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2535 Ordinance
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2535 Ordinance
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Last modified
2/3/2014 10:11:14 AM
Creation date
1/27/2014 5:13:44 AM
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North Olmsted Legislation
Legislation Number
2535
Legislation Date
8/20/1957
Year
1957
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ORDI~iA~1CE H0. ~? ~- 3 <br />BZ :: dir. A1T ORAtl~lt CE &Y?$~tDI~G T Md T~JRI Z? ©F <br />~" d CERTQIH MOTE &BRBTOFORI~ ISS~D BZ <br />TiiE CITT. <br />WHERTryI.S the Council oa the 19th day of Juae, 1956, duly Passed <br />Ordiaaace Ho. 231, entitled "An Ordiaaaee to privide for the fasuiag of <br />notes is aaticipatios of the levy of special aaaessmeata sad is aaticipa- <br />tioa of the issuing of houia is aaticipatioa of the collectioi of apeeial <br />aaseasaeata for the improvsmeat of Ca-luml~ia Goad Eros Lorain Rani to I+hta- <br />tick load, by coastructag sad iaatalli>~; a five foot concrete p~rlic <br />sidewalk oa the easterly aids tberedte r~hich erdiaasee in ,pr ®vided <br />for the issnaace of sofas of the City.~a the principal suit e~f~19,6AA0.00 <br />to provide farads for the aatallatio of a five foot coacreter ipabl~.c <br />sidewalk oa the easterly side of .said Colada Road is said o ce <br />descritie~l, said sofas to hear iatereat at a rate sot ezeeed~a 2-1 <br />per aanu#, payable at the maturity of said sofas, to lie dated the icy of <br />delivery to the purchaser thereof sad to mature one year trot the date <br />thereof, sad <br />WAS, purauaat to ash authorisatica sash sots was is f ct <br />issued, date! Amgust 3, 195b, tiearag interest at the rate of 2-1/ per <br />aaa~t sold. pursuant to law sad delivered to the puarchaser '~'khs liatioaal <br />City ~tak of Cleveland, sad the proceeds reeeived sad appl~ed to the p~ar- <br />poses for which the sale was isauel, sad <br />WltFREAS, uaezpected amt uaavoidatile difficulties have arises <br />to prevent the completion of the impn-vemeat mentioaei. i# the bate aa- <br />ticpatet, the leery ®t apeQal asaeasments to pal7 the coat thereof, sad <br />the iaauaace of Troads is anticipation of the collection thereof', with <br />the proceeds of which said notes are. ultimately to tie paid, sat <br />~1I'ISRR11~, ?he National City Bask of Clevelaat as the holder of <br />said note has requested and weed that .the maturity thereat aha3.1 be <br />e~ctemded to the l5th day of ~tovember, 1957, said ante to bear interest <br />at the rats of 2-1/4~ per ann~ during the period of sash further exten- <br />sion, payable at the maturity as e~ctegded. <br />bit~T, THE~FE?~ BE IT ORDAIHFD BZ T2LT COtIHCIL OF Tt!~ CITZ OF <br />HORTIi OL1tS'1'~D, S'~AT$ OF bx20: <br />3e~t. ~i 1„~ What the maturity of said ~t® of the City of <br />bIorth Olmsted, fo, I~eretoi'ore issued iz aecor ee with th+~ err+~.aaaee <br />hereisbefore set forth is the a~reaate sm~ of 19 ~4.A~i, ltaviiy; base <br />dated sad ins ed the 3rd day of AHusut, 1956, bear~.aa atsrest a~ the <br />rate of 2-1/$ per aaamm payable use year from. the date ®f ssus~ce by <br />agreement of the parties thereto which sate is now held by the ~t#oaal <br />City Barak et Cleveland, be sad tie same is flier e~cteaded tQ the 15th <br />day of Hoveaber, 195?, said ante to bear dur4.ag sash f er per3.ad of <br />ezteaded life sad maturity interest at the rate of 2-lt~er ax~nmr <br />during the period of sash ezteasioa, payable at the maturity as eateaded. <br />t 4 2 That the Clerk be sad he is hereby a~tth@rised sad <br />diredted to ma a she other sad .further arraasemeats wii~h ?he Yati~-a1 <br />~' Cit~- Hank of Cleveland sot iaco siaeat with this ordinaade sad thmm laws <br />of the State of Ohio rela~.ag thereto as shall be aeeeaaary to earry <br />out the provisidas hereof, to forward a certified copy of this 0rei3,~taace <br />to The National City Ha pit of Clevelaad for iaelusios is the 1~ramsapts <br />of the proeeed3asa relatia; to the iaauaaae sad sale of said orit,#.aal <br />sots tb said bask, a~ui further, to forxard a certified copy hereof to the <br />Auditor of ~q/ahoga Ceunty. <br />?hat this Ordiiasce sad the aub~est Witter thereof <br />be sad the Yh, -ar' e'#'hereby decla;'ed to bs an smerseney meas~e .this the <br />proisi~ts 0f tote lax_ oP the mate of ©hio relating. thereto, edately <br />aecesaary fir the ~reserlratiou of the. public safety sad weltape, for the <br />~, <br />- 1 - <br />
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