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note or notes; said note or notes shall be dated April 1, 1951, and shall store © ~i~ 31 1952• suc nQQto o not es shall be executed. and de~ivered suc~ maPiner a$d s denominations as may be re4uested by the purchaser of said note or notes. Section 5. Said note or notes shall be e~cuted by the Mayor and the Village Clerk; shall bear the seal of the corporation; they shall be payable at the office of the Bank ofH~res Company, North O1mst~:d Hranch, in the Village of North almsted, ahio; they shall express ~pv~ their face the purpose for which they are issued and that they are issued pursuant to this ordinance. Section 6. All assessments collect>ed for the improvement aforesaid and unexpended balances remaining in the fumds after the cost and expense of said improvement has been paid shall be applied to the payment of said note ar notes and the interest thereon until both .are fully provided for. Section 7. Said note or notes shall first be offered. to the ~'easurer 4f the Village and so many of the same as shall not be taken by said Vi1.1 a Treasurer shall be sold at private sale by the Village Clerk,bt for not less than par and accru+sd. interest, and the proce~ads from such sale, except any premium. and aeerued interest theYet~n, and the amount therer~f nectessary for the p~y~+~,t of interest ~. to t}~e maturity of said note or Hates shall be paid into the proper fund .and used for the purpose aforesaid and fair n0 other purpose. Any premium and accru$d interest and the amount necessary far the pa nt of interest prior to their maturity shall be transferred to the S~p~king Fugcl to be applied 3x~ the payment of the principal and interest on said note ar notes in the manner provid+~ ~' law. Section 8. $~d. note or notes shall be the full, general obligation of the Villaggle of forth Olmsted. Band. the full fa~tb~,, ared.t m~entrafeth same~i Th~lparevaluehto b~ reee~vedffrhth~PSal~ y_ ids anticipated by said note or notes and any eaxcess fund resulting from the issuance of said note or notes shall, to th+e extent necessary, ire used only for the retirement of said. note or notes at maturity, together with interest thereon, and is hereby pledg+ed.for such purpose. Section 9. In the event that such ass+~ssments are Hat levied or bonds are not issued to provide a fund for tiie payment of said note or notes at maturity, a general tax shall be levied against all of the property of said Village for the payment of said note or notes and the interest thereon. Section 10. Thy; Village Clerk is hereby directed to for~rard a certified copy of this ordinance to the County Auditor. Section 11. This ordinance is hereby declared to be emergency measure, theeaergency being that it is n®ctessary for the immediate preservation of public health, peace, saYety and welfare, and the daily operation of the municipal departments of the Village, that this ordinance be passed at once and shall take effect and. be in force from and after its passage. passed: .April 3, 1951. Attest ~,, Chrism _- - s ~, ~, S .~ a Clarene loft, day®r