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Section 4: That such anticipatory note or nolves in the amount aforesaid shall be issued bearing interest at a rate not exceeding four percent (4%) per annum,, p;ayable at the maturity of said note or notes; said note or notes shall be dated April 30,, 1959, and shall mature on or before December 1., 1959; such note or notes shall be exeeuted and delivered in sv.ch rrannsr and such danomin.a- tions as may be requested by the purehaser af said note or notes. Section 5: Said note or notes shall be executsd by the Mayor and the City Auditor; shall bear the seal of the corporation; they shall be pagable at the office of The National Cil-y Bank of Cleveland., North Olmsted Office, in the City of North Olmsted, fhio; theJ shall er.press upon their face the purpose for which they ave issued and that they are issusd pvrsuant to this ordinance. Secti.on 6: All assessments coll.acted for the improvemsnt aforesaid and unexpended balance remaining in the fund after the cost and expense of said iraprove- ment has been paid sha7.1 "r.e applied to the payment of said note or notes and the interest thereon vntil both are fully provided for. Section 7: Said note or notes sha_1 first be offered to the Treasvrer of the City and so many of the same as shall not be taken by said City Treasurer sha1.l be sold at private sale by the City Auditor., b.it not for lessthan par and accrued interest, and the proceeds from such sale., except any prem3.um and accrued interest thereon an.d the araount thereof necessary for the paynent of interest prior to the maturity of said note or notes shall be pai.d into the proper fund aAd used for the purpose aforesaid and for no other purpose. Any premium and accrued interest and the amount necessary for the payment of interest prior to the3r maturity shall be transfexred to the Sinking Fund and to be applied in the payment of the pr3ncipal and a.nterest on said note or notes in the manner provided Uy 7.aw. , general obligations of Section 8: Said note or notes shall be ?he fuLL the City of North Q]zasted and the full faith, credit and revenue of said City 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 or notas an:d any excess fund result- ing from the issuance of said note or notes sha11,, to the extent necessary, be used only for the retirement of said note or notes at maturity, together with interest thereon.. and is hareby p:Ledged for such purpose. Saction 9: In the event that such assessments are not levied or bonds are not issued to provide a fund for the paylnent of said note or notes at matvrityi a general tax shall be lev:i.ed against all of the property of said city for the payment of said note or notes ana the interest thereon. Section 10; Tne City Clerls is hereby directed to farward a certified copy of this ordinance to the County Auditor. Section 11: This ordi.nance is hereby declared to be an emergency measure., necsssary for the immediate presnrvation of public health, Feace., safety and welfare, and to borrow money imn.ediately for the necessary improvement of a City street that this or dinance be passed at once and shall take effect and be in force and effect from and after i-ts nassags. PASSED: JULY 71, 1959 r ATTyST : ?'. . a.stsnan? ci a p . aze ton3 i ent of ounci AwxPR ? s aul J. CAreau., Ilayor ?