HomeMy WebLinkAboutOrdinances_1977_CCv0001.pdf ORDINANCE NO. 1977
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF REDLANDS
AMENDING ARTICLE 144 OF THE REDLANDS ORDINANCE CODE ADDING
DEBT SERVICE TO THE DEFINITION OF "COST REASONABLY BORNE"
THE CITY COUNCIL OF THE CITY OF REDLANDS does ordain as follows:
SECTION 1 . Section 14403 . 6 is hereby added to Article 144 to
read:
" .6 Debt service costs, consisting of repayment of
principal and payment of interest, trustee fees and
administrative expenses on all financings and
borrowings. Any reserves required in addition to
the above expenditures shall be considered costs if
required by covenant in any securities ordinance,
resolution, indenture or general law. "
SECTION 2. This ordinance shall be in force and take effect as
provided by law.
SECTION 3 . The City Clerk shall certify to the adoption of this
ordinance and cause it to be published once in the Redlands Daily
Facts, a newspaper of general circulation printed and published in this
City.
Mayor of the City of Redlands
ATTEST:
ty lerk
I, Lorrie Poyzer, City Clerk, City of Redlands, hereby certify that the
foregoing ordinance was duly adopted by the City Council at a regular
meeting thereof held on the 17th day of March, 1987 , by the following
vote:
AYES: Councilmembers Larsen, DeMirjyn, Wormser;
Mayor Beswick
NOES: None
ABSENT: Councilmember Johnson
City Cle�k