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AN ORDINANCE DECLARING CERTAIN OF THE BONDS PROVIDED IN ORDINANCE NO.1061 TO BE NON-CALLABLE FOR A PERIOD OF TEN YEARS FROM DATE OF ISSUE
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WHEREAS, the City of Jonesboro has contracted, price to the issuance of bonds provided by Ordinance No.1061, that certain of them should not be subject to the call features outlined in said Ordinance, and this agreement made with the purchaser of the bonds is part of the consideration for same and this Ordinance is adopted before the delivery of said bonds and to evidence the agreement and bind the City of Jonesboro to the contractual agreement that the bonds described in this Ordinance shall not be called for a period of ten years.
BE IT ORDAINED BY THE Mayor and City Council of the City of Jonesboro:
1. The following described bonds authorized by Ordinance No.1061, adopted September 4, 1962, by the City of Jonesboro, shall not be called for payment before maturity for a period of ten years from date of issue. The provisions in said bonds and in Ordinance No.1061 stating a power and method of prepayment before maturity shall not apply for said period to the bonds of even numbers (those divisible by two).
2. All other provisions of said Ordinance shall remain in full force and effect. This Ordinance is adopted prior to the delivery of any of the bonds authorized by said Ordinance No.1061.
PASSED and ADOPTED this 5th day of November, 1962.