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1 ' <br /> <br /> i <br /> -2• <br /> office of the Sicking Fund Commission, ahe.~l express upon <br /> their face the purpose for ediich they are issued pursuant <br /> to .lax and ordinanoe and they shall. be made payable, both <br /> prinoipal and interest, at the office of the Director of <br /> Finanoa of the City of Lakewood, County of Cuyahoga, State <br /> of Ohio, wd the interest ooupons attaohed to ¦aid bonds <br /> shall bear the Yaosimile signature of the Mreotor of Finance.. <br /> Seotion 4. That the Faith, credit and revenue of the City ' <br /> o a ewood are hereby irrevooably pledged for the payment <br /> oP both the prinoipal and interest of t2}e bonds hereinbeforo <br /> „ described at maturity, in acoordanoe xith the laxs cad Con- <br /> stitution of the 3tatd of Ohio. That upon the sale of <br /> acid bonds klie premium and accrued interest shall be paid <br /> _ to the Sal~iag Fuad Commission. The par valve realised <br /> Prom the sale of acid bonds shall bs placed in the City <br /> Treasury to the orodit of the "Retaining Wall and Doak Bond <br /> Fund" in the sum first msrstfoned in Seotion 1 hereof and <br /> shall be disbursed Prom said fund upon proper vouchers in <br /> p}yment of the oost.and expense of said improvement, <br /> Section . That Por the purpose cf providing the necessary <br /> s o pay interest on the foregoing issue of bonds promptly <br /> xhen and ea the same falls due and, also, to provide a cum <br /> sufficient to discharge acid serial bonds at maturity there <br /> shall be and is hereby levied on all taxable property in the <br /> said City of Lakewood in addition to all other taxes a direct <br /> tea annually duricg the period said bonds are to run in an <br /> amount euffioient to provide funds to pay interest upon said <br /> bonds as and xhen same falls due and, also, provide a fund <br /> For the discharge of the .prinoipal of,said 8eriel bonds at <br /> maturity, xhieh tea shall bo not less than the interest and <br /> sinking fund required by Section 11 of Articie 12 oP the <br /> Constitution. Said tax shall be and is hereby ordered com- <br /> puted, certified, levied and extended upon the tax duplicate <br /> and collected by the same offloera in the same manner and <br /> at the same time that taxes for general purpose: in each of said <br /> years are certified, extended and oolleoted. Said tax shall <br /> be plaaed before and in preference to all other items and for <br /> the full amount thereof, The Funds 8erived from said tsa <br /> levy hereby required shall be placed xith the Sicking Fund <br /> Commission of the City of Lakewood is a separate and distinct <br /> fund, which together wlth all interest oolleoted on cam®, <br /> shall be irrevocably pledged for the payment of the interest <br /> and prinoipal of said bonds when and as same falls $ue. <br /> _ <br /> $eation 6. That the Mreotor of Finance is hereby directed <br /> fob <br /> onward a oertlfied Dopy of this Ordinance to the County <br /> Auditor. <br /> Seotion 7. Said bonds shall be Pirat offered at par and eoarued <br /> n eras o the Sinking Fund Commission of the City of Lakewood <br /> in its official capacity and to the officers having charge of <br /> the treasury investment eocount and so many of the acme as shall <br /> <br />