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1922 035 Ordinance
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1922 035 Ordinance
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Last modified
11/19/2018 3:51:17 PM
Creation date
8/6/2018 6:23:19 AM
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Template:
Legislation-Meeting Minutes
Document Type
Ordinance
Number
035
Date
12/11/1922
Year
1922
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. . . . . . i ? , . . <br />the said serial bonds at maturity•, there shall be and is he.reby levied on <br />? ? , . . <br />al1 the taxable property in said Vi11age of =jayfielc1., Ohio, in adciition <br />to a11 other taxes, s direet tax annuaZly during the period said boncls are <br />to run in an amov.nt suifieient to provide fuazds to pay in'u-erest upon said <br />bonds as and when the same falls due and also to provide a fund for the <br />discharge of the princzpal oi' said serial bonds Gt matu.rity, v}.zich tax shall <br />be not less than the interest and sinking fund ta$ required by Seci;ion 17 <br />of Article XII of the Constitution. <br />Saict tax shall be and is hereby orde-recl computed, certified, <br />7.euied and extended upon.the tax du,plicate an.cl.collected by the same ofiicers, <br />in tlze sarae rnanner and at the sGme timo that taxes for general purposes for <br />e . _ , . <br />esch of saia years are eertified, extenaea and collected. Said tax shall be <br />- << <br />placed before and ia preference to al1 oth.er items and for the fu11 amotznt <br />? thoreo=. Zhe funds derived from said taxes liereby required shall be placed <br />in a spperate and distinct fund, iRrhich togethe-r with all interest collected <br />- on tlie same, shall be irrevocab7.y pleclged for the paynent of the interest <br />an.d principal of said bonds vlhen and as the sarne shall fa11 due. <br />SEC2IODT 5, That said bonds shall be tirst oifered at par and <br />aecru.ed interest to the rrustee of the Sinking Fund in their official Qap- <br />or <br />acity, and if said trustees refuse to take any xnft aii= of said boxld.s #hen <br />said bonds not so ta-ken shayl be offered at par and acerued interest to the <br />Board of Oomnissioners of the Sinking Fund of the-'.u Yiayfield Township Special <br />School District, and if said cornrnissioners refuse to take any or a11 0f said <br />bonds then said bonds not so taken shall be offered at par and accrued in- <br />terest to the 7'a.idmstrial Comnission of Ohio, an.d if said Industrial Com- <br />n?.ission refuses to take any or al1 0f said bonds then said bonds not so <br />? taken shall be adverEised fox° publie sa7.e and sold in the mamer providecl <br />by 1aw vnder the dizection of the FiiZarlce Comtnittee and the C1.erk, but not <br />ior 7.ess than i;hei-r par valve and accrusd interest; the proceeds from the
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