oRDINANCE No. ~ ~'
<br />BY :: ~Zr. ~'{~.+. ' ~ . AN ORDINANCE TO PROVTDF, FOR THE ISSUANCE
<br />OF BONDS ITJ AIJTICIPATION OF THE COLLECTION
<br />0~' SPECIAL ASS--~;SSi~~NTS FO:ft THE ITy~iPROVET~~,TuT
<br />OF PORTER ROAD FROTYI END OF EXISTING t~ZAIN
<br />NOi~THERLY TO NORTH CITY LINE; COE AVENUE,
<br />ITS ENTIRE LENGTH; WHTTEHAVEN AVENUE FROTJT
<br />ELMHURST ROAD TO BROXf30URN ROAD, BY CON-
<br />STRUCTING WATER ~IATNS THEREIN.
<br />BE IT ORDAITJED BY lTiE' COUNCIL OF THE CITY OF NORTH OLT~tSTED,
<br />S~'ATE OF OHIO:.
<br />Section 1. That for the purpose of raising money in an-
<br />ticipation of the collection of special assessments for the improvement
<br />of Porter Road from the end of the existing main northerly to the north
<br />City line; Coe Avenue, its entire length; Whitehaven Avenue from Elmhurst
<br />Road to Broxbourn Road;, by the construction of water mains therein, in
<br />accordance with Ordinances No. 2122, passed on the 11th day of April,
<br />1955;° No. 2235, passed on the 6th day of December, 1955;; end Tao. 219$,
<br />passed on the 6th day of September, 1955, respectively, bonds of the
<br />City of North Olmsted, Ohio, shall be issued in the amount of X59,200.,00
<br />to pay notes previously issued and now due and payable.
<br />Section 2. Said bonds shall be signed by the Mayor and Auditor,
<br />bear date of September 1, 1956, and shall be numbered and be due and
<br />payable as follows:
<br />Date of I~Taturit~
<br />Numbers
<br />Amount
<br />October 1, 195$
<br />October 1, 1959
<br />October 1, 1960
<br />October 1, 1961
<br />October 1, 1962
<br />Octo'oer 1, 1963
<br />Octo'oer 1, 1961
<br />October 1, 1965
<br />October 1, 1966
<br />October 1, 1967
<br />1_ to 5 Inclusive
<br />6 to 11
<br />12 to l7
<br />1$ to 23
<br />2~. to z9
<br />30 to 35
<br />36 to ll
<br />1a.2 to 1,.7
<br />~$ to 53
<br />5~ to 59
<br />5,200.00
<br />6,000.00
<br />6,000.00
<br />6,000.00
<br />6,000.00
<br />6,ooo.oa
<br />6,000.00
<br />6,000.00
<br />6,000.00
<br />6,000.00
<br />It is hereby determined that the above maturities are in
<br />substantially equal annual installments.
<br />Said bonds shall be of tn.e denomination o f ~~1,000.00 each,
<br />except bond No. 1 which shall be in the denomination of X1,200.00;
<br />shall bear interest at the rate of three per centum per annum, payable
<br />semi-annually on the first days of April and October of each year,
<br />beginning April 1, 1957, and for which the proper interest coupons
<br />bearing a facsimile of the signature of the Auditor shall be attached
<br />to and made a part of said bonds; provided, however, that if said bonds
<br />
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