanding bonds of the General <br />Obligation Industrial Development Bond Issue of the County dated <br />March 12 1960 in that refunding bonds can be issued bearing lower <br />rates of interest than the outstanding March 1, 1960 bonds of the <br />County, and upon terms whereby the contract with the holders of <br />the refunding bonds will permit the release of not to exceed <br />72/100 of a mill of the special five mill tax being levied and <br />collected for the payment of the County's bonds in the event the <br />County issues additional bonds under Amendment No. 49 for the <br />purpose of securing and developing additional industry within the <br />County, which will inure to the benefit of the City and its <br />citizens and inhabitants; and <br />WHEREAS the terms and provisions of the proposed re- <br />funding by the County are embodied in an order of the County <br />Court entitled "Order Authorizing Issuance, Execution and Delivery <br />of General Obligation Industrial Development refunding Bonds and <br />Matters Relating Thereto" (herein referred to as the iPRefunding <br />Order"), which is to be entered by the County Court on the 27th <br />day of February, 1963 and which on and after that date will be on <br />file in the office of the County Clerk, and a copy of said Order <br />has been presented to and examined by the City Council of the <br />City at the meeting at which this Agreement is approved and the <br />execution thereof authorized; and <br />WHEREAS it is proposed that the City approve the proposed <br />