1977-110 - Laserfiche WebLink

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M. "Fiscal Year" shall mean the period commencing on October 1 of each year and ending on the succeeding September 30. N. Words importing singular number shall include the plural number in each case and vice versa, and words importing persons shall include firms and corporations. SECTION 3. FINDINGS. It is hereby ascertained, determined and declared that: A. The Issuer does not now own, operate and maintain the Facilities. B. It is necessary and desirable to acquire and construct the Facilities including, but not limited to, the acquisition of rolling stock, the construction of transfer stations, construction of a central disposal facility and the acquisition of land, as pro- vided herein (hereinafter called "project"), in order to preserve and protect the public health, safety and welfare of the inhabitants of: the Issuer. C. The Issuer has outstanding $1,100,000 Revenue and General Obligation Notes, maturing May 1, 1978, bearing interest at the rate of 4.65% per annum (hereinafter called "Outstanding Notes"), issued for the purpose of temporarily financing the construction of the Facilities. Said Notes are redeemable on any date prior to maturity at the price of par and accrued interest to the date of .such redemption provided notice is given as required by said Notes. It is also deemed necessary and advisable and in the Issuer's best financial interests that said Notes be redeemed and paid from the first proceeds of sale of the obligations issued here- under, in the manner hereinafter provided. D. The Revenues to be derived from the operation of the facilities are not now pledged or encumbered in any mariner. E. The estimated Revenues to be derived from the opera- tion of the Facilities will be sufficient to pay all of the principal of and interest on the obligations to be issued hereunder, as the same become due, and to make all required sinking fund, reserve or other payments. -3-