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a <br />8ection 7. Subjcct to the rcjectioa of anid notes by the officer in charge of <br />the bcmd retirement fuad, caid notes are hereby nrarded and eold to The 1letional <br />City Banlc of Cleveland at the par vnlue thereoP; and the Directar of Finance is <br />hereby authoriscd and directcd to deliver said notea, when executed, to said <br />purchaaer upon paymnt of such purchase price. The proceeds of suah sale shnll <br />be psid into the proper fund and used for the purpoee for vhich ssid notee are being <br />isewed uoder the pravisions of thie or8lnsme. <br />9ection 8. Said notea shall be the Full general obligation of the City and <br />the f1i11 fnith, credit and revcnue of said City arc hereby pledged for the proaipt <br />peynent of the uame. The par value to be received fraa the sele o1' the bonds enticipatcd <br />by said notes and anpr oxcesa funda resulting fraa the iseuance of said notec chall <br />to the extent neccssary be used only for the retirearent of said notcs at mturity, <br />togrtber with intcrcat thcreon, and are hereby pledged fvr such purpose. <br />8ection 9. In the event that such esasesssents sre not levicd or bonds arc not <br />of eaid notes at maturity, a genersl tax <br />isaued to provide a fund for the <br />P=ft <br />sbsll be levied age?inet all of y in esid City for the paymeut of such <br />notes and the intcreat thereon. <br />8ection 10. It ie hereby deteraiaed that al1 trcta, conditione and thinge <br />required to be done precederrt to and in the iesuance of said notes in order to make <br />the seme legal, valid and binding obligstione of asid City of Iforth Olssted hare <br />luppeaed, becn done and performed in regular and due foro ae required by ]aN; and <br />ttat no liaitatioa of indebtedness or taxation, either statutory or constitutional, <br />has been exceeded in the iasuance of said ootes. <br />9ection 11. Thc Clerk ot Council is hereby directed to forwsrd a certified <br />copy of thia orrlineace to the County Auditor. <br />8ectioa 12. Zhis ordinance ig hereby declared to be an energency niessure necea- <br />sary for the imediate preaervstioa of the public pesce, health nnd aafety ot the <br />City, and for the further rcason that prampt provision of ftulda is required to <br />proceed vitb the construction of a ti+e?tervorks improvement neccesary for fire protection <br />and the health of the abutting rnmers and itfhsbitants of the City; nherefore, thie <br />or8iffiace sha11 be in full force and efPect fraa and imediately after its psssege <br />and appraval by the Mqyor. <br />Pasned: , 1964 <br />Attest: <br />lerk of d5iiic-il <br />Presid-ent o ounc <br />, 1964 <br />PPrv??e <br />Waydr <br />2