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<br />-, <br /> <br />icers, it shall be sold at private sale by the Birectør of Finance, but <br />not for less than par and accrued interest, and the proceeds frøm such <br />sale, except any premiums and accrued interest thereon, and the amounts <br />thereof necessary for the payment of interest prior to the maturity of <br />the note, shall be paid into the proper fund and used for the purpose <br />aforefjaid,. and for no other p>urpose. Any p>remium and accrued interest <br />and am~unt necessary for the p>ayment of interest prior to its maturity <br />shall be transferred to the bond retirement fund to be applied on the <br />payment of the principal and interest of said note in the manner pro- <br />vided by law. <br /> <br />2 <br /> <br />.""""'" <br /> <br />Section 7. Said note shall be the fall general obligation of the <br />City and the fall faith, credit and revenue of said City are hereby <br />pledged for the prompt payment of the same. The par value to be received <br />from the sale of the bonds anticipated by said note and any excess fund <br />res~ting from the issuance of said note, to the extent necessary, shall <br />be used only for the retirement of said note at maturity, together with <br />interest thereon, and is hereby p>ledged for such purpose. <br /> <br />Section 8. During the year or years while such note runs there <br />shall be levied on all taxable property in the City, in addition to all <br />other taxes, a direct tax annually not less tlilan that which wøald have <br />been levied if bonds had been issued without the prior issue of such <br />note. <br /> <br />Section 9. Said tax shall be and is hereby ordered to be com- <br />puted, certified, levied and extended upon the tax duplicate and CQ1- <br />lected by the same officer in the same manner and at the same time that <br />taxes for general purposes for each of said years are certified, ex- <br />tended and collected. Said tax shall be placed before and in preference <br />to all other items and for the fall amount thereof. The funds derived <br />from said tax levy hereby required shall be placed'in a separate and <br />distinct fund, which, together with the interest collected on the same, <br />shall be irrevocably pledged for the payment of the principal and inter- <br />est of said note or the bonds in anticipation of which they are issued <br />when and as the same fall dlie. <br /> <br />Section le. The Director of Finance is hereby directed to for- <br />certified copy øf this ¡¡¡rdinance to the County Auditor. <br /> <br />ward a <br /> <br />Section 11. This ordinance is hereby declared to be an emer- <br />geney measure fer the reasens stated in the preamble hereof, and pro- <br />vided it receives the affirmative vote of two-thirds of all members <br />elected to Council, it shall take effect and be in force immediately <br />upon its adoption and approval by the Mayor. <br /> <br />Ward <br />'President <br /> <br />Thomas c. <br /> <br />1 <br /> <br />June 22 <br /> <br />.Adep>ted: <br /> <br />Clerk <br /> <br />ReEls <br /> <br />A. <br /> <br />H. <br /> <br /> <br />Jtme 2 <br /> <br />Approved: <br /> <br />CJ:elestEl <br />MaYQr <br /> <br />Frank P. <br /> <br />~'"f'"1 <br />