0875 Ordinance - Laserfiche WebLink

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_~ thereof. The funds derived. from said taa levies hereby required, s1.1 b+s placed in a separate and disti't fund, which, together xith the interest collectei. on the same shall be irrevocably pledged for the payment of principal aad interest of said b€ynds when and as the same fall due. Section 4. The Clerk is hereby suthori~ed and directed to certify a copy of this ordinance to the auditor of ,Cuyahoga County, Ohio, according to la~u. Section 5. That all installments of said assessaents and all portions thereof, together ~sith interest thereon, shall ]~e applied to the payment of said bonds and. interest as the same shall b®come due and to no other purpose whatsoever. In the event that the amount of bonds required to be issued for said improvement shall be reduced by the cash payment by the property owners in accordance Frith the option incl~l.ed in the assessing ordinance,. such reduction shall be accoffiplished by reducing all of the serial bonds herein- ab©ve provided for so as to retain substantially equal a~ual maturities. Section 6. The Clerk is hereby directed to have said. bonds and coupons properly prepared and executed, to sell the same and to deposit the proceeds in the Village treasury to the credit of the Selhurst Road Wager Improvement Fund for the purpose of paying the cast of said 3.~tprovement not heretofore provided to be paid by said Village and for ~ti.ich purpose said money is hereby appropriated. Section '~. That said bonds shall be first offered at par and accrued interest to the Treasures and Ufficer ~ charge of inki Fund and if said Treasurer ~ Officer refuses to take the S ~ any or all of sa s then said Bond.~a not s® taken shall be advertised for' public sale and sold 3.n the manner provided by law but not for l+~ss than the par value and accrued interest• Section 8. That this ordinance is hereby declared to ,,