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ORDINANCE N0. ~ a ~ Gy <br />BY : Mr. <br />~~~-~Y~-~:~~_~ AN ORDINANCE TO AMEND SECTION 4 of ORDINANCE <br />N0. 2039, PASSED SEPTEMBER 7, 195, ENTITLED <br />nAN ORDINANCE TO PROVIDE FOR THE ISSUING OF <br />NOTES IN ANTICIPATION OF THE LEVY OF SPECIAL <br />ASSESSMENTS AND IN ANTICIPATION OF THE ISSUING <br />OF BONDS IN ANTICIPATION OF THE COLd.ECTION OF <br />SPECIAL ASSESSMENTS FOR THE IMPROVEI~~IENT OF <br />ROOT ROAD FROM END OF EgISTING MAIbT. TO A <br />POINT 1203 FEET NORTHERLY, BY CONSTRUCTING <br />THEREIN A U-i't1TER IvIAIN. rr <br />BE IT ORDAINED BY THE COUNCIL, OF THE CITY OF NORTH OLMSTED, <br />STATE OF OHIO: <br />Section 1. That Section ~. of Ordinance No. 2039, passed <br />September ?, 1954, which reads as follows:. <br />"Secw .. 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, 1956; 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 a.oresaid shall be issued bearing interest at a <br />rate not exceeding four per cent (1J.f) 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 or <br />notes. <br />Section 2. This ordinance is hereby declared to be an <br />emergency measure, tie 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 <br />a City street for health purposes and fire protection, this ordinance <br />shall become effective immediately upon its passage and approval by <br />the Mayor. <br />PASSED: November 3, 195. <br />ATTEST: <br />E. Christman, er -- of Council <br />APPROVED: <br />~~~ ~~~~ <br />C arles B. Lewis, Ntayor <br />~" r• <br />E. W. aumg ardner, President <br />of Council. <br />}A <br />l' <br />t~ , ~, <br />