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CrTY OF pf~.TH t~ <br />RffiG~UTIt3B ~t0. ~3 <br /> <br />ItBT IBC M1lt1iRl'i'Y DATTB ff~' TSB ~BC$BB. Rt1AD <br />PA,YIIBi 1l1~ICIPATIaIt lTt~TB FSQi OC42 31, ]~8 ?© <br />A'PRIE~ 3O, 1959, ,~ ~CLAxI~ ~ ffiBtB~li• <br />~~ <br />~, the City has heretofore isstwd, its lT®te is the a~aoaat a! <br />~35,3oa.aa '~ The Itationa]. City Bask bearing interest at the rate of <br />and rich Sete matures fhttober 31, 1958, atoll <br />WSBREAS, 1t is deemed necessary to eartend the m$tsurity date of said <br />note to i~ril 30, 1959, and e~tsnsi.~ vial provide fez the sans itetersst <br />rate as the original ebligatiem, namely and €urther coeditiened that all <br />aeeraed 3,atsrest cfise Ooteber 31, 19rj~ bs paid in fall and 38tereat aoerdiog <br />after tiateber 31, 195, be paid an a quarterlf basis and that all etiwt condi.- <br />tions as to the original purahaae by The itatieual City Batik of said note, be <br />re-atfiraed. <br />Iit7kT, Tom, BB It RBSOLVSH by the Coa~sil of the City of Borth <br />C].~eted, Cotuety of Cuyahoga and State o! tahioz <br />Sectia~ is that the ens year bond atttleipation Hate held by the <br />Sational ~~in the fans aaount of $35,3 tins Aoteber 31, 195, 1®s sell <br />is hereby ea~teaded to aatnre 11pr31 34, 1959, with the sans amnca]. interest <br />rate of 2~ sae the original ebligatioa arxt the proeeeds of trhiah note ~ <br />used f ctr the imprc~v+essnt of Heetcar Road by the pavitag of the raoae sect that <br />the terms of the orf gittal purehase offer made by the Satienal City Bank otrt- <br />lined iri their letter dated 4stc-ber ?, 1957a be connived and to re~aitt 3a <br />etteet utatil said nets is paid, and f`nrther, that all aecrtaed intsFest duns <br />October 31, 1~8 b~ paid in full and interest tltiereaiter scanning be paid <br />071 a qua~rter]~r basis t~IIti]. the principal stns is paid. <br />Section 2: That the Clark be and is hereby sathori9rsd to tnrsiah <br />The ~tatio~~i~y~atak an attested copy of this resolution. <br />Section z That this Reaolatien is hereb~r determ:Lma-d to be as <br />e~msrg+s~ nssueare mse»ssarir for tl~e i~rediate pre~erratien of the pa~blie <br />~relfare of the City of Serth ©laated and sash emergensy a3.ats by virtue <br />of the aapiratios date of the origins]. one year ate~ticpatioa note sold to <br />The Satieaal City Bank for the imprevetasat of the Ifseber Road pa4img in <br />the princaipal adoemt of $35,3oO sad that said note having matured add the <br />City n©t yet baimg iae the position to pay said note, it is deteraiaed that <br />the eactension of said obligation to April 34, 1959, is for the bedefit of <br />said City <br />Sect3.en s T~herefare, this resolution sha11 take ia®edi~ate effect <br />frost and passage, otherwise, at the earlias't period alleasd by lax• <br />PAS ,~~~~ / / .1958 <br />ATTEST= _ ;,- <br />-~ <br />_ .__f~-C-~-e-~-~ <br />J <br />o s <br />Council <br />dPPR(NEat <br />I <br />'1 r <br />,~~ , d ~! <br />I~ <br />