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SECTION 1. That it be and it is found and determined and that its President <br />and Village Board of Trustees has been authorized by the majority of the electors <br />of said Village vding on the question at the special election duly called, noticed, <br />held and canvassed for that purpose, to issue bonds of said Village in the amount <br />of 001000 for the purpose of purchasing fire equipment for its fire department <br />consisting of two fire engines, tank truck, hoses, pumps and two-way radio system <br />and necessary appurtenances and equipment, the same being necessary and essential <br />to the efficient and proper administration of the affairs of said Village. <br />SECTION 2. That in order to raise the sum of $'x800000 needed for the purpose <br />of purchasing fire equipment for its fire department consisting of two fire engines, <br />tank truck, hoses, pumps and two-way radio system and necessary appurtenances and <br />equipment essential to the efficient administration of said Village, there be <br />borrowed by, for and on behalf of tree Village of Elk Grove Village of the <br />County of Cook, Illinois, the sum of ti, -80,000 and to evidence said loan negotiable <br />coupon bonds of said Village be issued, said bonds to be desi6nated as "Fire Equip- <br />ment Bonds", to be dated November 1, 1960, to be 80 in number - to be numbered 1 <br />through 80 inclusive, to be of the denomination of ol.000 each and maturing serially <br />1;5,000 on February lot cf each.of ,the years 1963.to 1966 inclusive and ;,10,000 <br />on February let on each of the years 1967 to 1972 inclusive; Bonds Nos. 1 through <br />30 inclusive, due February 12 1963 through 1967 inclusive, shall bear interest <br />at the rate of 3a per cent per annum. Bonds Nos. 31 through 80 inclusive, due <br />February 1, 1968 through 1972 inclusive, shall bear interest at the rate of 3 3/4 <br />per cent per annum. Interest shall be payable on August 1, 1961 and semi-annually <br />thereafter on the first day of February and August of each year in which interest <br />is due; said interest payment to date of maturity of principal shall be evidenced <br />by interest coupons attached to each bond and maturing on the dates herein providedi <br />Both principal and interest shall be payable in lAwful money of the United States of <br />America at the AK RICAN NATIONAL BANK AND TRUST COMPANY OF CHICAGO, in the ;,ity of <br />Chicago, Illinois. The seal of said Village shall be affixed to each of said bonds <br />and said bonds shall be signed b� the President of the Village and attested by the <br />Village Clerk and said coupons shall be signed and attested by said officials re- <br />spectively, by their respective facsimile signatures, and said officials by the <br />execution of said bonds shall adopt as and for their am proper signatures their <br />respective facsimile signatures appearing on said coupons. <br />-2- Ord. /x147 <br />