932 Ordinance - Laserfiche WebLink

Home Browse Search

, to alI. ather itsms and fQr the full amaunt thereof. The funds derived frmm said tax levies hereby ra;qutred, shall be placed in aseparate and distinct fund, wx#?ch, tvgether with the inw torest caileoted ean the same shall be irrevocably- pledged fvr the paymeut of prina3.pal and i.nterest of said hrands when and as the same fall due. Sectian 4. The Clerk is hsreby authorized and directed to certify a copy of this ord3.narzc? ?? the Auditar of Cuyahaga E:aunty, Uhic,, according to law„ Section 5. That a1l installments of said assessments, and all portigns thereaf, together wi.th interest thereoa, shall be applied to the gayment of said boncls and izztergst as the ??? sha1l beccrme due and to no othsr purpose whatsaever. Tn the event that the amou.nt Qf bonds required to be 3.ssued: for said improvement sha11 be a?educ+ad by the cash payment by the pr4perty owners in accvrd.ance with the opt3.4n inc3.uded ia the ass+essing ox°dinaLice, such reductian shall be accomplished by red.ucing a11 of the ser°ial boads hereinabove provided for so as to retaizt substantidlly equa1 annual maturi.t3.es. 3ecti4n b. ?Y?s Cl+?rk ?.s hereby directed to h,at?s ?id ?, laonds anci coupons grc:psrly grapared and executed, to se11 the same and to dep?stt the prc?ceeds in the City treasury to ttio credit of the Walter Road Water Irnprovement ftad for tho purpase of paying tbe cost of said imprrsvement not heretcafore pr*A&4 to be paid by said City and fc?r which purpose said maney 3,s hereby apgropriat+ed. Sectian 7. That said Bcands shall be first offered at par and aucrued interest to ?he Treasurer and. Offiaer in charge caf the Sinking Fund; and if sa3d Treasurer Qr Officer refuses to ta? any Qr a11 af said Bands then said Bands nc,t so taken sha1l be advertised ior public sals and sole in the manner prov#,deci by law but for not less than the par value and accrued interest,