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Sec. 6. All assessments collected for the improvements aforesaid <br />and unexpended .balaxices remaining in the funds after the costs and expenses <br />of said improvements have been paid, sha71 be applied to the payment of said <br />notes and the interest thereon until both are fully provided for. <br />Sec. 7. Said notes-shall be first offered to the treasurer as <br />officer in char~e._of the Bond Retirement Fund, and~so many of the same as <br />sha11 not be taken by said fund shall be sold at private sale by the Village <br />Clerk for not less than par and accrued 'interest, and the proceeds from such <br />sale, except any premium and accrued interest thereon (and the amount thereof <br />necessary for the payment of interest prior to the maturity of said notes), <br />shall be paid .into the proper fund and. used for the purpose aforesaid and~for <br />no other purpose, and for which purpose said money is hereby appropriated. <br />Any premium and accrued interest (and the amount necessary for the payment <br />of interest prior to their maturity) sha]1 be transferred to the bond <br />retirement food to be applied i.ri the~.payment of principal and interest of <br />said notes in the manner provided by law. <br />Sec. 8. Said notes shall be the full general obligations of the <br />Village and the full faith, credit and revenue of said Village are hereby <br />pledged for the prompt payment of the same. The par value to be received <br />from the sale of the bonds anticipated by said notes anti arty: excess .fund <br />resulting from the issuance of said notes shall, to the extent-necessary, <br />be used only for the retirement of said notes at maturity, together with <br />interest thereon, and is hereby pledged for such purpose. <br />Sec. 9. In the event that such assessments are-not levied or bonds <br />are not issued to.provide a fund for the payment of said notes at maturity, <br />a general tax outside of tax limitations shall be levied against all of the <br />property in said Vil1.,a•ge for the payment of such notes and the interest thereon. <br />Sec. 10. `The .Village Clerk is hereby directed to forward a certified <br />copy of dinance _to the County Auditor. <br />Sec, ]:],, This ordinance i.s ~h,ereby determined to be an emergency <br />measure,necessary for .the immediate preservation of the public peace, <br />health and safety of such Village by reason of the fact that it is necessary <br />to complete said improvement during the present season, and said ordinance <br />shall go into immediate effect upon its passage. - <br />Passed this 18th day of July, 1955. <br />Attest: <br />• Y <br />S erk <br />Approved: <br />Mayor - resident of ouncil <br />