Laserfiche WebLink
<br />Sectio All assess~aents collected for the improvement afore- <br />said and une pebalance remaxiing in the fund after the cost and <br />expense of said improvement has been paid shall be applied tm t1~e gay- <br />ment of said note or notes and the interest thereon until both are fully <br />provided for. <br />Section Said note or not®s shall first be offered to the <br />Treasurer off- t e~ ty and so many of the dame as shall not be taken <br />by said City Treasurer shall be sold at private sale by the City Auditor, <br />but not for less than par sad accrued interest, and the procee#es from <br />such dale, except any premit~ and accrued interest thereon and the amount <br />thereof nec®ssary for the payment of interest prior to the maturity of <br />said ante or notes shall be paid into the proper fund and used for the <br />purpose aforesaid and for no other purpose. Any ~emum and aacru~d <br />interest and the amount necessary for the payment of interest prior to <br />their maturity shall be transferred to the Sinking F`uad to be applied <br />in the payment of the principal and interest on said note or notes in <br />the manner provided by law. <br />S~ct~o ~ Said note or notes shall be the fulls general <br />obligations ©f t~ity of Forth Olmsted and the full faith, credit and <br />revenue of said City are hereby pledged for the prompt payment of the <br />same. The par value to be received from the sale of bonds anticipated <br />by said note or notes and any excess fund resulting from the iasu$nce: <br />of said note or notes shall, to the extent necessary, b e used aaly <br />for the retireffient of said note or notes. at maturity, together with <br />interest thereon, and is hereby pledged for such purpose. <br />Sect. oa 9. In the event that such assessme.ttts are not levied <br />or bonds ar-e not sued to provide a fend for the payment of said mote <br />or notes at maturity, a general tax shall b e levied against all of the <br />groperty of said City for the payment of said note or notes and the <br />interest thereon., <br />S, ec~ion 10 a C~.ty Clerk 3.s hereby directed to forward a <br />certified copy i~s ordinance to the County Auditor. <br />3c~ig~a,,l l ,This ordinance is hereby declared to b e an emer- <br />gency meast~re~~ , tine emergency being that it is necessary for the 3~edliate: <br />preservation of public health, peace, safety and welfare, and to barrow <br />money immediately for the necessary improvement of a City street that <br />this ordinance be passed at once and shall take effect and be is force <br />and effect from and after its passage. <br />PASSED:: Dee ember .6 , 1955• <br />ATTEST:. <br />,~ er <br />- of eil. <br />~PPF O~TE D:z <br />ar e$ . . s yoF <br />.~ <br />\`~ <br />I <br />