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/ <br />G(f-330 <br />0 Ssction 3. 3aid bondi sMll be o"cutot by the llkyor aad Ddrector oi FiaaaM, <br />oae ot vhose sisaatnres ar?y be • lacsiaile, aad sbrll bear the oorlonto Nal ot ssil <br />City. Intsrest coupoas attacMd to raid 1oadi sLall bear tlo facsi=ile sigastver af <br />the Director of Fiaaaae priwtod or litbogralirod tbsr?at. 'Pbey slall be cUsigaat.ed <br />"Sswr Iorowrat AsNSwMat Doads" aad sba11 be Payatile i° 1°dul m°aa7 ot the <br />United 3tatss of Arrioa at the aain oitiee of TM fttional City Daak of Clsnlaad, <br />Cls"land, Ohio. <br />Sectioa 4. Pbr thw purpoN ot par'oviding the neaeswry funds to pay the inttsoot <br />on the foregciag issw of bonds prouptl.y vben and as the wt talls dus, and alm to <br />pzovida a fwad sufticient to dlscharge the "ii Nrial bonda at rturity, there shall <br />be and is hereby loviod on all taucable propertY in the City ot lforth OLsted, in <br />addition to all other tauas a direct tax annwally dnrin6 the period said bonis are <br />to rua in an enouat sufficient to parovide fwada to pay the iaterest upon ssid loo" <br />;s and vhsn the Nr lalls dw, and also to providA a luad !or the diacbarse of the <br />priacipal oi said serial bouds at ai?tiu'it7, vhicb tac sha11 mt bs les• tban <br />the interest and ainting fuad taz re4nired ly 3ectioa 11 oi Artiele YII d the <br />Cbnstitution of Ohio. Provided, boMever, that ia *aeb y+ar that the asNSsoats <br />anticipated by said bonds are awiLble for the pqraeat of sweb bods and ai'e <br />aP'ProPQ'iated !or suab pnrpoN, the amount eT suah tax stall be rsduced by tbo <br />aacunt of tbe asNSsaent so appropriated• <br />Section 5• Said tax aha11 be aad is hereby ordered caapnted, certilied, lwied <br />and exterdtd upon the tax aoplicato ud collected by t.bs omM ottictrs, in the sumt <br />aanner wnd at the sam tlae tbat taxas for general purpoNS ter saeh of wid rars are <br />certified, extended and collected. 9aid tax shall be placed before aad.in Wafertnoo <br />to wll other itess and for the htll smownt t,heroof. T!e fands deriwd =rm said tax <br />levies herebr required shall bs plae" in a ee}uato asd distiact luad, vhieh togetber <br />vith the iaterest collected oa the same sba11 be irrovecwbly pledged !or the payont <br />oi the interest and priacipal of said bonds v?ben and aa the we fall due. <br />Section 6. That ell instywl]mats of se.id seNSVents ead a11 portions tboreoi, <br />togetber vitb intereet therson, shall be applied to the psyatnt of said bonls and <br />interest ns the eaae ahall becem clw uA for no other purpoN ehateotver. <br />Section 7. Said boncis stull be firet otfertd •t par aad accrued intsrest <br />to the ofYicer baving charge of the Bond Retirestnt !'utd in his official capacity, <br />and if eaid officer reSuseB to taln any or all of maid bonds, tben ssid bonda <br />not so taYsn shnll be advertised for public sale aad sold in the manner proKded <br />by lav. ThQ proceods fraa the wle of ssid bonds, tzcept the preaium and accruM <br />intereet, slull'be us+d for the purpose eforosaid and for no otber purpose and <br />be nllocated to the inproveasnt herein deacribed. <br />ID The preaium aad accrwd iaterest receiwd fraa such sale ehall be transferrsd <br />to the Bond Retireawnt lhuA to be appliod to the paymnt of the princpal end <br />intereat of said bonds, in the annmer provided by lav. <br />Section 8. The Clerk of Council is hereby autborized ani directed ta certity <br />s copy of thi8 ordi:wnce to the Auditor of Cuyshoga County, Ohio. <br />- 2 -