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832 Ordinance
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832 Ordinance
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1/14/2014 2:28:00 PM
Creation date
1/2/2014 10:25:36 AM
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North Olmsted Legislation
Legislation Number
832
Legislation Date
7/18/1950
Year
1950
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2. <br />PaYab3e sem3.-annually on the Yirst deys of itpril and 9ctober aY <br />each yesr and for which the proper interest coupons bearirig a <br />faasimlle of the signature 4f the Cterk sha.Lt bP att,ached to and <br />made a part of sBS.d bondsg provided loweverjl tr.at if ss.id banda <br />are sold bearing a different rate of intsrest than hereinte:fore <br />spscifierit such bands aha21 bear sutth rate of intarast as rnay be <br />pra-vi.ded far i.r. the rBSO1ut,ioII of counc3.1, epprcving the award <br />thez^eof, Principa,l and interest aha1.1 be payable at the Bank of <br />Eerea Campary? North Olmgted Eranchp in the, 'Gillage of 13arth Olmsteds <br />C?hio. <br />3ectfan 3. For the purpa?se o,£ providing the naaessary <br />fvnds tty pay tbe interest oa the foregeitig fsste of bcnds promptly <br />when ?n,nd as the same fa11s duei end $lso te provide a fund sutfl- <br />cient to diacharge the said ser:i.a], bonds W,: TMaturityt the: esha11 <br />be and is hereby levied on all tmxable property in the Yial.age of <br />North Olmstedt in addition to a1l other taaces a direct tax annual,],y <br />durisig the gericd aaid bonds are to ruxt,, in an amount st:f'ficient to <br />prov3dea tutuls t+a pay the interest npon aai.d bonds as and when the <br />Bame shali Pa31 dues and aleo tQ pmvid? a fmd for the d#.saharge <br />of the princ3.pgl, of said seria-f bansis at maturity„ wh3cla tax sha11 <br />not be less thari the interest and sizaking fund tax required by <br />5eetioA 11 of Article XII of tt,e Cvnstltution. Frov3deds ioweverl, <br />that in each year that the assessrnents anticipated YY{?y said boncis <br />are payab1e and sre applicable tca the p$yment of szch 3.nterest and <br />pr3ncipal and are apprapriated fQr such gurposes the amount af <br />such tax aha].1 be reduceci by the amptuut of i',hs aaeessment so <br />appropristed. <br />Sai d tax shg11 he and is hereby ardered camgutedy cexti•• <br />fied.p levied and eactended upon the tax dupZ:Lcate and col.J.ected <br />by the same officersi in the sam manner and at the eaue tim <br />that taxea for general purpvaes Par eaah of sa3d gdars are certi•• <br />x'iedj extsnded and collected. Said tax sha11 be pl.aczed bet'ore <br />and ia FrePerance to all other iteurs and Por the Yu1l amaunt <br />thareaf. The funds derived from said tax laviea here6y x*equired,
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