Ordinance 1979-668 - Laserfiche WebLink

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-- -..-- .. r.l'~:~~~ Ci tt,/ :::L,:::11 Tl:::J t. 11.2 \T,~ t~le . " t.r) I) ..C c: ~) a :l i n. t...r h '~.-j 1 (~ _:: ..!... (-:n t~ (J y- lT1 ~'d.?~ t ' , unpaid ins td 11n:.::-n ,::s I) 1:- i 1'1 C ~~. ~~) r~:ll , L~.r 1 E.:; () I~ ,:J. rl (~ ln tc;x:-c~;,~ t on the ~'. ~ t(~ prlo::- to DeCeTnb(~r '1 19:35. On th.', des ignd t.ed due -'- , ...L......._ dates D2CerrtbE~r 1, 1985 through Decernb;;:::L I, 1989, inc 1 us:i. .,/12, the City shall 11d \;-e t.~12 righ t to prepay the entire uclpaid balance of outstanding principal, and accrued interest, plus a one percent pre~iu~ on the balance, of outstanding principal on the da te or payment. Thereafter, the City shall have the riSh t to prepay the entire unpaid balance of outstanding principal, and accrued in.terest, without prepayment premium. Section 3. Tha t, for the purpose of payment of the designated installments of inter;::~st on and principal of said Note, there shall , established by t.he City the "City of De Louisville, City Hall Ilnpro\,rernen t Fund 11 c1 11 Ci such fund shall be applied solely to t.he purpo s e or the paYI:',eTl t of the interest on and the principal of sa.id t,To'ce an.j for no other purpose whatsoever unt.il the principal at and in teres t~ (111 . ~ ;0.-( - !... has been fully paid, sa t2.sfied, and discharged. salCl L"~) ,-e Section 4. That, for the purpose of funding the des- ignated annual installments of interest on and principal of said Note, the City Council may, in "-}-. discretion, appropriate 1 L_S annual sums to be deposited into the City of Louisville, City Hall Improvement Fundi specifically, the City Council may, in its discretion, appropria~e all or part of the proceeds of the City's 2 1'1 i 11 Ad Valorem Capitol Improvement 'Tax for deposit into said Fund. Section 5. Tha t. , for the purpose of securlng thE:~ annual repaYh1ent of interest on c~nd principal of ~3a.ict Note, the City pledgl:::s for deposit into the City of Louisville City Hall Improvement: Fund as Elue]} of .the proceeds of the ci ty 2 percent Sales rlla:( as are necessary, together \Vi th such annual s UIT5 as clre approp:-c ia ted by the City Council 1n its discretion for despoit into saicl Fund, to equdl the designated annual in~; ti.tllIClen ts of interest on and principal of sd;.d Note; OLdinance No. 479, es tabli~;hing and enaCLLI1CT -- 2- -