Laserfiche WebLink
- 2 - <br /> Shall be payable each ~ear thereafter with interest thereon at the~ <br /> ~a~e_of ~ Pe~ centum~per annum, payable semi.annually on Aoril 1 ~.nd <br /> uc~ooer ~ each year, dntit all o ~ - - : <br /> f the said bonds have been duly paid <br />and retired, and shall be payable, bot~ principal and interest at tha <br />office of Director of Finance,City of LakewOqdOSazd bonds So authorizo~ <br />to be issued shall be d~ted day of sale; shall be signed and sold by <br />said officers as provlded by law andthe proceeds thereof shall be <br />applied to the payment o~ the cost and expense of said Zmprovement as <br />aforesaid, and to no other ~urpose whats. Oever. The full faith, credit <br />and revenues o£ the City Of Lakewood, Ohio, are hereby pledged to the <br />payment of said bonds and the interest thereom~. If within the- time <br />above specified and before the sale of said bondS, any of the owners <br />of said property shall pay their total assessment'in cash, the aggre- <br />gate Sum in bonds to be issued shall be reduce~ by deducting the amount <br /> paid in cash from the total amount of the fund to be provided and <br />the bond~ issued shall be severally reduced in amount proportionately. <br /> <br />Section 6: That upon the ~ale of said bonds the proceeds thereof to~ <br />gerber With moneys received from each payment of s~ld'assessments shall <br />be placed in the City Treasury and disbursed upon~oper vouchers in <br />Payment of' the cost and expense of the improvement aforesaid. <br /> <br />Section 7: That said annualypayments of said assessments and. all por- <br />tions thereof, shall be applied in the payment of said bonds and the <br />interest thereon, as the~ame shall become due and to ho other purpos~ <br />whatsoever. <br /> <br />Section 8: That for the purpose of. providing funds in an amount <br />~sufficient to pay the principal and interest on said bonds, and to <br /> Provide the Sinking, Fund for the final redemption of such portion of <br /> said bonds and interest as shall not be paid.by the assessment afore-. <br /> Said, there shall be and is hereby levied upon all the real and per- <br /> sonal property in the City of Lakewood, Ohio, a direct annual tax Zn <br /> addition t~ all other taxes sufficient fo~isaid purposes; and the <br /> amount thereof shall be ascertained levied and certified by the proper <br /> tax authorities of ssid City annually, and shall be collected as other <br /> taxes are collected. ~ <br /> <br />Section 9: This ordinance shall be in full'force and effect from and <br />after its adoption, legal publication and the earliest period allowed <br />by law. <br /> <br />Adopted: <br /> <br />- ~ay 1. 1922 <br /> <br />Approved: <br /> <br />· ~. A., ~ildie <br /> president <br /> <br /> A.q.~ Guild <br /> Clerk <br /> <br />T,. ~. Wtl1 <br /> Mayo~'-- <br /> <br /> <br />