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<br /> ta~: i~p~~;~d therein, bv m~ioritv vote of City Council and
<br /> _C ..J.~ -
<br /> '1'.'; i tl~o uc. s 1.1;~)'~T~ i S~; -La !'t of ~:i lJ.C l1 {J.:;"lC~~ {l.:J.I~.::,'"n t J (11 -i:_ e r ;~:l t-_ _i._ .~) :--.~ 1 (J "C c: 1"L .~~t = 1 ';J ~~
<br /> to t~e qu~lified eleCtors of th2 City for 2..[_'t)roT/l=tl; ar1cl
<br /> HHEP-EAS, the City Council deems it necessary and advis-
<br /> able that certain Sales Tax receipts be pledged for the pur-
<br /> pose of assurina the payment or the int~erest on and principal
<br /> ~ ~
<br /> of said Note.
<br /> BE IT ORDAINED BY THE CITY COD:\JCIL OF THE CITY OF
<br /> LOUISVILLE, COLOR.'\DO:
<br /> Section 1. That the Contract described in the third
<br /> recital of this Ordinance is hereby, in all respects, ratified
<br /> and confirmed.
<br /> Section 2. That for the purpose of providing sufficient
<br /> funds for the renovation, improveElent, and enlargement of the
<br /> City Hall, the City shall issue its Special Obligation Note
<br /> in the principal amoun-t of $939,375.00 payable to the
<br /> registered O'..mer on the books or the City as maintained by
<br /> the City Treasurer, as registrar, upon receiving such reasonable
<br /> proof as the registrar may require and thereafter said Note
<br /> shall be payable to the last registered owner appearing on
<br /> the registration panel attached thereto.
<br /> The Note shall be dated as or the date of delivery
<br /> thereof (closing date), shall bear interest at the rate of
<br /> 8.00 per cent per ann~~, and shall be payable as follows:
<br /> PAYHENT PAYNEN'I~ INTEREST PRINCIPAL RE[.lAINING
<br /> DATE At"IO UNT PAID PAID PRINCIPAL
<br /> -- - -
<br /> 12/1/80 $ 75,150.00 $75,150.00 $ --------- $939,375.00
<br /> 12/1/81 79,618.00 75,150~00 4,468.00 934,907.00
<br /> 12/1/82 79,757.00 74.,792.56 4,964.44 929,942.56
<br /> 12/1/83 79,757.00 74,395.40 5,361.70 924,580.96
<br /> 12/1/84 129,511.92 73,966.48 55,545.44 869,035.52
<br /> 12/1/85 129,511.92 69,522.84 59,989.08 809,046.44
<br /> 12/1/86 129,511.92 64,723.72 64,788.20 744,258.24
<br /> 12/1/87 129,511.92 59,540.66 69,971.26 674,286.98
<br /> 12/1/88 129,511.92 53,942.96 75,568.96 598,718.02
<br /> 12/1/89 129,511.92 47,897.44 81,614.48 517,103.54
<br /> 12/1/90 129,511.92 41,368.28 88,143.64 428,959.90
<br /> 12/1/91 129,511.~=J2 34,316.79 95,195.13 333,76,1.77
<br /> 12/1/92 129,511.92 26,701.18 102,810.74 230,954.03
<br /> 12/1/93 129,511.92 18,476.32 111,035.60 119,918.43
<br /> 12/1/94 129,511. 90 _9,59]..47 _}19,91?43 ---
<br /> $1,738,913.10 $799,538.10 $939,375.00
<br /> -2--
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