1923 044 Ordinance - Laserfiche WebLink

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6 and said bonds shall be dated September lst, 1923, and sha.ll bear interost a-t the rate of six per cerdtwn (6/o) p3,-r annwn, payable semi- annually on the first days of rpril and OctoUer of ea-ch ,year beginning April, 1924, until the principal sum is paid. Said bonds shall mal"ure as fol7,ovrs: One bond on October lst in each of the years fa.•oin 1924 to 1935, bo-bh inclusive, whieh maturi.ties are hereby determir_ed to be in sub- s-tantaally equal annual in stal lments . The principal and interest of a11 of said bonds shall be payab1E at the ofx'ice of The Guard_ian Savings and `1'rust Company, in the City of Cleveland, Ohioo SECTIOTd 3e That said boiids shall express upon their face the purpose for ivhich they are issued; that they are issued in pux- suance of this ordinance and shall be signed by the Yoa,yor and Clerk, e.nd sealed with tlie corporate seal- oi' said village. `i'he interest coupons at-cached to sa.id bonds shall bear the facsimile signatu're of the C1erk. SECTION 4. That for the purpose of pi oviding the necessary - funds to pay -che interest on the foregoing issue of bonds, promptly when, and as samo fa.lls due and also to provide a f'urid suificient to ? discharge the said serial bonds at maturity, theY•e shG.ll be and is hereby levied on all the taxable progerty in said village oT' Yla.;;riiold, Ohio, in addition ta all other taxes, a direct tax a.nnually du.i•ing -L-lie period said bond.s are to run, ii1 an amount sufficient -to provide f'unds to pay intere3t upon said bonds as and tivhen the sarae falls due, and also to provide a fund for the discharge of the principal o= said serial bonds a.t maturity, vrhich ta,x shall be not less than the interest and sinking fund tax reouired by Section i1 of Axticle Xll of the Constitution. Said tax sha11 be and is hex•eby ordered computed, certifiod, levied and extended upon the tax duplicvte and collected by the same of f'icers, in the same marner and at the same tir.le that ta.xes foz• general purposes ior each of said years a.l e certif ied, elci;ended and col.lected. Said tax srall be placed before and in pr•eference 'uo al1 other iter.is and f or the full wnount thereof lhe funds derived from said ta.xes hereby required sha11 be placed in a separate a.nd distir.ct fur.d, rrhich, together tivith a11 interest collected on the same, shall be irrevocably pledged for the payment of 'Uhe in-tez•est and principal of said bonds vrhen a.nd as the same shall z"all due. SECTION 5. Tha.t said bonds shall bo first oi'fered at par and accrued interest to the Trustees of the Sinlcing Fund in their ozfi.cial capacit;l, and if said irustees refuse to take any or 811 of said bor?ds, then sai:d bor_ds not so taken shallbe offered at par and accrued interest to the Industrial L`orrmiission of Ohio, and if said Industria.l Commission refizses to take any or a11 of said bonds, then said bonds not so taken sha11 be adverta.sed fo•r pub7.ic sale ar.d sold in the manner provided by lativ under the di-: ection of 'Uhe Pinar_ce Comraittee and the Clerlc,