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and fn prePerence to a11 other items and fpr the full amount <br />thereof. The funds derived from said tax levies hereby required, <br />shall be placed in a separi:te and distinct fund, which, together <br />with the interest callected on the same shall be irrevocablg <br />p1edged for the payment af principal mne3 3.nterest of ?aid bbnds <br />wt1on and as the sa.me fa1l dU'e. <br />Seation 4. The CIark is hereby aut.horized and directed <br />to certify a copy csf th3.s ordinance to th+e Auditor of Cuyahaga <br />County, Uhio, accardfng to 18w, <br />Sectic?n 5. That all inatallments of ?aid assessments and <br />all porLions thereof, together with interest thereon, shall be <br />appZiBd 'GQ th6 p8ymBnt of $3id boI1G'ts a'id iilt@PeB$ as tYlE3 3aTqe <br />s22a11 becom+e due and to no at;h€ar pu:rgo$e whatsoever. In the <br />event that the arsraunL af tbonc3s rer*uir+ed to be issued for said <br />improvement shall be rectuced by ths cash pay?ment by the praperty <br />owners in acccrdance with the optiQn included in the assessing <br />ordinance, such reduction $hall be accomp:Lished by reducing all <br />of the serial bonds hereinabove prQVided for sa as to retain <br />substantially equal annual matusities. <br />Section 6. The Clerk is hereby direeted to have said bQnds <br />and cougor,s properly prepared and executed, to sell the same <br />and to degQsit the prcrceeds in ths City treasury to the credi,t 0f <br />the Gladland Av+enue Water Imprcrvsment Fund fQr the gurpo?? of <br />pa?ying the cast af said imprcavement nat heretofore grovided to <br />be pafd by said City and for wbich purpcse aaid m4ney is hereby <br />appropriated* <br />Section ?. That said Bonds shall be first offered at par <br />and accrued interest to t,he Treasurar aund t3ffic+er in charge o€ <br />the Sinkin,? Furtd and if said Treasurer or Ufficer refuses to <br />take anp or a11 of ssid Bonds then said B4nda not sQ ta1cen shall <br />be adverti$ed fc+r public sale and said in the manner provided bq <br />law but for nat :1ess than the par value and accrutad intere3t.