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    Home » Sec. 18-106. Creation of Sinking Fund.

    Sec. 18-106. Creation of Sinking Fund.

     

    Sec. 18-106. Creation of sinking fund.
     
    The council shall provide a sinking fund of one and one-half (1-1/2) per cent on all sinking fund bonds of the city now outstanding, and a like sinking fund of one and one-half (1-1/2) per cent for all sinking fund bonds of the city hereafter issued, until such time as the assets of the sinking fund are sufficient to retire such sinking fund bonds. (Code 1959, § 12-63)
     
    Last updated date: 10/23/2006 4:15:21 PM