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08DI1~ANCB N0. ~,~_. ~: ~'. Ae ~•' `~t{ ,~- A~1 08DIAtANCE TO PROyIDE FOB THE IS,$UI~TCr OF 1~OTE3 IH AIdTICIPATIO~ OF ?~ LBFY OF SPECIAL ASSES SAND III ANTICIPATIOAI OF THE ISStTIHG OF BO~tD3 IN AHTICIPATIOAi OF THE COLLECTIOR OF SPECIAL ASSES ~3: F08 THE IB~P80VEiT OF DECSEB 80AD FRCg+! IA38AIDT ROAD TO MIDQALE A'PSHHE BY CON- 3TBUCTII~G THEREIB A WATER MAIM. G~hsrsas, the C©until oaf the City of Aiorth Olmsted has heratofars, by proper legislation, determined that the impuroveaa~eat of Danker 8oad frc~ gain $oad to Midvale Avenue, by constructing therein a xatar maim is necessary for the immediate preservation of the pa~blie health, peace, safety and melfars, and Whereas, this Council contemplates the rise of X21,?00.00 for the purpose of pay~g tba portion of said iffiprovemsnt, xhich is to be paid by assessments. T, THEBEFUB~ BE IT ORDAINED: BY THE COt1A1CIL OF THE CITY OF NORTH OI~3TED~, STAT~ OF OHIO: Section 1. That it is hereby declared necessary to isms bonds of the "ity o~N©rth Ol~nstsd in the principal spa of X21,700.©0 for the purpose of raising a©aey ix anticipation of the collection of spacial assessments for the i~aprovement of Decker 8oad from Lorain Road to Midvale Avenue, by constructing therein a prat®r mains Section 2 That said bonds shall be of the denomination of ~1,©0~~ escept Bond No. 1 ~-hich shall be of the dencmiination of X700.00, shall bs dated April 1, 1955, and shall bear interest at the rate of not to sacasd font (~.~ per cent per annum, payable se~ai- annually cn the first days of April and October of each year until the principal sua~ is paid, and shall mature in tea annual installments after their issuance. 3ecti0 That for the purpose of raising money in anticipation of the Vii? © spacial assessments a~ad in anticipation of the issuance of bonds in anticipation of the collection of special asssssmenta for the impravsment of the above named street by constructing thsrain a hater main in accordance Nrith the legislation heretofore passed by the City Ccuneil with respect thereto to pay the property ~ers~ share of the Bost anal expense of said respective iaprovsmsst, it is h®reby de~l~red necessary to issue and there shall be issus~l, nets or notes of the City of Dlorth 0lastsd in the sva of $21 70®.00, wish shall be placed to the credit of the Decker BAad Water ~mprovemeat Fund in the amount mf X21,700.00. Section That such anticipatory cote or notes in the amount aforesa~c~ s be issued bearing interest at a rate not euceeding four per cent (~.~); per annum, payable at the maturity of said note or notes;, said sots or Hates shall be dated as of the date said note or notes are sold, and shall maters on April 1, 1955; such mots ®r notes shall be executed and delivered i~- such manner and such den~ina- tions as may be requested by the parchaser of said acute or notes. 3e tios~~, Said note or notes shall be axecutsd by the Mayor and t~ Auditor; shall bear the seal of the corporation; they shall be payable at the office Qf the National City Bank of Cleveland, ~c-rth 02asted office, in the City of N®rth ~lssted, Ohio;, they shall s~cpreas upon their foes the ptitrpc~se for xhich they ors issued and that they are issued pursuant to this Ordinance,