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( and the amount necessary f or the payment of interest prior to i-ts matvrity) <br />shall be transferred to the Bond Retirement Fund -to be app73.ed in tY!e payment <br />of principal and interest of. said note in t.he manner provided by law. <br />Sece 6. Said note shall be the fu1l general obligation of the Vi11.age., <br />and the fu71. faith, credit and revernze of said Vi3.7_age are hereby pledged <br />, for 'ihe prompt payment of the sameo Th.e pa r value to b e received from the <br />sale of the bonds antieipated by said note and ar?y excess fund resulting <br />from tx?e issuance of said note sl?.a13., to the extent necessary, be v.sed only <br />for the retisement of said note at matv:rity9 together with interest thereon' <br />. and is hereby pledged for such purpose. <br />Sec. 7. During the year or years whi1e said note shall run, there <br />shall be levied on all th.e -taxab].e ge°operty in the village of rlayfield? Ohio' <br />in addition to all other talYes, a direct tax annuall.y not less th.an that <br />which trould have been lev3.ed i:f bonds had been assued wi.thout the prior 3ssue <br />of said note. Said t,ax shall be and is hereby ordered computed., certified., <br />levied and estamated upon -cthe tax duplicate and collected by the same <br />officers, in the same manner' and. at th.e same time that taxes for g eneral <br />purposes for each of said years are certified, extended and col:Lected„ Said <br />, tax shall be placed before and in preferance to a11 other. items and f or the <br />fu11 amount thereof. The fixnds derived from said tax levi.es herely requ3rea <br />shall be placed in a separate and d3.stinct fund, which9 together with the <br />interest coll.ected on the same., shall be 3rrevocably pledged for the payment <br />of the prancipal a nd interest of said no-te or the bonds in anticipation of <br />wh_tich s aid note 3s issued' when and as the s ame fall due. <br />Sec. 8. The Clerk is hereby dixected to f orurard a cer?ified copy of <br />this Urcli.nance to t he County Auuc7.a.tor. <br />Sec._9. This Ordin,ance is herebycdetermined to be an emergency <br />measure' necessary for t h.e irmnediate preservation of the publ.ic peace., health <br />and safety of said Village °by reason of the fact th.at it is necessary to <br />acquire said property to carr?r on vil].age functions as soan a s possible? and <br />said 0-rdinance shall go into effect immediately upon its passago$ <br />Passed this 26th day o£ Aus?ust ' 1957. <br />Mayor - resident of Council <br />Attest: <br />MM C rk