Laserfiche WebLink
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 />