Laserfiche WebLink
2 <br /> <br />shall be Rayable each year thereafter with interest thereon at the~ <br />rake of ~per Centum per annum, payable semm-~nnually on April i and <br />October i each year, until all of the said bonds have been duly paid <br />and retired, and shal~ be payable, both principal and interest at th~ <br />of'fiae.ofDirector of inance,C'ity of Lakewood. Said bonds so authoriz~, <br />to be ~seued sh~tl be -d~.ted day of Sale, ~hall be signed and so,ld by <br />said officers as provmded by taw andthe proceeds thereof shall be <br />applied to the payment of the cost and exp%nse of sa%d improvement as <br />aforesaid, and to no other purpose whatsoever. The full faith,, cred%, <br />and revenues of the City of Lakewood, Ohio, are hereby pledged to the <br />payment 6f said bonds and the interest th~reo~. If Within t~e time <br />above specified and before the sale of said bonds any of the owners <br />of said <br /> p~op~rt~ s~al~ pay their total assessment'in cash, the aggre- <br />gate sum mn oonas to oe issued shall be reduced by deducting the amount <br />so.paid in cash from the total amount of the fund to be provided and <br />the bondm issued shall be severally reduced in amount proportionately, <br /> <br />Section 6: That upon the~eale of ~aid bonds the proceeds thereof to- <br />gether With moneys received from each payment of said assessments sha[, <br />be placed in the City Treasury and disbursed upon~roper vouchers in <br />payment of the cost and expense of the improvem~ntaforesaid, <br /> <br />Section 7: That said annual payments 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 purpose <br />whatsoevero <br /> <br />Section 8: That for the purpose of providing funds in an amount <br />sufficient to pay the principal and ~ntereet on said bonds, and to <br />provide the Sinki~ 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 mn the City of Lakewood, 0h~o, a direct annual tax mn <br />addition ts all other taxes sufficient for said purposes; and the <br />amount 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 />Approved: <br /> <br />~uly l?., 1922 <br /> <br />L. E, Hill <br /> <br />Mayor <br /> <br />L. A; Hildie <br /> <br /> President <br /> <br />Clerk <br /> <br /> <br />