Laserfiche WebLink
.? <br />. <br />ORDINANCE N0. ?Jli" ZQ? <br />l^?? AN ORL?T.IdANCE AMEliPT^", ;717ONS 2, 4 ANL) 7OF <br />/ ORDINANCE NO. 65-217, "ASSED SEPTEM'3ER 2"'-, <br />? yc? ?? AtJ''HORIZING 'F?' T SS1.?ANCF OF •?'I23, 4` %? <br />SECQND MORZGAGE SEWEF,?GE JYjTEifl, FMTN'.JE, <br />BONDS, SO AS TO DESIG'`IA`t'E THE NA'ITIONAL CI`?''f <br />BANK OF CLEVELAND AS `IRUSTEE, cM CHATiG^ I-!TE <br />DATE AND CERTAIN tYil-ER I'ERMS OF SAI?: <br />AND DECIrA.RING AN EA'ERGENCY. <br />BE IT ORDAINED by the Council of the City of North 0.1^wted, C1Lyahoga <br />County, Ohio: <br />Section 1. Mat Sections 2, 4 and 7 of Crdinance No. 6)5-217. Passed <br />September 22, 1965, Which e?uthorized the issuance of $123,CQ4 oecond <br />? <br />Mortgage iewerage System Revenwe Bonds, be and the same are herebti amended <br />to read as folloWS: <br />- "Section 2. Terms of Improvement Bonds. The Improvemsnt <br />Bonds ehall be initially issued in coupon or fully registered <br />form as mey be reQuested by the FYsca1 Officer and shall be <br />exchangeable for fully r"e8istered or coupon bor.ds i.n the manner <br />and on the terms provided in the Nbrtgage. The Improvement Bonds <br />in coupon form sha11 be dated August 1. 1966; shall be in the <br />denomine?tion of One Thouse?nd Dollars ($1,000) each; and shall be <br />registrable as to principal; The Improvement Bonds in fully <br />registered form shall be in the denomination of $1,000 or any <br />multiple thereof. Improvement Bonds in both coupon and registered <br />forn ghall be numlxred as determi.ned oy the Fiscal Officer. The <br />Improvement Bonds shall bear interest at the rate per annuni of four <br />and one-quarter per centum (4-1/+1,6), such interest to be payable <br />Semi -annually or. June 1 and December 1 of each year beginr.ing <br />December 1, 1968 on bonds maturing in the years 1970 to 1985, inclusive, <br />and beginning December 1, 1969 on bonds naturing in the ;rears 1986 to <br />1990, inclusive, until the principal sum becomes due and payaole. <br />Said Improvement Bonds shall mature annually on December 1 in their <br />consecutive numerical order as follows: <br />ANlOjNT YEARS <br />91000 1970 to 1974 <br />5,000 1975 to 1979 <br />(,ppp 1980 to 1983 <br />7)000 1q84 to 1986 <br />• g?ppp 1987 to 1989 <br />9,000 199° <br />The Improvement Bonds shall be subject ttn intwh?oate on and <br />or in part in inverse num?erical order on any interest naY? <br />after December 1, 1969 at par plus accrued in:.erest to the date f'ixed Yor <br />redemption. Unless vaived by the rolder, notice of redemption specify'ing <br />the numbers oY the Improvement Bonds and (portions of fully registered <br />Improvement Bonds) to be called shall ce published by the Trustee on <br />behalY of the Municipality once a week °or tvo consecuti.ve weeks in a <br />financial joiirnal of national circulation, tnf ??irst??io ?-?otthe dateof t <br />?? t?n fort,y (?+0 ) nor les s than thirty (30) y_ <br />redemption, upon Which date al.l interest upon the Improvement Bonds or <br />portians thereof so called stuill cease except for thos?tas?ft?hehredemption <br />i deYault shall be made, upon presentation, in the payme:? <br />price. <br />Yrincipal and:interest on the Improvement F3onds shall be payable at <br />the principai office of the Trustee hereinafter provided for, except that <br />interest on ful.ly registered Imnrovement Bonds shall t3e payable by check <br />or draft as prorided in the Nfortgage. <br /> <br />?. <br />.. .,? _ ..,..»..- ._ ....,... .... -.?,. . ,...:....,.s:vs:.. _ . .