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? <br />r <br />Said bonds shall be of the denomination of '%1,000.00 <br />each, except bond No. 9 which shall be in the denominat3.on of <br />$600.00; shall bear interest at the rate of three per centum <br />per annum, payable semi-annually on the first days of April <br />and October of each year and for which the nroper interest <br />cou;-:ons bearin- a facsimile of the simnature of the Clerk shall <br />be attached to and made a part of said bonds; provide, however, <br />that if said bonds are sold bearing a different rate of interest <br />than hereinbefore srecified, such bonds shall bear such rate of <br />interest as may be provided for in the resolution of council <br />approving the award thereof. Princinal and interest shal.l be <br />payable at the National City 3ank of Cleveland, Ohio, North <br />Olrnsted Branch, in the City of North Olmsted, Ohio. <br />Section 3. For the purpose of provid.ing the necessarSr <br />funds to pay the interest on the foregoing issue of bonds <br />promptly when and as the same falls due, and also ta x;rovide a <br />fund sufficient to discharge the said serial bonds at maturity, <br />there shall be ana is hereby levied on all taxable pronerty in <br />the City of North 4lmsted, in addition to all other Taxes, a <br />direct tax annually durinc, the reriod said bonds are to run, in an <br />amount sufficient to provide funds to ra,y the interest upon said <br />bonds as and when the same shall fall due, and also to provide a <br />fund for the discharge of the principal of said seriai bonds at <br />maturity, which tax shall not be .less than the interest and <br />sinking fund tax reruired by Section 11 of Article XII of the <br />Constitution. Provided, however, that in each year that the assessments <br />anticipated by said bonds are payable and are applicable to the <br />payment of such interest and principal and are all-Irovriated for <br />such purpose, the amount of such tax shall be reduced by the amount <br />of the assessment so anpropriated. <br />Said tax shall be and is herebtr ordered com-nuted, certi- <br />fied, levied and extended uron the tax durla.cate and collected <br />by the same officers, in the same manner and at the same t-,i.me <br />that taxes for general rur,.r.oses for each af said ZTears arQ certi- <br />fied, extended and collected. 5aid tax shall be niaced before