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Section 4. That the Notes shall first be offered to the officer <br />in charge of the .Bond Retirement Fund for investment in such Fund and, <br />if rejected by such officer, shall be sold at private or public sale by <br />the .Director of Finance at a rate or rates of interest not exceeding the <br />limitation set forth in Section 3 hereof, such sale to be made at not <br />less than the par value of the Notes together with accrued interest <br />thereon, if any. .Any premium and accrued interest shall be credited~to <br />the Bond Retirement Fund to be applied to the payment of the principal <br />of and interest on the Notes in the manner provided by law. <br />Section 5. That the faith and credit of the Village are <br />hereby pledged for the payment of the principal of and interest on the <br />Notes at maturity, in accordance with the Constitution of the State of <br />Ohio, the laws of the State of Ohio, the Charter of Mayfield Village and <br />,the Codified Ordinances`of Mayfield Village, Ohio, 1979, as amended. <br />Section 6. That the par value to be received from the sale of <br />the Bonds and any premium or accrued interest resulting from the issu- <br />ance and sale of the Notes shall, to the extent necessary, be used only <br />for the retirement of the Notes at maturity, together with interest <br />thereon, and are hereby pledged for such purpose. <br />. Section 7. That, during the period while the Notes .run, there <br />shall be and is. hereby levied on all the taxable property in the Vil- <br />lage, in addition to all other taxes, a direct tax annually not less <br />than that which would have been levied if the Bonds had been issued <br />without the prior issuance of the Notes. Said tax shall be and is <br />hereby ordered computed, certified, levied and extended upon the tax. <br />duplicate and collected by the same officers in the~same manner and at <br />-4- <br />