68-184 Ordinance - Laserfiche WebLink

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.? _ 2 Section 7. A11 assessments collected f'or the improvement aforesaid and any unexpended balance in the improvement fund after al1 costs and expenses of such improvement have been pa,id, shall be applied ta the payment of said note and the interest thereon until both are fully provided for. Section 8. In the event tnat such assessments are not levied or bonds are not issued to provide a fund for the payrnent of said note at maturity, a general tax shall be 1.evied against all of the property in said City for the payment of such note and the interest thereon. A Section 9. It is hereby determined and reciteci that all acts, conditions and things necessary to be done precedent to and in the issuing of said note in order to make the same a 1.ega1, valid and binding obligation of the.City of North 0ltnsted have h.appened, been done ancl performed in regular and due form as required by law and that no li.mitation of indebtedness or taxation, either statutory or constitutional 10 will have been exceeded in the issuance of said note. Section 10. The Cl.erk of Council is hereby authorized and directed to for- ward a certified copy of this ordinance to the County Auditor of Cuyahoga County. . Section 11. This ordinance is hereby declared to be an emergency rneasure necessary for the preservation of the public peace, welfare a.nd safety of this City, and for the further reason that the ir:imediate issuance a.nd sale of the note herein authorized is necessary to provide funds with which to retire a, presently outstanding note and thereby protect the credit oF this City; wherefore, this ordiriance sha11 take effect; and be in force immediately upon its passage and approval by the Nlayor. Passed: (9 ? 1968 Attest; cX/ Fl.orence Holm, Clerk of'Council , ? -- Francis J. 0'Nei1.l;?president of Council ` Approved; l11(?/e.? 1ph E. Christman, Mayor e-6fur et,,