1971 009 Ordinance - Laserfiche WebLink

Home Browse Search

ORDINANCE N0. 71-9 Page 2. said note shall, to the extent necessary, be used for the retirement of said note at maturity together with interest thereon, and is hereby pledged for such purpose. Section 8. During the period while such note runs, there shall be levied on all the taxable property in the Village of Pfayfield, in addition to all other taxes, a direct tax annually not less than that which would have been levied if bonds had been issued without the prior issue of such note. Said tax shall be and hereby is ordered computed, certified, levied and extended upon the tax duplicate and collected by the same officers, in the same manner and at the same time that taxes for general purposes for each of said years are certified, extended and collected. Said tax shall be placed before and in preference to all other items and for the full amount thereof. The funds derived from said tax levy hereby required shall be placed in a separate and distinct fund, which, together ioith the interest collected on the same, shall be irrevocably pledged for the payment of the principal and interest of said note or the bonds in anticipation of which it is issued, when and as the same falls due. Section 9. The Clerk-Treasurer is hereby directed to forward a certified copy of this Ordinance to the County Auditor. Section 10. This Ordinance is hereby determined to be an emergency measure necessary for the immediate preservation of the public health, safety and welfare of said Village and for the further reason that the issuance of said note must occur at the earliest possible date so that the funds to be derived therefrom will be promptly available to the Village to pay the casts of the improvement and preserve the credit and funds of the Village; wherefore, this Ordinance shall be in full force and effect from and immediately after its passage. Passed this 18th day of January, 1971. • u ~-~-~5` ®% n='/ MAYOR-PRESIDENT OF COUNCIL ATTEST: .~~v~ ^" (SEAL) CLERK-TREASUP.ER