ORDINANCES & RESOLUTIONS 1991 - Laserfiche WebLink

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.' aggregate principal amount not to exceed Eight Hundred Thousand Dollars ($800,000) (the "Bonds"); and WHEREAS, such Bonds are being issued for the purpose of constructing a sewer interceptor, including the total cost of all land, rights-of-way, and all reasonable and necessary architectural, engineering, legal, financing, accounting, advertising, bond discount and supervisory expenses, capitalized interest and expenses the commission may be required or permitted to pay as "Relocation Assistance" under IC 8-23-17, together with the expenses in connection with or on account of the issuance of Bonds therefor; and WHEREAS, Section 9 of the Act provides that money in the Food and Beverage Tax Receipts Fund may be used for the financing of sanitary sewers and drainage or flood control facilities; and WHEREAS, section 9 of the Act provides that the Town Council may pledge money in the Food and Beverage Tax Receipts Fund to pay for obligations incurred by a special taxing district in the Town of Mooresville to provide for sanitary sewers or drainage or flood control facilities; and WHEREAS, the Town Council hereby desires to pledge monies received by the Food and Beverage Tax Receipts Fund after the issuance of the Bonds to the payment of the Bonds. NOW, THEREFORE, BE IT RESOLVED by the Mooresville Town Council as follows: 1. Pursuant to section 9 of the Act, the Council hereby pledges all money received by the Food and Beverage Tax Receipts Fund after the issuance of the Bonds to the extent required -2-