1928 096 Ordinance - Laserfiche WebLink

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ORDINANCE NO.??, By. Mr Lockemer: TO ISSUE BOPIDS IN A11TTICSPATION OF THE COLLECTION OF SPECIAZ 1?SSESSPfiENTS MR _ THE II?J''LPROVIlULEN'I' OF S. OvI'JI. CENTER ROAD BY - CONSTRUCTIIVG SIDZ4VAI,KS ON THE EASTERI,Y SIDE THEREOF. tTHEREA,S, the Council of the Village of Irlayfield, Ohio, has heretofore / by ordina,nce duly passed on the llth da,y of October,1926', declared the neces- si•ty of improving S.O.M.Center Road from the southerly boundry of the village to the southerly line of Islilson 14lills Road by constructing sidewalks an the easterly side thereof, and of levying a special assessment upon the property abutting said street to pay for said improvement, all in st,rict conformity to law. Now, therefore, BE, IT ORAAINED by the Council of the Village of &iayfield, State of Ohio, two-thirds of all members elected thereto concurriMgs SECTION 1. That for the purpose of raising money in anticipation of the levy and. collection of special assessments for the improvement af : SvO.M.Center Road from the southerly boundry of the village to the southerly line of Vlilson Mills Road by constructing sidewalks on the easterly side s thereof, bonds of said village shall be issued-to the amount of four thousand ? tcvo hundred dollars ($4,200.00). SECTION 2. Sai@ bGnds shall be d.esignated as the 115.0.T&CENTER ROA.D SIDhIMALK 120ROV15+' T BONDS"; shall be of the domin.ation of 01,000.00, except one bond which shall be of the domination..of $1,200.00 and numbered consecu- tively from 1 to 4, and. all made payable as follows; No.l. for $1,200.00 payable October 1st;1930. No.2. for 1?1,000e00 payable October lst,1931 No.3o for $1,000.00 payable October lst,1932 . Noo4. for $1,000v00 payable October 1st,1933. All of said bonds sha11 be'dated October lst 1928; shall drarP interest at the rate of six (6) per cent-per annum, payable annually and shall run for the periods of years hereinbefore set forth from said date; and srzid bonds and interest thereon shall be payable a.t the office of the Treasurer of the Village of IUfayfield, Ohio on presentation and surrender of said bonds and the coupons thereto attached as they respectively mature. SECTION 3. Said bonds shall.be prepared by the Vill.ane Solicitor, signed by the bTayor and Uillage Clerk, sealed with the seal of the Mayor; shall express upon their face the purpose for which.they are:issued,.and the fact that tliey are iesued pursuant to law, and this ordinance. SECTION 4. mhat upon sale of said bonds, any premiwns and the accrued interest realized therefrom, shall be paid to the Sinking Fund Trustees. The par value realized from the sale of said bonds ehall be placed in the village treasury to the credit of the "SoO.M.Center Road Sidewalk Improvement" ftiind, and shall be disbursed from said fu.nd on proper vouchers, in- payrnent of the expense of the improvement aforesaid, or in payment of ary money borrowed or note issued in anticipation of the issuance of bonds in anticipation of the collection of said special assessments.