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OADINANGE NO'. <br />APd ORDIiVANCE DIRECTING THE U-ITY MANAGER TO REFRATN FRDM TRANSFERRING <br />$11,019.11 FJR THE NDNTHS OF MARCH, APRIi, MAY, AND JUNE, IN THE INTERE5T <br />AND REDEMPTIUN FUND FOR THE PURROSE UF RETIRING REVENUE BC7ND OBLIC,ATIONS IN- <br />CURRED AFTER THE ADOPTIUN OF TI-IF BUDGET R)R THE FISCAL YEAR, AND DIRECTING <br />THE CITY MANAGER T0, ON OR AHOUT JULY 1, 1958, THANSFER FAOM TI-IE RESERVE FUND <br />OF TH-c CITY OF PARIS INTG THE INTEREST AND REDEMPTION FUND THE AWUNT NECESSARY <br />TU MAKE UP THE DEFERRED PAYMENTS. <br />WHEREAS, it has been presented to the City Council of the City of Paris <br />that, due to the short term sale of 1957A Series 6'Vater and Sewer R2venue Bonds, <br />it placed a greater burden on the finances of the Citr of Paris than was anti- <br />cipated when the budget for the fiscal year was approved and adoptPd by the <br />City Council; and, <br />V'dHEREAS, there are interest and retirement payments due prior to .7uly l, <br />1958, which tivere not provided for in the budget; NOW, THEREFORE' <br />BE IT QRDAINED BY THE CITY OOUNCIL Or THE CITv pfi PARIS, TL-XAS: <br />That the Cit,T Manager of the City of Paris, Albert K. Steinheimer, be, <br />and he is hereby authorized and directed to defer the payment of $11~019.11 <br />each month for the months of March, April, May, and June into the Interest and <br />Redetnption Fund, and he is hereby authorized and directed to take from the <br />Reserve :=und of the City of Paris, on or about July l, 1958, the sum of <br />~ 44,,076.44, to be placed into the Interest and Aedempti.on Fund to replace the <br />payments deferred. <br />Passed and adopted this lOth day af March, A. D., 1958. <br /> <br />~ /✓L.~~'~/ ° <br />Ma yo r <br />i" . <br />~ <br />hTTEST: <br />~ ~ <br />, City Clerk - - <br />APP VED AS T~M: <br />~t~--~~-~ <br />City ttorney. <br />