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shall bear interest at the rate of three per centum per annum, <br />payable semi-annually on the first days of April and October of <br />each year and for which the proper interest coupons bearing a <br />facsimile of the signature of the Auditor shall be attached to and <br />made a part of said bonds; provided, however, th at if said bonds <br />are sold bearing a different rate of interest than hereinbefore <br />specified, such bonds shall bear such rate of interest as may be <br />provided for in the resolution of council approving the award <br />thereof. Principal and interest shall be payable at the National <br />City Bank of Cleveland, North Olmsted Branch, in the City of <br />North Olmsted, Ohio. <br />Section 3. For the purpose of providing the necessary <br />funds to pay the interest on the foregoing issue of bonds promptly <br />when and as the same falls due, and also to provide a fund suffi- <br />cient to discharge the said serial bonds at maturity, there shall <br />be and is hereby levied on all taxable property in the City of <br />North Olmsted, in addition to all other taxes, a direct tax annually <br />during the period said bonds are to run, in an amount sufficient to <br />provide funds to pay the interest upon said bonds as and when the <br />same shall fall due, and also to provide a fund for the discharge <br />of the principal of said serial bonds at maturity, which tax shall <br />not be less than the interest and sinking fund tax required by <br />Section 11 of article XII of the Constitution. Provided, however, <br />that in each year that the assessments anticipated by said Bonds <br />are payable and are applicable to the payment of such interest and <br />principal and are appropriated for such purposes, the amount of <br />such tax shall be reduced by the amount of the assessment so <br />appropriated. <br />Said tax shall be and is hereby ordered computed, certi- <br />fled, levied and extended upon the tax duplicate and collected <br />by the same officers, in the same manner and at the same time <br />that taxes for general purposes for each of said years are certi- <br />fied, extended and collected. Said tax shall be placed before <br />and in preference to all other items and for the full amount <br /> <br />