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ORDINANCE N0. 1949. &Y : fir. Schwenk AAT OxDII~ANCE TO PRO'iTIDE FOR THE IS3t~'A~1CE OF BQE'DS FOR THE: F~GHASE OF TWO i~TOR COACHES FOR U3S BY THE ~tOgTH Oi~MS~'$D AIUI~TICIPAL Rt~S LINE. S, tine City of Forth Olmsted? Ohi©, cams and operates a_D~-u~icipal his Liao carrying passes~rers to and from i~he City of 61ev®land~ and '$Sl~, it is aecsaaary tip isase boada is the amount of ~.t3:,4~.40 f®r the puurpase of purshasi~ s®ter vehicles fer use os said M~icipal Bits I.ise,. sad Ad, this Cesl desires a single bond issae far the f~-regaing purp~see, aa+~ the City luditar has certified that the life ar ua•f~aesa of the prapsrty and impravea-eata ceate~a-. dated e~cseads fine years, as xell as the ~uucsur satxrity ®f said beads is acserdamce xith gestioa 133,~7f!`errer ~cti0a 22~3«~~ of the ~eeaeral Cade xhiah aa~ci~tuti maturity daea sat ~acceed the as au~ber o~' yeara~ reg~3.rsct to retire the baadt as certified by this Council to the denmty luditor. i~T T B8 EE IY Oi~lAti~D E7 T~ COt~CIL OF Tom: CITI' OF ~TOETi , ?ATE OF OEIfl; That tar the:purpaae of pnrshasiag acid star vehicles it is aeceaaary t® iaaae sad there shall bs is d~aad acid, taa~ia: of this City in the priaci~a]. a~aaxat of ~A . .AO uaadar~ authority of the IIaifa-rm Hhad let of the ~aeral ~ede of the ~3tat• of ahie,, That sneh treads shall be issYed is sae let• g'aid bc~ada shall bear date of lpril l~ 1l54 aha o d~aasiaatien of s aA, shall be setipoa b®ads, payab ; t® bearer at ths- .eswitl City ilk of C'levalaad, Yarth Oliated ~raaeh, shall beaYriaterest at the rate of three ~3 per seatat per sasu~ payable sesi;r.aaa~uta.ly ea the first day - of lpril sad the first day ~-f tietsiaer of sash year until tha priacipal.~umis paid;, xpaa preseatatiaa aad~aurraader of the prayer igtarest car~poaa xhich shall b• attashed to said beads;, provided, haxev~r, that if said beads are sold beari a diffsreat rate of ial~srest than hereabefere s~acif i.d. s~c+~h tis~la shall bear sash rate of iatersst as say be pr®videe~ for is the resal~ttio$ axardiad the sa=e. tin laid roads shall lie a~uabsred frwa ®se to „ f®rty inelus vr:, shall nature as f®llexs. to ~f . ILat ~arit,~ m b Oa~Cober 1, 1955 1 to ~ both inclaaive; ~ dy0~.40 Oct®ber 1, 1956 ~ t® 1~b a ~ $~,Ot~.4O October 1, 195?' 1~ to a a d~pQp~pp t,)ctaber l~ 195th 25 to 32 ~ n d,4C4.OO Qetobe= 1~ 1959 33 to:>~A ~ ~ B,~0v.oO Fer the paymsat of said pris-aipal sad acid interest e®npeas tharete attaehod, the fh7.l faith sad sre~it of the city of Yorth 01~aated is hereby irrevocably pledffied,