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~~ ORDINANCE N0. ° 91 9 BY: MR. SCOTT AN ORDINANCE TO PROVIDE FOR THE ISSUANCE OF BONDS IN ANTICIPA- TION OF THE COLLEC~'IC1Id OF SPECIAL ASSESS~E~IF~N2S FOR THE IMPROVEMENT OF PORTER ROAD FROM LORAIN ROAD TO THE NORTH LINE QF THE S, S. SCHERRER PROPERTY BY COl~STRUC- TION OF A WATER I~IAIN, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF NORTH Q~STFS~, STATE OF OHIO: Seeto~n 1. That for the purpose of raising money in anti- cipation of the collection of special assessments for the improve- meat of Porter Road, from Lorain Road to the north line of the S. S. Scheirer Property by construction of a Water main, in ac- cordance with Ordinance No, $22, passed on the 6th day of June, 1950, bonds of the City of North Olmsted, Ohio, shall be issued to the amount of X13,700.00 to pay a note previously issued and is now due and payable. Sect-ion 2. Said bonds shall be signed by the Mayor and Clerk, bear date of January 1, 1952, and shall be numbered and be due payable as follows: Date of Maturity Numbers Am~.u October 1, 1953 1 Inclusive 'x}0.00 October 1, 1954 2 " X1,000.00 October 1, 1955 3 n X1,000.00 October 1, 1956 4 " x,1,000.00 October 1, 1957 5 " X1,000.00 October 1, 195$ 6 " X1,000.00 October 1, 1959 7 ~ $ " X2,000.00 October 1, 19b0 9 & 10 " X2 000 00 • , . October 1, 1961 11 & 12 " X2,000.00 October 1, 1962 13 & 14 " X2,000.00 It is hereby determined that the above maturities are in substantially equal annual installments. Said bonds shall be of the denomination of X1,000,00 each, except Bond No. 1, which shall be in the denomination of X700.00;