|
NO.
<br />
<br />36-70
<br />
<br />BY:
<br />
<br />Messrso War~,, Wendling,
<br />Gaydos, Gra~er, Huffman,
<br />Usher
<br />
<br /> of
<br /> AN EMERGENCY ORDII'IANCE authorizin[] thc is:;uancc of bond:
<br /> '. and the
<br />thc CS'by of Imkewood, Ohio, for thc purpo~ c: of nay~ng thc
<br />mort$on in anticipation of the cokXcction of sgec~aX as,sessmento,
<br />* ,, ~ x-t ion of the cost of ~nproving certain street::, in the Cit)' of
<br />Cit~ z !o~, . ' .... ween certain tez~ini~ by the neces~ary grading ~f thc
<br />~kewood, Ohzo~ Otb
<br />base, rcsurfacing with asphaltic concrete including thc nccessary keplace-
<br />ment and resetting of castings and the necessary resetting and rep~tacing
<br /> = ethcr with the necessary appurtenances theretO. ',
<br /> . to
<br /> of curbo~ g _ ~ ~= ~ has heretofore
<br /> ~o=~S the Council.of the. City of ...... d May 3, 1~5~ dete~.~ad
<br />
<br /> t i~prove certamn ~o-~ _ ..... ~a~ ~n ~aid o~inances; ~"
<br /> t%~ini and mn the maker prov*~=
<br /> I,~S~ notes were issued in anticipation of the bonds herein
<br /> to-wit: $5~,500 Street
<br /> authorized, which notes are about to mature, 1~9, $45,570 of which out-
<br /> provement Note, Project 1965' dated July 25,
<br /> standing note will be retired with f~ds which are a~ilable for such
<br /> p~pose; and
<br /> %~S~ the Director of Finance~ as fiscal officer of' the City~
<br /> has heretofore, certified the est~ated life of the ~provement and m~m
<br /> mat~ity of bonds proposed to be issued; and
<br /> %~S~ this Co~cil by two-thUds vote of the m~bers elected
<br /> thereto detemines that this ordinance is an ~ergency measure which is
<br /> necessary for the ~ediate preservation of the public peace~ property,
<br /> health, and safety for the reason that the ~ediate issuance and sale of
<br /> the bonds herein authorized is necessary to enable the City to retire its
<br /> outstandiD~ note which is about to ~t~e a~ thereby preserve its credit;
<br /> NOW~ T~FO~ BE ~ O~A~D by the Co~cil of the City of ~ke-
<br /> wood~ cwahoga Co~ty~ Ohio:
<br /> Section 1. That it is hereby dehlared necessary to issue bonds of
<br /> the City of ~kewood, Ohio, in the principal s~ of $9,930 for the p~pose
<br /> of paying the property o~ers' portion in anticipation of the collection of
<br /> special assessments, and the City's portion of the cost of ~.proving
<br /> OtiveJ
<br />
<br /> - Avenue by t~e %ecessary grading of the base,
<br /> Baxterly Avenue~ Cordo~ Avenue, Glady Avenue, ~ewood Avenue~
<br /> wood Avenue, and W~n~op .......... ino]udina the necessa~ replacement a~
<br /> res~facing 'with aspnai~mc concz'~o
<br /> resetti~ of castles and the necessary resetting and replacing of c~bs
<br /> together with the necessa~ appurtenances thereto~ between the te~ini and
<br /> in the maker provided ~ Ordinance Nos. 40-65 to 45-65, inclusive, passed
<br /> May 3, 1~5. 0f said ~ount the City's ~rtion is $7,630 and the property
<br /> o~ers' portion is $2,300.
<br /> Section 2. Said bonds shall be issued in the principal amount of
<br /> shall be issued in ~he de.nomination of
<br /> $9~930; shall be dated July if l~]O, _ . . d n~i~tion of $930;
<br /> $1,000 ea:~h, except bo~ No. 1 wnzch sh=ll be mn the e
<br /> to 10 both inclusive, and shall bear interest at
<br /> shall be n~bered from 1. ._ ' ~ ocr a~ payable on the
<br /> the rate of six and one-nail' per cent~ (6 1/2,=) . , .
<br /> first day of December, 1~0 and semi-annually thereafter on the first days
<br /> of June a~ December of each year until the principal s~ is paid, as eviden
<br /> by the coupons attached thereto; provided, however t~t if the bo~s are sol
<br />
<br />
<br />
|