1930 110 Ordinance - Laserfiche WebLink

Home Browse Search

Ordinance No. ]_1Q.? Sheet #2 or by cN.anging the donominai.ion of one of said bonds,: or both, a.s the case- may be; a_nd the amount to be. credited to the foregoing fund from the sale of said bonds s.Ya11 b-e 1ike.wise reduEed by the amaunti, of the, assessme:hts so paid iri cash for said improvenient.. Section 6d Al'T.?instal:Lmehts. of`said_ a.ssess.ments . and al"Z port.ions thereof., toget.her wi th interest, thereon, shall `be app:Tied t.o the payment of' said bonds and interest. as the same; shall become dve a.nd to no other purpose vJhatseever. - Se.ctian 7'6-. ThoE?- fadi.th, reueriue and credit of the V-illage of hla:yf ield are hereby -oledged for the prornpt payment of bo.th principal and:, inter.est of the bonds Iiereinbefore-desclibed in &:cca:rda.nce wit;h the Iatrrs and constit.uti.on af the State, of `Qhio. gection 8. For the. purpose of providi.ng the neces- sary funds to. pay the intere:st on the forcgo ing issue of bonds promptly vJhen a.nd a.s the same falzs due; and alBo to cxeat.e dnd nia.intain a_ funcl sufficient ta disclarge the said bonds at maturity, trere sha11 be: and is her.eby 1evi.ed on al]: the taxabZe, property of, the ViTlage o£ YAyfielc'L in addition to alT other -"axes$ a ctirect tax anrLUaIly during the petiod for which said bonds are to run in a:n a:mount suzficLent to progide a fund.for the dische?rge of t.Ne principal: of said seria.l bonds at maturity.; vrk?ich tax shEL1L no t be'2.e.ss than the in.terest: a.nd s inking zund t-axY required by Sect,ion ll of Artiele. XII af the Constitutian. ilrovicled, hovTev.er, that in each year . that, the assessments a.nt-i.c:ipated by said bonds &.re soa..yab.le- P-nd a_re: app1icable to the payment of such interest and principal and are appr:opriat_ed for sucli pvrpose., the am.ount of such tax shE.I1 be redu.ced by tNe: a,mauni,. of the a.ssessment so a.p- pr opria ted a lhat said tax shhall be, and hereby is ord:ere_ci cam= nuted; certified, leviea and eytended upon the tax duAlicGte., and collec4ed by the same office:es, in the same mnner and at the sam.e tirle thn.t. taxes fo.r general purpo-ses for- each of said years are cert i:f ied:,. extended and coT1ECted... Sa id tax shall be placed bef ore and in preference. to aTl othEr. 1teYAS' and for the full amount. thereof. ATl funds deri.ved from said tax levies hereby required, shall be placed in a-. separa'te and distinct fund, whichs tagether with a1T interest colTectect on the same, sYial1 be irrevobab].y pled- ged for- the payment of the intereslt, and pr--incipaT of said bonds vuhen and as the sarne fa11 clue. Section: 9. This- ord inance sYm.11. take effect and be in forc:e frorim and after the e.arliest pe ri od a.llowed by Tati?.. . Passed the 7th da.y of. Tuly, A. D. 19300 P,ttestt ------- ° iayo.r - President of Council s SEAUL. Cle r.k.