City Council Agenda and Packet 1979 12 18

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w .-sill F.1 v..ti.oreut Capitol tr,.prov=:et.c T:tA cor C C pos i t said rt_serve Fund. . Section 8. That, for the purpose of securing the des- ignatted annual deposits into said Reserve Fund, the City pledges for such deposit as much of the proceeds of the City's 2 percent Sales Tax as are annually necessary, together with such annual sums es are appropriated by the City Council for deposit into said Reserve Fund, to equal the designated annual deposit into said Reserve Funds Ordinance No. 479, establishing and enacting meld Sales Tex, is hereby amended to effectuate this pledge. Section 9. That, the principal of and interest on said Note shall be payable at the Office of the City Treasurer, iauisville, Colorado. Section 10. That, the Note shall be signed by the mayor of the City, with the seal of the City affixed thereto, attested by the City Clerk, and countersigned by the City Treasurer. Should any Officer whose signature appears on said Note cease to be such Officer before delivery of said Note, such signature shall nevertheless be valid and sufficient for all purposes_ Section 11. That, until all interest on and principal of said Note is fully paid, satisfied, and discharged, the City shall not issue any bonds or obligations having a lien upon the proceeds of the City's 2 percent Sales Tax which is either superior to or on a parity with the pledge of Sales Tax proceeds authorized by this ordinance. Section 12. The Note, the registration, and assignment provisions attached thereto shall be in substantially the following form: -5-