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Said bonds shall be of the denomination of X1,000.00 each, <br />except bond No. 1 which shall be in the denomination of X1200,00; <br />shall bear interest at the rate of three per centum per annum, pay- <br />able semi-annually on the first days of April and October of each <br />year and for which the proper interest coupons bearing a facsimile of <br />the signature of the Auditor shall be attached to and made a part of <br />said bonds; provided, however, that if said bonds are sold bearing a <br />different rate of interest than hereinbefore specified, such bonds <br />shall bear such rate of interest as may be provided for in the reso- <br />lution of council approving the award thereof. Principal and interest <br />shall be payable at the National City Bank of Cleveland, Ohio, North <br />Olmsted Branch, in the City of 1~3orth Olmsted, Ohia. <br />Section 3. ror the purpose of providing the necessary funds <br />to pay the interest on the foregoing issue of bonds promptly when <br />and as the same falls due, and also to provide a fund sufficient to <br />discharge the said serial bonds at maturity, there shall be and is <br />hereby levied on all taxable property in the City of North Olmsted, <br />in addition to all other taxes, a direct tax annually during the <br />period said bonds are to run, in an amount sufficient to provide <br />funds to pay the interest upon said bonds as and when the same shall <br />fall due, and also to provide a fund for the discharge of the princi- <br />pal of said serial bonds at maturity, which tax shall not be less than <br />the interest and sinking fund tax required by Section 11 of Article <br />gII of the Constitution. Provided, however, that in each year that <br />the assessments anticipated by said bonds are payable and are applica- <br />ble to the payment of such interest and principal and are appropriated <br />for such purpose, the amount of such tax shall be reduced by the <br />amount of the assessment so appropriated. <br />~,, <br />Said tax shall be and is hereby ordered computed, certified, <br />levied and extended upon the tax duplicate and collected by the same <br />officers, in the same manner and at the same time that taxes for <br />-2- <br />