Resolution 1992-37 - Laserfiche WebLink

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Section 4. The questions of incurring bonded indebtedness shall be submitted to the qualified registered electors of the City in substantially the form set forth in this section. A punch card electronic voting system or, if such system is not available on the date of the election, paper ballots shall be used at the election for voting and for counting votes cast on the question, and for absentee voting. The ballots used for the election shall state the questions in substantially the following form: (Form of Ballot) CITY GOLF COURSE ACOUlSmON GENERAL OBLIGATION BOND OUESTION Question No.1 Shall the City of Louisville be authorized to issue its general obligation bonds, in one series or more, in the aggregate principal amount of $5,830,000, or so much thereof as may be necessary, to exercise the City's purchase option under existing lease purchase agreements to which the City is a party, for the purpose of acquiring, equipping and improving a public golf course currently known as the Coal Creek Golf Course, in the City, together with all necessary equipment, improvements, land and easements for the foregoing, such bonds to bear interest at a maximum net effective rate not to exceed eight per centum (8%), and maturing not later than twenty (20) years from their date or respective dates, such bonds to be payable from general ad valorem taxes without limitation of rate or amount except to the extent other legally available funds are applied therefore, to be issued and sold at one time or from time to time in such manner and amounts, with such maturities and upon such terms and conditions as the Council may determine, including at the option of the Council, provision for the redemption of bonds prior to maturity without or with the payment of a premium? FOR THE BONDS: AGAINST THE BONDS: - 5 -