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ORDINANCE I+O« 875 <br />By Dr. Lerrls AN Q$DINAWA TO PROYIDS F+OR T'HP <br />ISSUANGE OF DOM JX AIMCIPATIQN <br />OF THE -GOLL=ON C3F SPECIAL <br />ASS&SSWIMS MR 9"HE ZMPROVEMIdT <br />OF 3ET,HlJR3T, #0AD# ITS SfiiTTRS <br />LMM, Ecr G?TkCTING THHN <br />A WATU 3WN. <br />B$ IT ORDAINED BY THE C3'tTNCIL OF THE VTI.LA4S UF NflRTIi O;tMS`rWs STATF OF <br />OHIQa <br />Sectxon l. That fqr the pvtrposer of rais3.ng momW in antic3pation of <br />the oollection of epeaial asaessments tor the improvemaat of So1.hurst Rr>ad„ its <br />autire 1ength,, by construct3.ng thareian a rrnter ma3n, in acraordance rith Ord#.nmce <br />No. 815 passed on the 16th day of Yagg,.j95t}j bands of the Village aY' Narth 0lmsted, <br />Ohto, sxaall,be issued ta the anumt of $12s,050.00 to payn&tes prerlous,3,y isaued <br />and abo'tat t4 bocaeome due and payabl+s. <br />Sec:tian 2. 5aid bands shall be sigmed tV the MWor and C1exk, bear date <br />of 3une 3.p 19510 $nd shall ber nmbered axad be due and pa,yab3.e as foLlowat <br />D at?e, aL,,,Mat? AMR" <br />October 1, 1952 3 $1250»00 <br />(7ctober l, 1953 2 1200,40 <br />October l, 1954 3. 12OO„tX) <br />Oetaber 11 1955 4 1200.00 <br />October 1, 2956 5 1200.00 <br />Qct.oher 1.* 1"7 b 1200«00 <br />OCtobOP ls 1958 7 1200,00 <br />dctobar 18 3.9$9 8 1200.00 <br />Octesber 1 f 1960 9 1m .00 <br />4ctober 1„ 1$61 10 1200,00 <br />It 3.s hareby datermi:.nod that Lhe a1ove maturitias are iaa substantia]1y <br />squa1 annual inetal].xmts. <br />Saic3 bouds sha11 be of the dezondnaEion at U240.00 esahj ewopt bend <br />No, i which shal). be 3.n the ded4j*t?.icn of 41250.00; shall bes?r interast at the <br />r$te of three per aentum per sAn? ?Mable semi-anrttatally on the First days of <br />April and October of eaah year and Por which the propar inte.re?? coupns bewar^ing <br />a taceimile 4f the signature of the C3.errk shaU be attaohsc3 to and made a part a.t <br />said bcsnds; prav3.ded, ha?we"rothat 3.f sa?id bands 4m aold beari.ng a different <br />rate of interest than hereinbefore speeif3.edy sueh bonda shall bear such rate of <br />interest as aay bs pruyided for in the resvl.ution of Gvuneil apprrrv3xtg the awrd <br />therea.£. Princ3.pa1, and interest shall be payable at the Etank of Ber*a Compenyj, <br />North Olmted BranchY in the Vi1lage of North Olmted,w Ohiaw. <br />3ectt3on 3. Fcsr the purpQse of gxovidiaag #whe neaeasary f'unds t,o pay