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Section 6. All assessments collected for the 3.nprovements aforesaid and unexpendedh$lance remaining in the fend after a cost and expense of said improvement has bees paid shall b+e applied t~ the payment of said note or notes and the interest thereon until bath aF~r fully provided for. Section 7. Said note or notes shall first be caffered to the Treasurer of the Village and s~ aaanp of the see as ~ia11. net be taken by said Village Treasurer shall be sold at private sale by the Village Clerk, but for not less than par and accrued interest, and the proc®eds from such sale, except any premiua and accraed interest ther®on and the amount thereof necessary for the paym of inter®st prior to the matur- ity of said note or notes shall be ~-aid into the proper :end aed used. for the purpose aforesaid and for no other purpose.. Any premieu~ a accrued interest and the amont necessary for the paymea~t of i~rter®:t prior to their maturity shall be transferred to the Sinking Fund to be applied in the payment of tY~e principal and interest on said note or sofas -in the manner provided by law. Section $. Said mote or motes shall be the full, general. ob~- ligations Qf the Village of North Olmsted and the full faith, credit and revenue of said Village are hereby pledged for the proapt payment of the same. The par value to be rsceived froffi the sale of bonds anticipated by said note or notes and any excess fund resulting froffi the issuance. of said note or Rotes shall to the extent necessary, be used only f+~r the retirement of said note or notes at maturity's together with interest thereon, and is hereby pledged for such purpose. .Section 9. In the event that such assessments are not levied or bonds are not issued to provide a fund for the peym+eet of said note or notes at maturity a general tax shall be le~ried against all of the property of said Vil~age for the payment of said note or notes end the interest thereon. Section 10. The Village Clerk is hereby directed to forward a certified copy of this ordinance to the County Auditor. Section 11. This ordinance is hereby declared to be an emer- gency,measure, the emergency being that it is necessary fear the ediate preservation of public health, peace, safety and welfare, and the daily operation of the municipal departments of the Villages and this ordinance be passed at once and shall take effect and be in force from and after its passage. Passed: ~~ 1951. Attest: . -1~I. ~ hr- stffi , .. . i , ~ .e 4~'' ., 1~eAt3e . ' Y' t a ~ o I'. b~~~~'e „,~M,,,.~,,., , . .