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Sec. 6, qll assessments collected for the improvemettts aforesaid and <br />unexpended balances remaining in the funds a£ter the costs and expenses of said <br />improvements have been paid, shall be applied to the payment of said note attd <br />the interest thereon until both are fully provided for. <br />Sec. 7. Said note shall be first ofEered to the Clerk-Treasurer as officer <br />in chatge of the Sond Retirement Fund, and so much of the same as shall not be <br />taken by said fund shall be sold at private sale by the Village Clerk-Treasurer <br />for not less than par and accrued interest, and the proceeds from such.sale, except <br />any premium and accrued interest thereon ( and the amount thereof necessary Eor <br />the payment of ittterest prior to the maturity of said noYe), shall be paid into <br />the proper fund and used for the purpose afaresaid and for no other purpose, and <br />for which purpose said money is hereby appropriated. ,Any premium and accrued <br />interest ( a¢d the amount necessary for the payment of interest prior to their <br />maturity) shall be transferred to the Bond Retirement Fund to be applied in the <br />payment of principal and interest of said note in the manner provided by law. <br />Sec. 8. Said note 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 note and any excess fund resulting from the <br />issuance of said note shall, to the extent necessary, be used only for the <br />retirement of said note at maturity, together with interest thereon, and ia <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 futtd for the paymettt of said note at maturity, a general <br />tax shall be levied against all of the property in said Village for the payment <br />of such note and the interest thereon. .. <br />Sec. 10. The Village Clerk-Treasurer is hereby directed to forward a <br />certified 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 immediate <br />effect upon its passage. <br />Passed this 1g.h day of June , 1967. <br />Attest: ? <br />(Seal) Clerk-Tr asurer <br />Mayor - President o£ ouncil