2909 Ordinance - Laserfiche WebLink

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4- Section 4: That stsch aaticipatory note or notes in the anomnt of Ten Thousaud ?ollars (Wi0Q4.00), shall be issued bearing intere8t aot exceed- ing fola pereent (4$) Per ammwaj Ps0"able at the matvrity of said rote oz• xwtes, and said note ot notem shal1 be dated an of the date ssid note or aotes ars sold,, and shs1.]l, mature on OctobeT l,, 1964; suoh rtcte c>r ne3tss shaLt be eawcuted and delivered in swh manner aad 1a swh clsaominati.ons as a,Y be requested by the plarehaser of said nete or ruotes. Sectiou 5: The nAts or noteis heretofore re#'erred to shall be axecuted by the Miqor and City lnu3itor snd shall. bear the aeaL og the mmi.eipal eorpc?ration; they eha71 be payable at the affiee of ths National City Hanic of Cleveland* North 01asted Hranch ia the City af North Olmated, Qhic, ancl shall %ress upon t,heir face the ptarpose for which they are issued and that they are issued pvrsuant to thU Ox`dinance• SeQtion bs Saa.d note or notea ahall fiset be offered to the Treaaarer of the City and sa xazW of the sane as shall not be t.aloea by the City Treaatirer ahall be sald at private aale by t,he City Auditar but =or not ]ass thaa par and accrued interest., and the prcceeds from auch sale, eocaopt aiV premixmt aad accrued irrteraat thereoa sAd the amount there0f nscessary fer the paqmnt of interest prier to the maturity of said aote ar ru+tes shall be paid iato the proper fund and uaed on7y fcr the pvrrpose atoresaid and f'or ro at,har, Arq Premiw ani aocrmed interest in the aaiount rieceseary for the payment cf 3atearest prior to their matrwity sha.11 be traunsferred to the uinking Fund to be applied irt the payaeut of the pri8cipal and interest on said note or aotes in the mantaer provided by law. Se,ction 7; Said :aote crr nates shall be the full ganeral mbligatinn of the City of btorth 02mted agd tha fu17. faitht credit aad reveme of said City are here'try pledged for the prompt payment of fi,he same. The par value tn be raeeived i"rom the sale of bonds asti.cipated by said note csr actes and amy eaaeaa i'uud resv].titag from the isauame of said note cr notes shall tc the arztent necessarYs be used only for the retiremeat of eaid ncte or notes at maturity,, together wit,h 3.nterest therecns and is harebg pledged for ewh pvrpase. Section 8s During the year such n,ote is outstandixag there ahall be levied oa a1l the taaable property in the City of North Q3mstsd ia addition to all other taxess a direat tar aunttal,ly of not Isss than that wh#.ch wvulc3 hsve been levied if bonds ware i.ssued without the prior issuance cf said nate crr notes. Said t?ax shall be and is hereby ordered cemputsdj, certifiedp ],revied and aztended upoa the taa duplic$te and Qo].l.ected ly the ssmme officers in t.he same manner azid at the sam time that taxea fcr gawral purposes far eaah ef said ysars ars c+ertifieds extended and collect.ed. Said tax ahall be pl.aced before and ia prefarence to all other item and far the f'u1l amount thereof. The tunds dsrived fron said tax levies hereby requised sha11 be placed ixi a separate aad distinct fund# whichs together with the interest eo21ected on trhe samss shall be irreeocably p3.edged far the parseat of the prircipal and intsrest of said not,es or the bonds ia anticipatian of whi.ch theg are 3asnad when and as the sams fall due• Seetion 9: The City Clerk is hareby directsd to fcrrward a certi.fied capy of th3.s Qrdinanee to the Auditor of Cuyahoga Couatyp fhio. Section lA: This Qrdiname is hereby dec].aired tc be aa eawgency nessure necassary far the imediatre preservation uf the pnbli.c health., peace and satety of the City and wh3.ch emorgency eacists b3r vixtae aP the necessity of providirg fuacis for the iamdediate canstrt3ction of a partially fireproof Service Garage in the City Park for housir3g of City eguipmant and afford3ng apaee for the xa,intenanae of the ssme prior to w3anter weather. Seation lls Mherefores trhis Ordinanae adaall tatfle imadiate sffsct From and after its passage.. otherw3.se$ at the earlasst perimd allowed bg law. PASSED s ... ...a.a ._... ?, . ? ?. . A1iYM? ?...,. ? E• C t*anv Ulork o ouuG QI'PROVED• illadq ?? Pa J. aidaus c>r Ant i aht O t?G - 9 ?40V -1, 'P1 ?,? ' ,?? : • V,?, I