1442 ORD DIRECTING CITY MANAGER TO REFRAIN FROM TRANSFERRING $111,019.11 FOR MARCH, APRIL, MAY AND JUNEOADINANGE NO'.
APd ORDIiVANCE DIRECTING THE U-ITY MANAGER TO REFRATN FRDM TRANSFERRING
$11,019.11 FJR THE NDNTHS OF MARCH, APRIi, MAY, AND JUNE, IN THE INTERE5T
AND REDEMPTIUN FUND FOR THE PURROSE UF RETIRING REVENUE BC7ND OBLIC,ATIONS IN-
CURRED AFTER THE ADOPTIUN OF TI-IF BUDGET R)R THE FISCAL YEAR, AND DIRECTING
THE CITY MANAGER T0, ON OR AHOUT JULY 1, 1958, THANSFER FAOM TI-IE RESERVE FUND
OF TH-c CITY OF PARIS INTG THE INTEREST AND REDEMPTION FUND THE AWUNT NECESSARY
TU MAKE UP THE DEFERRED PAYMENTS.
WHEREAS, it has been presented to the City Council of the City of Paris
that, due to the short term sale of 1957A Series 6'Vater and Sewer R2venue Bonds,
it placed a greater burden on the finances of the Citr of Paris than was anti-
cipated when the budget for the fiscal year was approved and adoptPd by the
City Council; and,
V'dHEREAS, there are interest and retirement payments due prior to .7uly l,
1958, which tivere not provided for in the budget; NOW, THEREFORE'
BE IT QRDAINED BY THE CITY OOUNCIL Or THE CITv pfi PARIS, TL-XAS:
That the Cit,T Manager of the City of Paris, Albert K. Steinheimer, be,
and he is hereby authorized and directed to defer the payment of $11~019.11
each month for the months of March, April, May, and June into the Interest and
Redetnption Fund, and he is hereby authorized and directed to take from the
Reserve :=und of the City of Paris, on or about July l, 1958, the sum of
~ 44,,076.44, to be placed into the Interest and Aedempti.on Fund to replace the
payments deferred.
Passed and adopted this lOth day af March, A. D., 1958.
~ /✓L.~~'~/ °
Ma yo r
i" .
~
hTTEST:
~ ~
, City Clerk - -
APP VED AS T~M:
~t~--~~-~
City ttorney.