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ORDINANCE N0. .'~ a~ <br />BY: Mr. ~,~.~~cv?/ AI~~ ORDINANCE TO AMEND SECTION 4 OF ORDINANCE <br />N0. 2056 ENTITLED ttAN ORDINANCE TO PROVIDE <br />FOR THE ISSUING OF NOTES IN ANTICIPATION. OF <br />THE LEVY QF SPECIAL ASSESSMENTS AND IN AN- <br />TICIPATION OF THE ISSUING OF BONDS IN ANTICIPA- <br />TION OF THE COLLECTIaN OF SPECIAL ASSESSMENTS <br />FOR THE IMPROVEMENT OF W~'" .ESLEY AVENUE <br />FROM ELMHURST ROAD TO BRO~BOURNE ROAD., BY <br />CONSTRUCTING THEREIN A WATER MAIN. <br />BE IT ORDAINED BY THE COUiJCIi, OF THE CITY OF NORTH OLMSTED, <br />STATE 4F OHIO:. <br />Section 1. That Section ~ of Ordinance No. 2056, passed <br />October 19.195 ,-which reads as follows: <br />t~Section 4. That such anticipatory note or notes in <br />the amount aforesaid shall be issued bearing interest at a <br />rate not exceeding four per cent (4~~ per annum, payable at <br />the maturity of said note or notes; said note or notes shall <br />be dated as of the date said note or notes are sold, and shall <br />mature on April 1, 195b; such note or notes shall be executed <br />and delivered in such manner and such denominations as may be <br />requested by the purchaser of said note or notes ", <br />be amended to read as follows: <br />Section ~.. That such anticipatory note or notes in <br />the amount aforesaid shall be issued bearing interest at a <br />rate not exceeding four per cent ~~.~) per annum, payable at <br />the maturity of said note or notes; said note or notes shall <br />be dated as of the date said note or notes are sold, and shall <br />mature on or before one year after date;,. such note or notes <br />shall be executed and delivered in such manner and such denom- <br />inations as may be requested by the purchaser of said note <br />or notes. <br />Section 2. This ordinance is hereby declared to be an <br />emergency measure, the emergency being that it is necessary for the <br />immediate preservation of public health, peace, safety and welfare, <br />and to borrow money immediately for the necessary improvement of a <br />Gity street and for health purposes and fire protection, wherefore <br />this ordinance shall become effective immediately upon its passage <br />and approval by the Mayor. <br />PASSED:. ~~~`'~ /h ,~' y, / f"' <br />ATTEST <br />__ <br />E. G istman, C erk of Council <br />APPROVED: <br />.~~~'" -~ <br />Gi~p3~~~-B` -~ew~s- der <br />E. W. Baumgardn Acting Mayor <br />Pr ~s a~ga~rc~ner; -President <br />-ef -Bor~nct~ <br />Ralph G. Neubauer, President <br />Pro Tem <br />J~~ <br />~1 <br /> <br />~~ <br />