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Section b. All assessments Coll®cted for the improvement afore- said and ur~sapended balance remaining in the fund after the cost and expense of said improvement has been paid shall be applied to the payment of said note or notes and the interest thereon until both are fully provided for. Section Said note or motes shall first be offered to the Treasurers t e City sad s© aany of th®raaam® as shall not be takes by said Gity Treasurer shall be sold at private sale by the City Auditor, but for not less than par sad accrued interest, and the proceeds from such sale, except any premium and accrued interest thereon and the amount thereof necessary for the payment of interest prior to the maturity of said note or notes shall be paid into the proper fund and used for the purpose aforesaid and for no other pur- pose. Any premier and accrued interest and the amount necessary for the payment of interest prior to their maturity shall be transferred to the Sinking Fund to be applied in the pay~ent of the principal and interest on said note or notes in the manner provided by larr. ~sction $ Said note or notes shall be the full, general obliga- tions o t~ he C ty of North Olmsted and the full faith, credit and revenue of said City are hereby pledged for the prompt payment of the same. The par value to be received from the sale of bonds anticipated. by said note or notes and any excess fund resulting frost the issuance of said sots or notes shall, to the eztent necessary, be used only for the retirement of said note or notes at maturity, together with interest thereon, and is hereby pledged for such purpose, Sectio~,~,t In the event that such assessments are not levied. or boric s ce not issued to provide a fund for the payment of said note or notes at maturity a general tsx shall be levied against all of the }x•opert~r of said C~ty for the payment of said note or notes and the interest thereon. Section 10• 'die City Clerk is hereby directed to forward a certi ie copy of this Ordinance to the County Auditor, Section 11. This ordinance is hereby declared to be an emergency measure, t e emergency being that it is necessary for the ia~ediate preservative of pcblic health, peace, safety and welfar®, and to borrow money i>eeediately for the necessary improvement of a City street that this ordinance be passed at Dace and shall take effect and b® in force and effect froffi and after its passage. PASShB t G~'`~ / 9 ~ ~~~" ATTESTS ~ ,~~ ~_} .Christman, er ~ ouncil APPROVED: C r es ~ ewis, yor ~~ ~~~ ~o~ fY i -, :.~ ~.