An ordinance of the Board of Supervisors of Rush Twp. increasing nonelectoral indebtedness of the Township of Rush, Co. of Sch., Pa. by the issue of a guaranteed revenue note in the amount of $1,630,000 for the purpose of financing the acquisition and construction of a sewage collection system and related facilities in and for servicing a portion of the township; specifying the useful life of said sewage collection system and related facilities; providing for maturities, interest rate and redemption features of said note; covenanting to pay debt service from revenues of said sewage collection system; pledging full faith credit and taxing power for the payment of said note; approving the form of said note; directing the proper officers to prepare, execute and certify such proceedings as appropriate; designating a sinking fund depository and paying agent; finding a sale by negotiation to be in the best interest of the twp; ratifying the prior advertisement and directing further advertisement; approving a report to qualify debt to evidenced by said note as indebtedness as self-liquidating debt; providing for the proper officers to take all other action as may be necessary or appropriate; repealing all inconsistent ordinance and resolutions.
