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HomeMy WebLinkAbout1938.04.02it iYU~l~P ~JP/~li~iio JOSEPH B.TOW NSEN D,JR. ~ ~ - ~~/t~~iiio~> irf __~~iii~ J.CHARLES MURTAGH GEORGE S.MUNSON JOSEPH B,TOW NSE ND CASPAR W. B.TOWNSEND ~_~~'~j~'~~/~~~~/ _ j~~~/- j~ ~~~~/~~~~ 1842-1896 CHARLES C.TOW NSEND GEORGE F. BAER APPEL ~ JOSEPH WHETSTONE ~ "~ ~ ~ /7~ir>ii/ ~~e~/iir/, ~/I'PP~l ROBERT A.HALL TOWNSEND MUNSON ~~i~ri~~~~rii, ~ ~ ~ . larch 2.h., 1938 Commissioners of Cumberland County, Aeting as Commissioners of Cumberland County Institution District, Penna. Dear Sirs X30,000. Cumberland County Institution District, Pa., Tax Anticipation Note No. l; dated &larch 15, 1938; due September 15, 1938; bearing interest at the rate of 1~ per annum, payable at maturity; principal and interest payable at The Philadelphia National Bank, Philadelphia Penna. We beg to advise you that we have examined the resolution of the County Commissioners of Cumberland County, acting as Commissioners of Cumberland County Institution District, Pennsylvania, authorizing the issuance of the above described note, pursuant to the Act of June 24, 193?, P.L. 2017. Said resolution was duly and properly adopted by said Commissioners on Brfarch 16, 1938, and provides that the principal and interest of this note shall be pay_ able out of the taxes assessed and levied for the pwrposes of the Institution District and to be collected during the year 1938. Said resolution further provides for the form of said note. We have also been furnished with satisfactory proof that the anticipated taxes for the purposes of the Institution District for the year 1938 are more than sufficient to pay the principal and interest of said note at the maturity .thereof . In addition to the above, we have been furnished with an affidavit that there is no litigation pending or threatened affecting the validity of the note and with an affidavit as to the genuineness of the signatures of the officers executing the note, their incu~ubency in office, and that the seal Cumberland County Institution District - 2 - biareh 2~, 1938 affixed to said note is the genuine and proper corporate seal of the Cumber- land County Institution District. We have examined the executed note and find that it is duly and properly executed and conforms with the form prescribed in the resolution above re- (erred to. As the foregoing note is issued for not more than one year in antici- pation of revenue, no approval of the Pennsylvania Department of Internal Affairs is necessary. We beg to advise you, therefore, that in our opinion this note has been properly issued and constitutes a valid and binding obligation of the Cumber- land County Institution District. Very truly yours, GFBA:VL ~l ~.~,,..d ~~,e~b'