1928 098 Ordinance - Laserfiche WebLink

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SECTION 5. The px°oceed.s of bonds herQby determined to be issued in anticipation of the collection of assessments for said improvemerat °and 'all of - the asses9ments collected for said improvement,_ shall be applied to the ps,yment of the note and interest thereon unt3,1 both are,fzlly paid and thereafter said agsessments sha11 be applied to the payment of said bonds and interest. thereon. SECTI0N 6. That the faith, revenue and csedit of the Villa.ge of TJlayfield are hez°eby pledged gor the prompt pay-ment of both pra.ncip,!.?l and interest of the note hereinbefore described in aCeorclance wi.th the laws and constitution of the State of Ohio. -- SECTION 7. If for an,y reason the asgessments for sPaid improvement shall not be levied or sha11 not be collected or paic'1; or bonds shall hot be issued in anticipation of the 'collection of 'said 'asse'ssments,- then, a.nd i`n tha$ event, there sha,ll be, and is hereby ordered to be.levied on,all the taxable property in the Village af Mayfield., in addition to all,other ta$em a direct tax stzfficient to pro4ide fands,for the payment of the I principal 'a'nd interest, on sa.id?note. Said tag shall -lie s.nd -is hereby ordered c'omputed, certified, '_ levied? and extended from ?e tag duplicaie and collected by the same officers;?,' in tYie `sa,me mnner and at - tYie same- time that t-axes for generaZ pu.ap'o$es are ,?e?tifiea; ' eXtena:ea and collccted. fihe proceecls from, said taxes -sha,ll° ba placed in' a sepa.rate and distinct ftiznd and used only £or the payment of said note. 4:• SECTi0N-8. 2'his ordi'nance shall take effect and be-in force from and af°ter the earliest period allowed by lawe , PASSED.- October 22, 1928. -? ATTESTs ` . . ' 1R?a,yor and :President of t e Council , Clerk _o f. ,the Counci 1