Ordinances-1975-68

ORDINANCE NO. 68 AN ORDINANCE authorizing the issuance of $31,000 Sewer Bonds and providing for the levy of taxes to pay the same. * * * * * WHEREAS the Town of Tiffin (also known as the City of Tiffin), in the County of Johnson and State of Iowa, heretofore, pursuant to and in strict compliance with all laws applicable, lawfully ordered and provided for building and constructing a sewer outlet and purifying plant in and for the Town, the cost whereof to the amount of Thirty-one Thousand Dollars ($31,000), is to be paid by said Town as a whole by the issuance of bonds; and WHEREAS it is necessary and advisable that provisions be made for the issuance of such bonds at this time and notice and hearing on the initiation of proceedings for such issuance has heretofore been given in manner and form required by Chapters 23 and 408A of the Code of Iowa, and no petition nor protest has been filed, and no petition has been filed requesting that the proposition of issuing said bonds be submitted to the voters of said Town; NOW, THEREFORE, Be It Ordained by the Town Council of the Town of Tiffin (also known as the City of Tiffin), Iowa, as follows: Section 1. That pursuant to and as authorized by Section 396.22 of the Code of Iowa, 1973, as amended, there shall be and there is hereby ordered issued the negotiable Sewer Bonds of said Town of Tiffin, in the principal amount of $31,000, said bonds to be 31 in number, be numbered consecutively from 1 to 31, both numbers included, of the denomination of $1000 each, and to be dated December 1, 1974. That the bonds of said issue shall bear interest from the date thereof at the rates hereinafter specified, such interest being payable June 1, 1975, and semiannually thereafter