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- Sec, 6, All assessmettts collected for the i.mprovenents 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 note and <br />the interest thereoa until both are fully provided for. <br />Sec. 7. Said note shall be first offered to the Treasurer as officer <br />in charge of the Bond Retirement Fund, and if it is not taken by said fund, <br />it shall be sold at private sale by the Village Clerk-Treasurer for ttot less <br />than par and accrued interest, and the proceeds from such sale, except any <br />premium and accrued interest thereon ( and the amount thereof necessary for the <br />payment of interest prior to the maturity of said note), shall be paid into the <br />proper fund and used for the purpose aforesaid and for_no other purpose, and for <br />which purpose said money is hereby appropriated, flny premium and accrued interest <br />( and the amount aecessary for the payment of interest prior to their maturity) <br />shall be transferred to the Bond Retirement Fund to be applied in the payment of <br />prittcipal and interest of said note in the manner provi.ded by law. <br />Sec. B. Said note shall be the full general obligation of the Village <br />and the full faith, credit and revenue of said Village is 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 neceasary, be used only for the <br />retirement of said note 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 <br />are not issued to provide a Eund for the payment of said note at maturity, a <br />gerteral tax shall be levied against all of the property in said Village far the <br />payment 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 detexmined to be an emergency measure, <br />¢ecessary for the immediate preservation of the public health, peace, safety <br />and welfare of said Village and its inhabitants, and for the further reason that <br />the immediate issuance and sale of the note herein authorized is necessary to <br />enable the Village to enter into a construction contract to provide the improvement <br />described above, which is urgently required to eliminate perils to pedestrians <br />during the coming season, and said ordinance shall be in full force and effect <br />immediately upon the date of its passage. ' <br />passed this 18th dap of September, 1967. <br />,Sttest: <br />a-4?,4 //, <br />(Seal) Clerk-Tr surer <br />Mayor - President of Co cil j?