24-75 BAN- property owners portion - sewer,etc. on Beach Rd in Clfton Park Lagoon

Home Browse Search

Section 5. Said tax shall be and is hereby ordered, compute~, certified, levied and extended hpon the tax duplicate and collected by the same officers, in the same manner and at the same time that taxes for general purposes for each of said years are certified, extended and collected. Said tax shall be placed before and in preference to all other items and for the full amount thereof. The funds derived from said tax levy hereby required shall be pl. aced in a.separate and distinct fund, which, together with the interest collected on the same shall · be irrevocably pledged for the payment of principal and interest on said bonds when and as the same fall due. Section 6. Said bonds shall be first offered at par and accrued interest to the Director of Finance as officer ih charge of the Bond. Retirement Fund in his official capacity, and if said officer refuses to take any or all of said bonds, then said bonds not so taken shall be advertised for public sale and sold in the manner provided by law. The proceeds from the sale of the bonds, except the premium, accrued interest thereon and capitalized interest, shall be used for the purpose aforesaid and for no other purpose and be allocated to the improvemc~t herein described. The premium and accrued interest received from such sale shall be transferred to the Bond Retirement Fund to be applied to the payment of the principal and interest of said bonds, in the manner provided by law. Section 7. The Clerk of Council is hereby authorized and directed to certify a copy of this ordinance to the Auditor of Cuyahoga County, Ohio, according to law. Section 8. That this ordinance, having measure, shall be in full force and effect from and approval by the Mayor. be~gn~declared to/~_ezqan emergency :d i~mediat~y/a~:~r its passage -- P~'esident of C ' Approved: , - ' i Clerk o~ouncil Mayor