Ordinance 1972-403 - Laserfiche WebLink

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the ultimate payment and redempLion of said bonds, there shall be levied upon all of the taxable property in the City, .l.n ad- diti; tc all other taxes, direct annual taxes in each or the years l.n.3 0 1962 f .l.i:.~lusive, suffic.l.ent to make such reimbu:.:sement and ?aY ~~e interest on and principal of the bonds as the same become ~ue and payable, respectively. Said taxes, when collected, shall be deposited in a 3p;.~cl.al fund to be known as "City of Louisville, G..:neral Obligation ~,~e~t10n Bond Fund", and the proceeds derived from sa1d taxes f... :u.... be applied only to the payment of the interest and principal. _.a Bonds authorized herein, and for no other purpose whdtsoeve.i: . ~.~.. tne indebtedness so contracted pursuant to this Ordinance, _.,....tr.?r_,'lcipal and interest, shall have been fully paic, sat1sfied ... ~...~s,.).arged. Nothing herein contained shall be so construed ~~ ::.'- prevent the City from applying any other funds or revenued _ 1.1.": 'lae in the City treasury and available for that to'urpose, ,:...~d 'the payment of sa.id interest and principal, as trle same ok ~t \fely accrue or mature, and upon such payment, tht levy or ...,.,:;:V..c;;3 ",rt;.1n provided may thereupon to that extent OE. d.:...min.l.she{ . An amount nece!ssary to pay all costs and .::!xper.:.;es in- ca~ to the issuance! of said bonds and the amount:::. :.erel. ,,- a provided to pay the interest on said Bonds, an~ ~o d1dcharge j\;.' rL.c_; ~i 1:hereof when due, are hereby appropriated for l.hdt. p.:..r. 3E and said amount: for each year shall also be ir..: uded in ln~__ budget and appropriation Ordinance and bil~3 .0 De :...o?_ed and passed by the City Council of the City in each ~al, res~~ct Jely, ~ntil said Bonds have been fully paid, sat1sfiea a..1Q ibcuo.rgea. It :::...all be the duty of the City Council of .,\ l... t.: , .:::.l',.i I at t:.he time and in the manner provided by law ! or tht" nc, .)1 ot:.ner City taxes, 1r SL4C~, a'ction shall be ..... :ess.;;.: '! ~ f~ _al.~ che provisions ~f tnis Oldinance, to rat y an - 35 -