O-55-12125-
/ 6 0 ^ /� `S-S ,
AN ORDINKNCE Providing for the
Issue of $125,000 MUNICIPAL BUILDING BONDS
of the Village of Deerfield, Lake County,
Illinois
WHEREAS the present facilities for housing the general adminis-
tration
offices of the
Village,
as well as the
Police Department,
are
wholly
inadequate for
the proper
and efficient
administration of
the
Village and its affairs, and it is deemed advisable and in the interests
of the public that a municipal building bh constructed to house the
general offices of the Village, as well as the Police Department; and
WHEREAS the President and Board of Trustees of this Village have
4I:
CCU heretofore estimated the cost of constructing a new municipal building
and does hereby estimate that it will cost not less than $125,000; and
WHEREAS funds are not available for the purpose of constructing a
new municipal building, as hereinabove desribed, and it has heretofore
been estimated and is hereby estimated that it will cost not less than
$125.000 to construct a new municipal'building, and for that purpose it
will be necessary to borrow money and in evidgice thereof issue the bonds
of said Village;
NOW, THEREFORE, Be It and It.Is Hereby Ordained by the President
and Board of Trustees of the Village of Deerfield, Lake County, Illinois,
as follows:
Section 1. That there be and there are hereby authorized to be
issued bonds of the Village of Deerfield, Lake County, Illinois, in
the principal mount of $125;000 for the purpose of constructing a new
municipal building in and for said Village to adequately house the
general administration offices and Police Department of said Village;
that said bonds be of the denomination of $1,000 each, dated July 1,
1955, numbered from 1 to 125, inclusive, and mature serially $5,000
on the first day of July of each of the years 1958 to 1968 inclusive,
$6,000 on the first day of July of each of the years 1969 to 1973 in-
clusive, $20,000 on the first day of.July of each of the years 1974 and
1975 inclusive, and bear interest-from date at the rate of not to exceed
126
three and one - fourth percent (3i,) per annum, payable semi - annually.
Section 2. That this ordinance shall not be effective until the
proposition of issuing said bonds has been submitted to the voters of
said Village, as required by statute, and if the proposition to issue
said bonds is approved by a majority of the voters voting at an election
called and held for that purpose, then the President and Board of Trustees
of the Village shall make due provision for the issue, execution and sale
of said bonds, and for the levy of a tax sufficient to pay the principal
of and interest of said bonds, as the same becomes due.
Section 3. That this ordinance shall be in full force and effect,
as provided by law.
PASSED: This 13th day of June, A.D., 1955.
illage President
ATTEST:
Village Clerk
Published in the DEERFIELD REVIEW on the 23rd day of June, 1955.
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