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<br />-3- <br /> <br />The premium and accrued interest received from such sale shall be transferr+sd <br />to the Bond Retire~ament Fund to be applied to the payment of the principal and <br />interest of said bonds, in the manner provided by law. <br />Section 7. 2~e Clerk of Council is hereby authorized and directed to certify <br />a copy of this ordinance to the Auditor of Cuyahoga County, Ohio, according to <br />law. <br />Section 8.. This ordinance is hereby declared to be an emergency measure <br />necessary for the preservation of the public peace, v~elfare and safety of this <br />City, and for the further reason that the notes of this City issued in anticipation <br />of these bonds are about to mature and must be retired with the proceeds of the <br />beds authorrized herein in order to protect the credit of this City; wherefore, <br />this ordinance shall take effect and be in force immediately upon its passage <br />and signature by the Mayor. <br />A:~~av~n: q/s-/7z <br />ph L. stern, l+ieyor <br /> <br /> <br />