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,,.!' `^ CITY OF NORTH OLl~TED ORDINANCE N0. ~L/sZ~ c_.~v~- AN ORDINANCE AME~TDIi~G SECTION 2 flF ORDII~t#NCE NO. 71-~ TO REVISE TN$ DATE AS OF iiI~IICH THE BONS A IZED THEREBY SHALL BE ISSUED, 1#ND DECLARIl~Ei AN ENC7C. WHEREAS, this Council on June 15, 1971, passed Ordinance No. 71-94 providing for the issuance of bonds in the principal amount of $187,100 For the purpose of purchasing six new buses for use in the operation of the North Olmsted Municipal Coach Line; and WHEREAS, this Council finds and determines that it is necessary to amend Section 2 of said Ordinance to revise the date as of which the bonds authorized thereby shall be issued; NOW, THEREFORE, BE IT ORDAINED by the Council of the City of North Olmsted, Cuyahoga County, Ohio: Section 1. That Section 2 of Ordinance No. 71-94 passed June 15, 19'71, shall be and the same hereby is amended to read in fu11 as follows: "Section 2. Said bonds sha11 be issued in the principal amount of $187,100 for the purpose aforesaid. The said bonds shall be dated September 1, 1971, shall. be issued in the de- nomination of $5,000 each, except Bond No. 1 which shall be in the denomination of $2,100, shall be numbered from 1 to 3$, both inclusive, and shall bear interest at the rate of five and one-half per centum (5-1~2~,) per annum, payable semi-annually on the first day of June and the first day of December of each year beginning June 1, 1972, until the principal sum is paid, as evidenced by t2~ coupons attached thereto; provided, however, that if the bonds are sold beaxing a different xate of interest than herein specified, such bonds shall bear such rate of interest as may be provided in the resolution of Council approving the award thereof. Such bonds shall mature in their consecutive serial order as follows: $37,100 on December 1, 1972 35,E on December 1, 1973 and 1974; and 40,000 on December 1, 1975 and 1976 which maturities are hereby determined to be in substa~rtially equal annual installments. Section 2. That Section 2 of Ordinance No. 71-94, passed June 15, 1971, shall be and the same hereby is repealed. Section 3. That the Clerk of Council is hereby authorized and directed to certify a copy of this ordinance to the Auditor of Cuyahoga County. Section 4. This ordinance is hereby declared to be an emergency measure necessary for the immediate preservation of the public peace, health and safety, of this City, and for the farther reason that the