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•. ~' <br />• <br />Section 6. All assessffients collected for the improvement afore- <br />said and une~ended ~balaace retoaaining is the fund after the cost and eacpense <br />of said i.mprove~ent has been paid shall be applied to the payment of said <br />note or notes and the interest thereon until both are fully provided for. <br />F17t: <br />3eeti® 3sid note car Hates shall first be offered to the <br />Treastarer ~-t e - ity and so many of the same as shall not be ta~s~t Eby said <br />City Treasurer shall be sold at private sale by the tty Auditor, but net. <br />for less than par sad accrued interest, a.nd the proceeds ~'roa such sal®, <br />except any pa'emit~m and accrued utterest Cher®on and the amount thereof <br />necessary far the payment of interest prior t0 the maturity of said Sete <br />or notes shall be paid into the proper fund and used for the purpose afore- <br />said and for ~ other purpose. Any premium and accrued interest and. the <br />amount necessary far the payment.of interest prior to their maturity shall <br />be transferred to the Sinking Fund to be applied in the payment of the <br />principal and iaterest.Aa said-Hate Qr notes is the manner provided by lux. <br />Section $ • Said note or notes shall be the full general obliges-- <br />tioas of t t~ Wirth 4].msted sad the full faith, credit sad revenue <br />of said City are hereby pledged for the prompt payment of the wale. The <br />par value to be received from the sale of bonds anticipated by said note or <br />Hates and amy ezcess fund resulting from the issuance of said note or notes <br />shall, to the esteat necessary, be used ©aly for the retirement ®f said note <br />or notes at maturity, together rri.th interest thereon, and is hereby pledged <br />for such purpasa <br />S,_,~tion, Ia the event that such assessments are not levied <br />or bonds are -aa-t -~ssusd to provide a fund f®r the payment of said create <br />or notes at maturity, a general tax shall be levied against all of the <br />property of said City for the payment of said note or neaten sad the <br />interest thereean <br />Sec` 'ti4n ].p. The City Clerk is hereby directed to forr~rd a. <br />certified a4py ®~' t s ordinance to the County Auditor. <br />Se:cti a .:~ This ordinance is hereby declared to be an emer- <br />gency measure ~ -tae - emergency being that it is necessary for the i~e~date <br />preservation of pablic health, peace, safety and xelfar®, and to bearreax <br />money immediately for the necessary improvement of a City street that <br />this ordinance be passed at ont~e and shall take effect and b® in farce <br />and effect from sad after its passage. <br />PASSED: October ~ , 1957• <br />ATTEST::. <br />_ ___ <br />~. istmans erk o tuna <br />APPROVED:: <br />t~har ea . ~ rein, ~ yi~F <br />r <br />ert ~ ~ ec er- , - - es ent <br />of Council,. <br />a~~~~ <br />