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October ~~ per cen~um per annum, payable semi-annually on April 1 an.~ <br /> each year, until all of the said bonds have been duly paid <br /> and retired, and shall be payable, both principal and ~nteres~ a~ th:~ <br /> office o~Director ~inance, City of Lakewoo.d0Sald bonds so au~horizo~ <br /> to be issued shall be d~ted ~y~ 1,1~2~, shall be signed and sold by <br /> said officers as provided by law andt~e proceeds thereof shall be <br /> applied to the paymen~ of the cos~ and expense of said ~mprovemen~ as <br /> aforesaid, and to no other purpose whatsoever. The full faith, credit <br /> and revenues of the City of Lakewood~ Ohio. are hereby pledged ~o the <br /> payment of said bonds and the interes~ theresa. If within the time <br /> above specified and before the sole oi said bonds, any of the owners <br /> of said property shal~ pay their ~otal assessmen~ in cash~ the aggre- <br /> gate sum in bends to be issued shell be reduced ~y deductin~ the amoun~ <br /> ~eP~d~n~cash~fr~m~h? total amount of the fun~ to be pro~ided and <br /> · ssuea sna±l Oe severally reddced in amount proportionately, <br /> <br />Section 6: That upon the sale of said bonds the proceeds thereof to- <br />gether with moneys received fr~m each payment of said assessments shall <br />be placed in the City Treasury and disbursed upon~oper vouchers in <br />paymen~ of the cost and expense Of the improvement aforesaid. <br /> <br />Section 7: That said annualypayments of said assessments snd all por- <br />tions thereof, shall be applied in the payment of said bonds and the <br />interes~ thereon, as the~ame shall become due and to ho other purpoce <br />whatsoever. <br /> <br />Section 8: That for the purpose of providing funds in an amount <br />sufficient to pay the principal and interes~ on said bonds, and to <br />provide the Sinking Fund for the final redemption of such portion of <br />said bonds and interes~ as shall not be paid by the assessmen~ afore~, <br />said, there shall be and ~s hereby levied upon all the real and per- <br />sonal property ~n the City of Lakewood, Ohio, a direct, annual ~ax ~n <br />addition ~ all other taxes sufficient for said purposes; and the <br />amoun~ thereof shall be ascertained levied and certified by the proper <br />tax authorities of said 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 />~une ~, 1922 <br /> <br />Approved.. <br /> <br />L. E. Hill <br /> <br />~ayor <br /> <br />, L. A. Hi!die <br /> President <br /> <br />A. O. Guild <br /> Clerk <br /> <br /> <br />