1981 025 Ordinance - Laserfiche WebLink

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in his certificate awarding the Notes at private or public sale; shall be dated the date of respective issuance; shall mature not more than one (1) year from the date of issuance of the first Note issued hereunder, such maturity to be fixed by the Director of Finance in his certificate awarding the Notes at private or public sale; shall be redeemable at the option of the Village prior to maturity at par plus accrued interest to the date of redemption; shall be designated "Service Building Notes, Second Series"; shall express upon the face thereof the purpose for which they are issued and that they are issued pursuant to this Ordinance; and shall be payable as to both principal and interest at the office of the Director of Finance, Mayfield Village, Ohio or as otherwise deter- mined by the Director of Finance and set forth in the Notes, which determination is hereby authorized, ratified and confirmed. Section 4. That the Notes shall first be offered to the officer in charge of the Bond Retirement Fund for investment in such Fund and, if rejected by such officer, shall be sold at private or public sale by the Director of Finance at a rate or rates of interest not exceeding the limitation set forth in Section 3 hereof, such sale to be made at not less than the par value of the Notes together with accrued interest thereon, if any. Any premium and accrued interest shall be credited to the Bond Retirement Fund to be applied to the payment of the principal of and interest on the Notes in the manner provided by law. Section 5. That the faith and credit of the Village are hereby pledged for the payment of the principal of and interest on the Notes at maturity, in accordance with the Constitution of the State of -4-