2268 Ordinance - Laserfiche WebLink

Home Browse Search

3ectia~ All assessments collected for the i~nprovemeat afore- said aas~~unexpended bala8ce remaining in the fund after the crost and expense of said improvement bas been paid shall be applied to the payment of said note or notes and the interest thereon until both are fully provided for. 3ecti®n ' 3aid note or notes shall first be offered to the Treasurer o~~~ a City and so many of the saffie as shall not be taken by s~,d City Treasurer shall be sold at private sale by the City Auditor, but for not less than par arui accrued interest, aad..the proceeds from such sale, except any premier and accrued interest thereon and the amount thereof necessary for the payment of interest prier to the. maturity of said sofa or metes shall b® paid into the proper fund and used for the purpose aforesaid and for no other p~ar- pmse~ Aay pr+effiium amd accrued. interest and the amount necessary for the payment of interest prior to their maturity si~.ll be tra~neferred to the 3iaking Farad to be applied in the payment mf the principal and interest ms said note or n®tes in the manner gravid®d by lam'.' ct a $ 3aid-ate or cotes shall be the full, general obliga- tions~®~`~~ty _ of forth Olmsted and the full faith , credit aad revesme of said City are hereby pledged for the prompt payment of the same. The par rr~tlue to b® received from the sale of beads anticipated by said. note or neaten and any excess fund, resulting frmm the issnce of said amts or notes shall to the extent necessary, be use~t c~aly for the retirement of said nmte or notes at ~.turity, together with interest thereon, and is hereby pledged for such purpose. ct' on,~; In the event that such assessments are not 1 evied:: or bow s -are -smt issued to provide a fund for the payment of said note er notes at maturity, a general tax shall be levied against all of the property of said City for the payment of said note or notes ar~d t~ interest thereon° ct. ~ The City Clerk is hereby directed to_ fa-rt a~ certi.ie ~copy~of this ordinance to the County Auditor, 3e~„~,~_ 1~ This ordinance is hereby declared to be an e~er- gency :mea~.aare-f t'~e. emerg®ncy b®iag that it ie ffie~essary far- the immediate. preservation of p ublic health, peace, safety sad ~elfar®, and to barraa- ffioney immediately for the necessary iatprmv~-ment of a~ City street that this ordinance be passed at Dace and she 11 take effect and be in force and effect from and after its passage. PASSED: March ~._, 195b. ATTEST:. ~cw-- -. +~~1nG . ... e~4~ . - .. sfi~an, mf C®mr~cil,, APPROPED: Ga~s2~~-cl~ r ~~ ~.~ ~ 3~y, ~,,