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<br />GY-3,33 ' <br />• <br />• <br />_2s <br />4kas Hond Aetirsnent runrl to De afflied tv the gayaeat of the psiacipal aad intertst <br />of said nDter in the manner provi6ed by 1e?M. <br />Section 7. Said notss shall be the f'ull warsal oblilption of the City o! Not'th <br />Olmted and the full faith, credit sad xvvtaw cif WtiQ City are hereby pledpd !e= the <br />pzroot Paymat of the samn . S!e psr value to be t°sftivsd f rom the salt ot the bon3a <br />eatiafpated by said notea and aqY excess fund YwultLoi f2em the issuaace of sai,d <br />not" ahal1, to the exteM necsssarry, be used oaalr for the retirtaent of said notss <br />at maturity, together with intereot ther*oa, aticl is hereb7? pled6ed for such purpose. ? <br />Seetiorx 8. During the per°iod while such notes iva there ahall be leriid on <br />all the taxwble property in the City of lforth Q3M1*d, ia additioa to aLl ot.her tams, <br />a clirect tax aaaually not less thwii t2ut vhich wuld bave been ls'!'ied it boaxis hAkd <br />beea issued vithaut the prior issue of such rntss; prorided, t.hat the anouat of such <br />tax shm1.1 be reduced to the extent that aurplus saruinp of the aeMezage aystws <br />shal,l be availsble and apgropriated for the pnymnt of interest aad pY'incipal ot <br />esuch notee or oP the boffis aaticipated ttereby. <br />3ection 9. It is hereby deteimineci t1A all sctf, conditions aad thinP <br />required to be done precedent to and in the issusncO of said n4tesp in or3Ar to <br />malr,e them leBal, valid e?nd binling obligwtions ot the City cf North Qlus'twd, han <br />3appened, been dona and, psY`lbimed in reQulsr aad aue lom e?s required by Lw; wnd <br />tYat the amount of indebtedness tD be incur'red by the itsuance of said notes does <br />not excced any limitation of izxiebtednesa or taxation, either etatutory or con- <br />stitutiona.1. <br />3ection 10. This ordins.nce ia hereby declasyd to be aa ea?eY'6enc3' msasur* <br />xecesaary for the immediate preservntion of the public pea,ce, heslth aal safety <br />of said City by reaaon of the fset that the p=uWt const=uction of the impavm- <br />ments to be finsnced by said notea is esaential to pY+oride sanita?Y'y serreraW <br />facilities essential to the health of the City and the inhabitants thereof; <br />srherefore, aaid ordinarace shall go into imnediate ePfect upon ite psssage ancl <br />approval. <br />Passea 1r::?. 1964 <br />?. v ? .. { <br />Ap.F,1,,,u0,-ti 1964 <br />s <br />? • <br />.? a..?•. - <br />F'reai en o Counci <br />Atteet <br />erk #? Counc il <br />1 <br />; ,..