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Section 5. That all installments of said assessments and all <br />portions thereof, together with interest thereon, shall be applied to <br />the payment of said bonds and interest as the same shall become due <br />and to no other purpose whatsoever. In the event that the amount of <br />bonds required to be issued for said improvement shall be reduced by <br />the cash payment by the property owners in accordance with the option <br />ind;l.uded in the assessing ordinance, such reduction shall be accom- <br />plished by reducing all of the serial bonds hereinabove provided far so <br />as to retain substantially equal annual maturities. <br />Section b. The Clerk is hereby directed to have said bonds <br />and coupons properly prepared and executed, to sell the same and to <br />deposit the proceeds in the <br />load Water Improvement Fund <br />Improvement Fund - ~~., 200.Oi <br />ment Fund - X16,100.00, for <br />improvements not heretofore <br />which purpose said money is <br />City Treasurys to the credit <br />Tdo. 2 - 3 $,900.00; the Coe <br />~; and the Whitehaven Avenue <br />the purpose of paying the c <br />provided to be paid by said <br />hereby appropriated. <br />of the Porther <br />Avenue Wate r <br />Y,~ater Improve- <br />~st of said <br />City and for <br />Section 7. That said bonds shall be first offered at par <br />and accrued interest to the Treasurer and Officer in charge of the <br />Sinking fund and if said Treasurer or Officer refuses to take any ofl <br />all of said bonds, then said bonds not so taken shall be advertised <br />for public sale and sold in the manner provided by law but for not <br />less than the par value and accrued interest. <br />Sec~ttion $. That this ordinance is hereby declared to be: <br />an emergency measure, the emergency being that it is necessary for <br />the immediate preservation of public health, peace, safety and welfare <br />and to provide for the sale of bonds, the proceeds of which shall be <br />used for the payment of notes heretofore issued, and that this ordinance <br />be passed at once and shall take effect and be in force from and after <br />its passage. <br />PASSED.: August ~' , 1956. <br />! ~ ~ <br />ATTEST <br />.~° <br />F N~~ Christman, Cler of CQUncil E, W. Baumgardn President <br />APPFt01f&EED :: <br />~~ <br />Charles B. Lewis, Mayor <br />of Coun ~. . <br />~ b ~, <br />t~ <br />~f,/~~( ~ ~,,, <br />i <br />~.,~~: <br />