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Ssc. 2'. That sai-d bends sha..1 be numbered. 1 to 13 inciwive, slal]. <br />be clateg August 1,- 1958, md sha].1" bear _ intereat, at the.rate of 4% per amun, <br />payable semi-anrnaslly on -the ].st dajrs of June and December of-eachyears <br />beginning June .Ist, 1959, skal]. be of fhe . dezomination_ of $1#000.(0 each, <br />except that bond No. 1 sha11 be ix1 the amount of $95%0qs and slia7.1 mature <br />as f0310Vs' which maUr3.ties_ are hereby cleterYained to be substanti.a7.1y <br />-equal antmal installmentea to-w3.t: <br />$1950..00 on December I.?ts, 1960; <br />$10O()00O_ on the lst'day of December in eacla of the <br />. years 19611 A0 1967, both inclnsive, <br />$2000.00 on the 1st day of Decennber in the year <br />. 1968. -- <br />$2000.fl0._ on the lst dayr of Decembgr in the year 1969. <br />? <br />Sec: 3. That. aaid bonds ahall be designated "RrTater Main Bonis of 195811, <br />shall be sI?gried by the Niayor and. Clork, sha71 be sealed w]:th the corporafie <br />seal of sa3d Vi1Zaga' and the 3nterest eoupoa5 attaehed. thereto shall bear <br />the facsinul.e signature of the. V31lage Clerk. ard shal_1 be payable ` at the <br />Ma3,n Office of the t3entral lUtional Barik of Cleveland$ Clev+elands, t3h3.o• <br />Sec..A.: That said _ bonds. may be 3.ssaed and sold at snch rate of <br />infierest-o?ier t,Ikan that hereiaabmre specitied . ss map be specM ed by th3.s <br />Cw.ncil..: in if,s_ i•es olution awarding the sa].e thersof. . <br />Sec..__ .That the proceeds of the sale af said bonclsp except fi,hs <br />premivm ard accrued 3.eterest t,bareon_ard the portion sold to eover interest <br />pend3.tig the cv].lecti:on of -assessments, shall be depasited to the ca?ed3.t of <br />the Qili.age af Nlayfield Water Ma3n Improvement 7and. f or the Pur'Pose of PWi.ng <br />the aforesa3.d anti,cipat3.on no,te and. the properLy owners' por°Li.on of the costs <br />arrl expenses of said 3.tnprovement? for which said parpose saLd.money is hereby <br />approprxated. <br />Sec• -6, The _ premium_ md _. accrued. interest9 if_- amF' received f or the sale <br />of saiEt os-and the proceeds of the portf.on of s aid boniis sald to cover <br />interest ttiereon pending collec-tion_of assessments sha11 be appl.ied ts the <br />pqmsnt of the priacipal and iriteres.t_ of sa3d bonds 3.n the manner provided by <br />law. , i <br />i Sec. 7. That a11 insta7.Iments of sai:d assessments. md portions thhereof.9 <br />; togethg-r With 3.nterest- thereon, sYtall be applied to the payment of said bons3s <br />? and anterest as the same became due and fc>r no otdier :purpose whatsoevers <br />j - --. . <br />? Sec; 8. 2'liat.,for the. purpose of providi.ng_ tlie nec_essary f'nnds to pay <br />i the inte tesr`?on the farego3.ng 3s sues. of b orxls promptl,y vhen and as the s ane <br />? fa3ls due and also?',-to provide afund sufficient to discharge the said ser3.a1 <br />? bonds at maiau.r3.tyj there shaZ1 b e and is hereby lev3.ei an all the taxab].e <br />? propeztjr. in the Qil7.age of ?'jayfie3.d.,_ in addition to a1.1 other_ taxes., a direct <br />' tax annualg dur:i:ng_ the period.. said bvnds are to run,.in_ an. anouat, suf'fic3ent