68-184 Ordinance - Laserfiche WebLink

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_ 2 Section 7. All assessments collected for the improvement aforesaid ancl any unexpended balance in the improvement fund after all costs and expenses of such improvement have been paid, shall be applied to the payment of said note and the interest thereon until both are fu11y provided for. Section 8. In the event that such assessments are not levied or bcnds are not issued to provide a fund for the payment of said note at maturity, a general tax shall be levied against all of the property in said City for the payment of such note and the interest thereon. Section 9. It is hereby determined and recited that a11 acts, conditions and things necessary to be done precedent to and in the issuing of said note in order to make the same a legal, valid and binding obligation of the City of North 0lmsted have happened, been done and performed in regular and due form as required by 1aw and that no limitation of indebtedness or taxation, either statutory or constitutional wi11 have been exceeded in the issuance of said note. Section 10. The Clerk of Council is hereby authorized and directed to for- ward a certified copy of this ordinance to the County Auditor of Cuyahoga County. Section 11. This ordinance is hereby declared to be an emergency measure necessary for the preservation of the public peace, welfare and safety of this City, and for the further reason that the immediate issuance and sa1.e of the note herein authorized is necessary to provide funds with which to retire a presently outstanding note and thereby protect the credit of this City; wherefore, this ordinance shall take effect and be in force immediately upon its passage and approval by the Mayor. Passed; 1968 Attest: ce.) ?V? Florence Holm, Clerk of Council Francis J. 0'Neiy1, President of Council ,?. Approved : 111.16 ? 0L;- lph E. Cliristman, Mayor 11A.r .c?d . ., IGY