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<br />By
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<br />AN 9IIDXNANCE $.uthoriz1ng the Mayor and Directof of Fj,nance to
<br />lssue bonds!n tbe S\.ID\ of on. 1houäand.· Et.~t Hundl't1d and Sixty
<br />:tUne ,poJ,lá1'$ ·'{$1,~69..00} Dollars toP1'9vidt):a. f.ul').d for; the
<br />:pa,yment' o~ \11e portion oft:he cÖ!3t and ~xpense 'for which the special
<br />assesament has heretofore been levied for the improvement of
<br />Jorthland A.vènl1e f'rom Margaret to :Delaware Àn~ues bl laying watef
<br />main of' six inoh cast iron pipe therein with neoessary valves,
<br />hydrandts and other apPurtenanoes inoi4ental and neoessary thereto.
<br />
<br />Knirk
<br />
<br />Mrs.
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<br />f?,4@
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<br />ORDINANCE NO.
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<br />,,' ~ '" ""_;';'" ,":;'.;,:_ ,.,' '"" 'j .(e', $ -\,: ".
<br />:BE J;T.ºR+JAJ.NEDþy...dtJ1eCouncil ,of tÞéCity ot Lå"!<etiootti'do\1nty of '
<br />CUY~Qga. and State 'of Ohiò .,thJ::'ee..;f'ourths of aU membersconcurr~ng:
<br />., . " . ".' .
<br />. ~ ',. " ..1., .. .. _ ~." I ^.. " .. _, .,' <- __' .. .. ~ ,'. '" .. ,_ ,.. .... ~
<br />s.ect~Qrh;L:',j:hat to provide à fùnd. forthe' þaymento;f' the portion
<br />o:f'f1¡he c.ost and expense for \1Þichthe !Speoial al3s(!ssment: 'haliJ here--
<br />tõ;for~been l.eviedforsaid improvement the May'6r and-Director of'
<br />Finance b.(!!;U1d tJ::¡.ßY are hereby authorized to issue f bonds Qf the
<br />City of iLa;Kewood. Ohio, in the aggregate StmlQf .,869.00 in the
<br />following denominations and ma.turities: tour bQnds of"t37~.00 each,
<br />one bond in the 4enom1nation of $369.00. maturing serially:-
<br />Bond 10. 1 CÞ369.000otober 1st, 1926
<br />Bond 10. 2 37~.00 October 1st, 1927
<br />Bond 10. 3 37,.00 Ootober 1st, 1928
<br />Bond No.4 37,.00 Octóber 1st, 1929
<br />Bond No. , 375.00 October 1st, 1930
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<br />';~.. ~ " l' '. . ·''1;.'·"fl .~ r~ '1' .':
<br />Which rna.tuiitiéø. are'he:reby determined. to,be. .in sµbstMtiIÙ1,yequal
<br />anriuiÙa¡nounts.with . interest tÞ(!reQ:nat thera.t(: · o:t, . perÇl~nt~
<br />per"annUIII.payable sE I!J.l"'!;U1nually on ,A.)fril 1st .and. Qctober :rat ef¥.1~"
<br />year until all ofthé ~aid bonds !lave beend.u1Ypa.id andr.etire4.
<br />arid·sha.ll be :payab1e. bothp:rino;i.paland . interest,' at tÞe ·office of
<br />the D1rectorof F:inance ot the City of. Lakewood. . Said bonds so ,
<br />$.utho;rized to pe.issueds.hI¡.'l11ie datëdOotòber 1st,. 192~' ,and ..."
<br />shall bl9.S1gned~isold by said offioers ae¡proviðed bY1a.w~.a.nd
<br />tl;ie :¡;>rcc;eedg¡ t~reb:f'; except þremiÙJ!l. aocrued.ipterest ønQ..the. . ..
<br />ænountneceseary for interest, untU thefiret half òf . the. ta.:x:es fÇf:
<br />th~year 192' are availe,ble~' shall be applied to the payment 9f tJ}e
<br />cost anð, expënse of. said impr ovement . a.s aforel¡iaid,andto no other
<br />purpose wl;iatsoeVe~~The full ·faith. credit and' re'vehuesof.the .
<br />City of' iLake\7QQd..Onio. ,are l;iereby pledged. to the payment of sa.id
<br />bonds and tÞe inte.i"estthereoi1; If before the sale of said. 'bonds .
<br />any of the ov¡nen of Sa.id J;Jröpe:t'ty shà.ll pay their total ~s(!eßmèrl'f.,
<br />in cash the.liggregate sum in bonde' to be issued shaD,. Dë~i'àdtÙ;\e~ ".
<br />by c:led.uctj,ng the :amount eo pa."d in'c.a.sh from 'the tot<Ü. amount of 'the
<br />fund tope þl'ov.i4.(!d. ,and the oondsiss\\(!d !Shall be redùced in amount'
<br />0).' denominat;\cln;' orboth¡ßo. as to provide for a substantially equal
<br />amount matur ing . eacþ year. , " .
<br />. ~ :.~. _: '". . . ....\~ ,: ,,' ..¡.\ ,"" _',,~ ,~;,i ':..,' :.',\_:~-~., -"¡', _." _ .,'
<br />Sect10n 2~ That 1õaid annual payments of saidasse,$smentsand al):por-,
<br />tionS thereof <tlld.all interest thei'aòn 'shan be appli(!d to thep!Iù'ment
<br />of' said bònds :and the interest thereon as the same ßh<Ü.l beoome due.
<br />and t~ no other p~pose ~Þatao~ver.
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<br />.ctioti 3= Thà.tfor tÞe pUrpose of providing fùnds in àn·.a.mÞu¿t'
<br />¡ufficient 110 P?tY the interèst ort said serial bonds . andtop~v.i:de ,:,~
<br />a f\ln.d for ]!¡,hê fiflalredemptiort ofsa.id ponò.s. t1ieres1ia.ll oe anè
<br />is hereby levied upon all the real ànd personal property irtt:he City
<br />~~~, _... ~_.-i~'" ~....c...""""~.'.....-,.--,-~'-'~~.
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