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-2- <br /> <br />vided in Ordinances No. (i) 29-66 to hl-66, inclusive; (ii) 15-67 to 26-67, <br />inclusive; (iii) 29-68 to 37-68, inclusive, and h8-67; and (iv) 28-69 to <br />B6-69, inclusive, passed (i) April 18, 1966; (ii) April 17, 1967; (iii) <br />May 8, 1968 and July 17, 1967; and (iv) May 5, 1969, respectively. <br /> <br /> Section 2. Said bonds in the principal sum of SBO0,O00 shall be <br />issued in the denomination of ~5,000 each; shall be numbered from 1 to 60, <br />both inclusive, and shall be dated June 1, 1971. Said bonds shall bear <br />interest at the rate of three per centum (3%) per annum, payable December 1, <br />1971 and semiannually thereafter on the first day of June and the first day <br />of December of each year, until the principal sum is paid; provided, however, <br />that if said bonds are sold bearing a different rate of interest than herein- <br />above specified, then the same bonds shall bear such rate of interest as may <br />be provided in the resolution of Council approving the award thereof. Said <br />bonds shall mature as follox.~: <br /> <br /> $50,000 on December 1 in' each of the years 1972 to 1977, both inclusive. <br />Said maturities are hereby determined to be in substantially equal annual <br />installments · <br /> <br /> Section 3o That said bonds shall express upon their face the <br />purpose for which they are issued; that they are issued in pursuance of <br />this ordinance and shall be signed by the Mayor~ and Director of Finance, <br />and the corporate seal of said City shall be Affixed thereto or a facsimile <br />thereof shall be reproduced thereon, provided that one of such signatures <br />may be a facsimile signature. The interest coupons attached to said bonds <br />Shall bear the facsimile signature of the Director of Finance printed or <br />lithographed thereon. They shall be designated "Street Improvement Bonds <br />of 1971" and shall be payable in lawful money of the United States of <br />America at the office of the legal depositary of the City, presently <br />The Cleveland Trust Company, Cleveland, Ohio. <br /> <br /> Section h. That for the purpose of providing the necessary <br />funds to pay the interest on the foregoing issue of bonds, promptly when and <br />as the same fall due and also to provide a fund sufficient to discharge the <br />said serial bonds at maturity, there shall be and is hereby levied on all the <br />taxable property in said City of Lakewood, in addition to all other taxes, a <br />direct tax annually during the neriod said bonds are to run in an amount <br />sufficient to provide funds to ~ay the interest upon said bonds as and when <br />the same fall due and also to provide a fund for the discharge of the principal <br />of said serial bonds at maturity, which tax shall not be less than the interest <br />and sinking fund tax required by Section 11 of Article XII of the Constitution. <br /> <br /> Said tax ~shall be and is hereby ordered computed, <br />certified, levied and extended upon the tax duplicate and collected by <br />the same officers in the same manner and at the same time that taxes for <br />general purposes for each of said years are certified, extended and collected. <br />Said tax shall be placed before and in preference to all other items and <br />for the full amount thereof. The funds derived from said tax levies hereby <br /> <br /> <br />