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Sec. 6. A11 assessments collected for the improvements aforesaid <br />and unexpended .bal~nnces remair~3.iig in the funds after the costs and expenses <br />of said improvements have been paid, shall 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 .cage of the Bond Netirement Fund, and so many of the same as <br />shall not be taken by said fund sha].1 bs sold at private sale by the Village <br />Clerk for not lass than par and accrued interest, and the proceeds from such <br />sale, except ar~y 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 paii3 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) shall be transferred to the Bond Retire- <br />ment Fwnd to be applied in the payment of principal and interest of said notes <br />in the manner provided by law. <br />Sec. $. 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 valuo to be'received <br />from the salmi of the bonds anticipated by said notes and ar~y excess fund <br />resulting from the issuance of said notes shall, to the extent necessary, <br />be used on],y 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 afund for the payment of said notes at maturity, <br />a general tax shall be levied against a]1 of the property i.n said Village <br />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 this ..ordinance to the County Auditor. <br />Sec: ll. This. ordinance is hereby 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 19th day of September, 195. <br />Approved <br />Attest: <br />t~z~~o36.~l <br />Mayor - esident . of . ouncil <br />