89-58 Automobile Parking System Revenue Bonds

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Thence westerly along the southerly line 187.37 feet to the southwesterly corner of said sublot, Thence south ou the westerly line of Sublot No. 5 and Sublot No. 6 about 69.79 feet to the northeasterly corner of Sublot N9. 5 in said Townsend Subdivision, Thence westerly, on the northerly line of said Sublot 164.04 feet to the easterly line of Coutant Ave°, · Thence south on said easterly line 100 feet to the northerly line of Sublot 7 in said Townsend subdivision, Thence easterly on the northerly line of Sublot No. 7 aforesaid 164.04 feet to the ~ortheasterly corner thereof, Thence north about 19.79 feet to the southwesterly corner of Sublot No. 7 in the T. M. Irvine Subdivision recorded as aforesaid, Thence east along said southerly line of said Sublot 181.95 feet to the westerly line of Highland Ave., Thence north along said westerly line 150 feet to the place of beginning, excepting therefrom such rights and areas as shall be designated by the Director of Finance with the approval of the original purchasers of the Series C Bonds. WHEREAS, by ordinance No. 72-53 passed November 2, 1953 (herein called the · ed the necessity of issuing $500,000 Git determzn - ~o t~o~, alled the Bond ordinance) council of the %rYking System Revenue Dona~ ~ ..... in c amount of Automobile P.a velo off-street parking facilitie, s, principal _ ac uire, zmprove an,.d de. _P-_A~ called the Indenture;, Impro~mant Bg. nds)' .~t?~ qof an indenture ~neremn ~u,~ ....... to time issued and authorized exeCum~ to secure such bonds together with additional parity bonds from time improvement Bonds and said Addi- thereunder (herein called Additional Bonds), said Bonds), and authorized initially tional Bonds being herein collectively called the the issuance of $175,O00 principal amount of said Improvement Bonds, which have been sold and delivered, and provided for issuance of the remaining $325,000 of such Improvement Bonds upon compliance with conditions as to earnings coverage and other matters similar to those required for the issuance of Additional Bonds by the termS of the Bond Ordinance and the indenture, and Jul 31, 1956 council authorized WHEREAS, by Ordinance No. 74-56 paS~sed Y .... ~ -- unt of Additional the issue of and the City has issued, $240,000 prmncmpa~ ~,.~o improving Bonds, which bonds have been issued for the purpose of acquiring, and developing certain lots for off-street parking, which lots have been ac- quired and developed; and wHEREAS, it is desired to provide funds sufficient with other available fundS to finance the proje.ct and to pay expenses incidental to the project or the financing thereof (zncluding legal, engineering and financial expenses), by the issuance and sale of $250,000 principal amount of Automobile parking Bonds, S. erieS C (herein called the New Bonds), under the of Ohio, said System Revenue powers granted by Sectmon 3, Article XVIII of the Constitution 2c