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? and in preference to all other items and for the thereof. The funds derived from said tax levies shall be placed in a separate and distinct fund, with the interest collected on the same shall be pledged for the payment of principal and interes when and as the same fall dus. full amaunt hereby required, which, together irrevocably t of said bonds Section 4. The Clerk is hereby authorized and directed to certify a copy of this ordinance to the Auditor of Cuyahoga County, Ohio, according to law. Section 5. That all installments of said assessments and a11 portions thereof, together with interest thereon, shall be applied to the payment of said bonds and interest as the same shall become due and to no other purpose whatsoever. In the event that the amount of bonds required to be issued for said improvement shall be redueed by the cash payment by the property owners in accordance with the option included in the assessing ordinance, such reduction shall be accomrlished by reducing all of the serial bonds hereinabove provided for so as to retain substantially equal annual maturities. Section 6. The Clerk is hereby directed to have sai.d bonds and cour?ons nroperly pr. epa..red and executed, to sell the same and to denosit the proceeds in the City treasury to the credit of the McKenza.e Road No, 1Water Imnrovem?nt Fund for the purpose of paying the cost of said improjrement not her.etofore provided to be paid by said City and far F,uhich r.urrose said money is hereby approclriated. Section 7. That said Bonds shall be first offered at par and accrued interest to the Trea.surer and Officer in char,?e of the Sinking Fund and if said TreasurEr or Officer refuses to take any or all of said 13onds then said Bonds not so taken shall be advertised for public sale andsola in the manner provided by law but for not less than the par value and accrued interest.