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• ? <br /> <br />- 2 - <br />from such sale, except any premiuzn and accrued interest, shall be paid into the <br />proper fu.n,d and used for the purpose aforesaid and for no other purpose. Any <br />premium and accrued interest shall be deposited in the Bond Retirement Fund. <br />Section 6: Said note shal.l be the full general obligation of the City and <br />the full faith, credit and revenue of sa3.d City axe hereby pledged fbr the prompt <br />payment of the same. The par value to be received f'rom the sale of the bonds <br />anticipated by said note and any excess funds resulting from the issuance of said <br />note shall to the extent necessary be used only for the retirement of said note <br />at ma,turity, together with interest thereon, and is hereby pledged for such purpose. <br />Section 7: In the event that such assessments axe not levied or bonds are <br />not issued to provide a fund for the payment of said note at ma.turity., a general <br />tax sha11 be levied against all of the property in said City for the pa,yment of <br />such note and the interest thereon; provided, however, that during the yeax or <br />years while such note runs there sha11 be levied on all the taxable property in <br />said City, in addition to all other taxes, a direct tax annually not less than <br />that which would have been levied for the City's portion of sa3d note, if bonds <br />had been issued therefor without the prior issue of said note. <br />Said tax shall be and is hereby ordered ecanputed, certified, levied and <br />extended upon the tax duplicate and collected by the same officers, in the same <br />ma,nnex and at the same time that taxes for general purposes for vach of said years <br />are certifYed, extended and collected. Said tax shall be placed before and in <br />preference to all other items and for the f1z11 amount thereof. The f?.uids derived <br />fram said tax lev3es hereby required sha].l be pl.aced in a separa.te and distinet <br />ftiuid, which, together with the interest collected on the same, shall be irreQOCably <br />pledged for the pa,yment of the principal and interest of said note or the bonds in <br />a.nticipation of which it is issued when and as the same fa11s due. <br />Section 8; The Clerk is hereby directed to forward a certified copy of this <br />ordinance to the County Auditor. <br />Seetion 9: This ordinan.ce is hereby declared to be an emergency measure <br />necessary for the preservation of the public peace, wel.f'are and safety of this <br />City, and for the further reason that the immediate issuance and sale of the note <br />herein authorized is necessary to provide funds to construct said improvement <br />which is urgently required to permit safe passage by persons using said streets <br />and to eliminate existing hazards to pedestria.ns; wherefore, this ordina,nee shall <br />take effect and be in force im¢nediately upon its pa.ssage and approva.l by the Mayor. <br />Passed; CjgA) .3 , 196$ <br />Attest: <br />21" -" <br />rence Ho , C erk of Council <br />Approved: /A I 3 (? 8 <br />Ralpy E. Christmaii, <br />yor <br />Preside t of , <br />Couneil <br />? ? ??1 ? ? C°.?'"3? <br />?-4- b9 &t.r1 ? ? <br />? <br />pos i- e. ? ?•2 /(, /(. <br />8'