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Section 5: Said note or notes shall be executed by the Ma,yor and the City Auditor; shall bear the seal of the corporation; they shall be payable at the office of The National City Bank of Clevelands North almsted Off'i.ce., in the City of North Qlmsteds tahio; they shall expreas upon their face the purpose for which they are issued and that t,hey are issued pursuant ta this ordinance, 5ection 6: All assessments collected for the improvement aforesaid and unexpendsd balance remaining :in the fund after the cost ancl expense of said improve- ment has been paid shall be applied to the paym+ent of said note or notes and the interest thereon until both are fully provided for. Section 7: Said note or notes shall first be offered to the Treasurer of the City and so many of the same as shall not be taken by said City Treasurer shall be sold at private sale by the City Auditor,, but not for less than pa.r and acerued interest, and the proceeds from sueh sale.. except any premium and accrued interest thereon and the amountjthereof necessary for the payment of interest priar to the maturity of said note or notes shall be paid into the proper fund and used for the plrpose aforesaid and for no other purpose. Any premiun and accrued interest and the amount necessary for the payment of interest prior to theis maturity shall be transferred to the Sinking Fund arxd to be appl3.ed in the payment of the princigal and interest on said note or notes in the mannar provi.ded by law. Section 8: Said note or notes shall be trh.e fu11, general obligations of the City of Idorth (7]ansted and the full faith.. credit and revenue of sald Citv are hereby pledged for the prompt payment of the same• The par value to be received from the sale of bonds anticipated by said note ar notes and any excess fund resulting from the issuance of said note or notes shall, to the extent necessary., be used only for the retasemerst of said note or notes at maturity, together with interest tnoreon, and is hereby pledged for such pvrpose. Section 9: In the event that such assessmsnts are not levied or bonds are not issued to provide a fund for the payment of said note or notes at maturity., a general tax shall be levied against all of the property of said City for the payment of said note or notes and the interest thereon. Saction 10: The City Clerk is hereby directed to forward a cextified cogy of this ordinance to the County Auditor. Section ll: This ordinance is hereby declared to be an emergency measure, necessary for the immediate preservation of pbtelic health$ peacel asfety and wslfare., and to borrow money immediately for the necessary ftpstraatL+lsn of ai4xa,ge Qallection system and s ewage treatment p].ant, that this ordiname be passed at once and shall taba effect and be in force and effect t'rom and after its psssage. PASSED : July ;r, 1959 ATTEST: ., is man, r o oune i APPROVED: Pa 'Ji` Gareau., Mayor > , aze ton, .e en o ounci ? ? ?