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?n <br />Village. The interest coupons attached to said bonds shall bear the facsimile <br />signature of the Clerk. <br />Sec. 4. That for the purpose of providing the necessary funds to pay the <br />interest on the foregoing issue of bonds promptly when and as the same falls due, <br />and also to provide a fund sufficient to discharge the said bonds at maturity, <br />there shall be attd is hereby levied on all the taxable property in said pillage <br />of Mayfield, in addition to all other taxes, a direct tax annually during the <br />period said bonds are to run in an amount sufficient to provide funds to pay <br />interest upon said bonds as and when the same falls due and also to provide a <br />£und for the discharge of the principal of said serial bonds at maturity, which <br />tax shall be not less than the interest and sinking fund tax required by Article <br />XII, Section 11, of the Constitution of Ohio, and shall be outside of the <br />limitations of Section 2 of said Article. <br />Sec. 5. Said tax shall be and is hereby ordered computed, certified, <br />levied and extended upon the tax duplicate and collected by the same officers, <br />in the same manner, and at the same time that taxes for general purposes for <br />each of said years are certified, extended and collected. Said tax shall be <br />placed before and in preference to all other items and for the full amount <br />thereof. The funds derived from,said tax levies hereby required shall be <br />placed in a separate and distinct fund, which together with all interest <br />collected on the same, shall be irrevocably pledged for the payment of the <br />interest and principal of said bonds when and as.the same fall due. <br />Sec. 6, That said bonds shall be first offered at par and accrued <br />interest to the officer in charge of said fund, and if said officer refuses <br />to take any or all of the bonds, the bonds not so taken shall be advertised <br />for public sale and sold in the manner provided by law. The proceeds from the <br />sale of said bonds, except the premium and accrued ittterest thereon, shall be <br />used for the purpose aforesaid and for no other purpose; the premium and <br />accrued•interest received from said sale shall be transferred to the Bond <br />Retirement Fund to be applied to the payment of the principal and interest of <br />said bonds in the manner provided by law. <br />Sec. 7. It is hereby determined that all acts, conditions and things <br />necessary to be done precedent to and in the issuing of these bonds in order <br />to malce them legal, valid and binding obligations of said Village have happened, <br />been done and performed in regular and due form as required by law; that the <br />faith, credit and revenue of said Village are hereby irrevocably pledged for <br />the prompt payment of the principal and interest thereon at maturity; and that <br />no limitation of indebtedness or taxation, either statutory or constitutional, <br />has been exceeded in issuing these bonds. <br />Sec. 8. The Clerk is hereby directed to forward a certified copy of <br />this ordinance to the County Auditor.