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Sec. 5. Such notes shall be executed by the Mayor and Village Clerk and <br />bear the® seal of the corporation. They shall be payable at the office of the <br />Treasurer of the Village of Mayf field, Ohio; they shall express upon their face <br />the purpose for which they are issued and that they are issued pursuant to this <br />ordinance, <br />Sec. 6. All assessments collected for the improvements aforesaid and <br />unexpended ..balances remaining in the funds after the costs and expenses of said <br />improvements have been paid, shall be applied to the payment of said notes and <br />the interest thereon until both are fully provided for. <br />Sec. 7. Said notes shall be first offered to the Treasurer as officer <br />in charge of the Bond Retirement Fund, and so many of the same as shall not be <br />taken by said fund shall be sold at private sale by the Village Clerk for not less <br />than par and accrued interest, and the proceeds from such sale, except any premium <br />and accrued interest thereon ( and the amount thereof necessary for the payment of <br />interest prior to the maturity of said notes), shall be paid into the proper fund <br />and used for the purpose aforesaid and for no otler purpose, and for which purpose <br />said money is hereby appropriated. Any premium and accrued interest ( and the <br />amount necessary for the payment of interest. prior to their maturity) shall be <br />transferred to the Bond Retirement Fund to be applied in the payment_of principal <br />and interest of said notes in the manner provided by. law. <br />Sec. 8. Said notes shall be the full general obligations of the Village <br />and the full faith, credit and revenue of said Village are hereby pledged for <br />the prompt payment of the same. The par value to be received from the sale of <br />the bonds anticipated by said notes and any excess fund resulting from the <br />issuance of said notes shall, to the extent necessary, be used only for the <br />retirement of said notes at maturity, together with. interest thereon, and is <br />hereby pledged for such purpose. <br />Sec. 9. In the event that such assessments are not levied or bonds are <br />not issued to provide a fund for the payment of said notes at maturity, a general <br />tax shall be levied against all of the property in said Village for the payment <br />of such notes and the interest thereon. _ <br />Sec. 10. The Village Clerk is hereby directed to forward a certif ied <br />copy of this ordinance to the County Auditor, <br />Sec. 11. This ordinance is Hereby determined to be an emergency measure, <br />necessary for the immediate preservation of the public peace, health and safety <br />of such Village by reason of the fact that it is necessary to complete said <br />improvement during the present season, and said ordinance shall go into <br />immediate effect upon its passage. <br />Passed this 19th day of August, 1963. <br />Attests <br />L~ <br />Mayor - President of Council <br />/// Cr' ri .~ ,d~ <br />(SEAL) 1.~v~~~ i~°" Cllerlc <br />