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ORDINANCE id E). 934 BY: MR. SCO`T'T AN OtiDIi~ANCE TC} FRO~TT~)F'~ r':~r. THE ISSUANCE OF BONDS IN ~I~i T ICIPATION OF THE COLLECTION OF SP'E'CIAL .ySSESSMENTS FOR T?-iE I~~.'r}~OVEz~7ENT OF POR`T'ER ROAD , FROM LORAIN R0~`~D TO THE Tv=ORTH LINE Or' THE S . S . SCHERRER PROPERTY ~Y CONS'I'RUCTIt~~ OF A .~~TER _ LAIN . BE IT ORDAINED BY THE COUI~ICIL O~H `T'T?F; tIT~I 01,, NORTH OLMS`T'ED , STATE OF C3HI0: Section 1. That for the purtiose of raisin; money in antici- ration of the collection of special assessments for the improve- ment of Porter Road, from Lorain Road to the north line of the S. S. Scherrer Property by Construction of a Mater Main, in j accordance with Ordinance No. $22, pas,,_ed on the bth day of II' June, 1950, bonds of the Cit~r of North Olmst ed, Ohio shall be issued to the amount of X11,7?3.00 a note pr eviously is}zzed and is now due and payable. .Section 2. Said bonds shall b e signed b y the Mayor and Clerk, bear date of January 1,..195 2, and sha ll be numbered and be due payable as follows: Date of Maturity Numbers Amount October 1, 1953 1 Inclusive X1,000.00 October 1, 1954. ~ 2 " ~,"1 X000.00 October 1, 1955 3 " ~°1,000.00 October 1, 1956 4 " ~l ,000.00 October 1, 1957 5 " ~1. ,000.00 October 1, 195 6 " 1 ,000.00 October 1, 1959 7 " X1,000.00 October 1, 1960 ~ " l ,000.00 October 1, 1961 9&10 " ~?_,OC?0.00 October 1, 1962 118c12 " ~°~1,773.©~~ It is hereby determined that the above maturities a.re in substantially equal annual install ments.