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? <br />i <br />CITY OF NORTH OLMSTED <br />- 2 - <br />No.' 69-g <br />sale of the bonds anticipated by said note and any excess funds resulting <br />from the issuance of said note shall to the extent necessary be used only <br />for the retirement of said note at maturity, together with interest thereon, <br />and are hereby pledged for such purpose. <br />Section 7. All essessments collected for the improvement aforesaid <br />and any unexpended balance in the improvement fund after all costs and ex- <br />penses of such improvement have been paid, shall be applied to the payment of <br />said note and the interest thereon until both are fully provided for. <br />Section 8. In the event that such assessments are not levied or <br />bonds are not issued to provide a fund for the payment of said note at matur- <br />ity, a general tax shall be levied against a11 of the property in said City <br />for the payment of such note and the interest thereon. <br />Section 9. It is hereby determined and recited that all acts, con- <br />ditions and things necessary to be done precedent to and in the issuing of <br />said note in order to make the same a legal, valid and binding obligation of <br />the City of North Olmsted have happened, been done and performed in regular <br />and due form as required by law and that no limitation of indebtedness or tax- <br />ation, either statutory or constitutional will have been exceeded in the issu- <br />ance of said note. <br />Section 10. The Clerk of Council is hereby authorized and directed <br />to forward a certified copy of this ordinance to the County Auditor of Cuya- <br />hoga County. <br />Section 11. This ordinance is hereby declared to be an emergency <br />measure necessary for the preservation of the public peace, welfare and safety <br />of this City, and for the further reason that the immediate construction of <br />said improvement is necessary to eliminate existing hazards to pedestrian and <br />vehicular traffic; wherefore, this ordinance shall take effect and be in force <br />i.mmediately upon its passage and approval by the Mayor. <br />PASSED: WC,1 zz_u ,1969 <br />ATTEST• <br />F oxence Holm, Clerk of Council <br />APPROVED : JAJ & 9 ,1969 <br />dz.,dA. <br />Ralph Christman, Mayor <br />W?[ G?( . <br />/ -.t.Z "?f / . <br />Lqj ?? <br />/ ' <br />fo's -f- e d / ."73 -- 6. J? <br />Francis J. 0'Ne' , President of Council