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sect 6. All assessstemts collected fmr, the improvement afore- said `i~nexpsaded balance remaining is the fund after the cast and expense of said improvement has boas paid shall be applied to the payment of said note or notes and the interest thereon until both are fully provided fora t Said ante or notes shall first be offered to the Treas~sr-®--the City sad so many of the same as shall set be taken by said City `Prea$urer shall b® sold at private sale by the City Auditor, bat for mot less than par sad accrued interest, and_the ~ceeds from such sale, except say premiuffi and accrued interest trerom and the aaotsmt th®reof necessary for the payment of interest prior to the maturity of said note or antes shall be paid into the proper f~,d !~ and us®d for the purpose aforesaid asci for mo other pur- pose.~ Asp prem3.m~ai sad accrued interest sad the affioust necessary for the psymamt of interest prior to their maturityshall be transferred:. to the Simkisg F`and to be a pplied in the payment of the principal asn.d interest da said note or motes is the manner provided by last. 3sid note or awtes shall. be the full, general obliga=- tions : ® - ~ ty _ of ~larth Olmsted and the full faith, credit sad revenue of sand City are hereby pledged far the prompt payment of the saffiea`~ The par va7.ue to be received ffrrom the sale of bonds anticipated by said. sofa or sofas sad .any excess fund resulting from the isseance of said n±ete or n®tes shall, to the extent nec®ssary, bs seed os].y for the retirement of said mots or motes at maturity, togethn~ with istere~~ thereaa, and is hereby pledged for such purpose. 3~-ctioa,-,Q~ In the event that such assessments are sot 1 evied or bom~a a -a®t issued to provide a fund for the payment of said note or sues at maturity, a general tax shall be levied against all of the property of said City for the payment of said note or notes sad the interest therec-a`` gec~,oa~0, the City Clerk is hereby directed to forward a certi a -ac~pp -4f this ordinance to the !Co zesty Auditor.'° Sc, - This ordinanme is hereby declared to be as :emer- gency :a ~~et t e emergency being that it ie necessary for tJ~e immediate preservation of public health, peace, safety and tlMi~t~"o, sad to borrow mosey immediately for the necessary improvement of ~. Ci'~' street that this ordinance be passed at Dace and shall take sYfect sad be in force and effect from. and after its passages PASSt~: N.l~rch ~_, 7.956• ATTEST: __- istman, . er o . .nunci APPRaVED:: ~._:_.. .2Z~~ _ ,~1c y~ Mayor rre$~e ~~"----o f Counc i 1.. 'b n ~ `~ 3~,3 ~~ li