4626 - 49 Issue bonds to improve Plover

Home Browse Search

ORDInAnCE MO, 4626 Mr. Tyler AN OP~I~¢g to provide for the issuance of Three Tho~Oar~t Six Hundred Seventy-five Dollars ($3)67~.00) of bonds of the City of Lakewood for the pa~e~ of the anticipatory r~te heretofore issued for the l~pose ~f lma~in~ the ~os% and exDenae of ixprovi~ Flower Avenue fro~ ~J~ead to MsOee Avamaes by ~ee~rfaciag 8ams with sheet asphalt or a~phaltie ~nerste and doing a~ or &Il grading, drain- A~ and curbing or other work necessary thereto. ~ER~A5. t~e Director of Ti~ee has issued a ~i~ ~ ~ the e.~ ~e ~ at ~t five ~) ~ara ~ ~ ~r ~d ~ ~ ~t~ of 8u~h ~ ~ five(~) ~a~ ~ ~RF~, the note SAfuod l,n amt~eipation ef She b~anee ~f the bonds inofter referred t~ falls due on er before ~ecea~e~ X. 1~o, sew, therefore ~ IT O.~)A~ 1~ T~ C~J~L OF T~g Cl~ OF 7,a~A~O9. 8Ta~ OF OH[Os Section 1. That it is dee~ed neeeasery to issue bonds of the City of Zake~'~od, Ohiop in the principal e~ of Three Th~uOa~ Six Hu.~. d Seventy-five DolOrs ($~,67..C.00) tn aUtictpation of the e~llacti~n of speciaX assessments, for th~ p~rpoee of paying the a~tieip~tor~ ~te heretofore issued for the purpose ~nt of P~v~ A~e f~ ~e~ ~ M~ Avers ~ ~a~f~i~ s~ ~ ~b~ng or.her ~ ~eess~ t~. Section 2. That ~onda of tho City ~ Lakewoo~ shall be isled for t~ ~se ~o~s~dj that s~d ~ ~ ~ ~ai~ted P~or Avers ~es~ ~j Iha~ ~ ~d ~m o~ (1) ~ five (~) eh~ ~ dated O~r l~ ~ ~d e~ ~t~ and ~ ~ ~n~tio~ fo~t $ 3 73~.00 - 1~ 73.~.00 ~ 7~.00 0etcher 1) X~O october 1, october X, October 1, Oeto~r 1, · ~ich ~aturitias are hereby deteruined ~o be ~n substantially equal annual stallu~nts, provided, however, that said bends shall be subject to call or deC,ion, in whole or in par~, on any interest paying date prior to maturity at ~t mere than par in a~c~rda~e with the provisioms ~f Zaction 22~-~ of the ~enaral Code of the State of Ohio~ and all of s~£d I~nda s}~ll bear tn~ersst at the rate of two (2) per cent per am3~rm~ payable $~i-a~tm~a!-~v on the first of April and October of each year until the principal eu~ is paid; provided further, however, that if said bends are awarded at a different rate of interest, they shall bear such rate of inter, s% as may be ~rovided for in the resolution of co~acil ~o~fimaing such awards Section ). That said ~nds shall be pre.red By the Di~c~r of ~w, stg~d ~ the ~r ~ D~e~r of Fi~e~ ~ed ~th ~e co.rate s~l of the $~d Ci~ ~d r~ord~ ~ the ~fiee ef the D~r of Fl~e s~l ~ss v~n their f~e ~he p~ae for ~ich ~y ~e ~sued p~s~t ~ ~w ~ t~o ordi~nce, ~ ~ 8~]1 ~ mdc ~ya~e~ ~th prl~ip~ ~ in~st~ at t~ office of the Di~r of Fi~Ce ~ t~ City ~f ~d~ ~ Of O~ga, Section 4. That the proeeodo fr~m the sale of aa~l b~ndo except the pr~_~_u~ and eccrued imte~est~ if any, and all of the assessments ~lleoted for the impr~veue~t eb~ll bo a~lAed to the ps,sent of tho antie~patory note and