0873 Ordinance - Laserfiche WebLink

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':~.,~.. thereof . The f~+ds derived from said tax levies her+el~y required, shall be placed in a separate and distinct fund, t~3.ch, together ~r1.th the interest collected on the same shall be irrevc~cshly pledged for the payment of principal and interest of said bands ~rhen and as the same fall due. Section 4. The-Clerk is hereby authorized and directed to certify a copy of this ordinance to the Auditor of Cuyahoga County, Ohio, according to Taw. Section 5. That all installments of said assessments and qll portions thereof, together with interest thereon, shall be applied to the payment of said bonds and interest as the same shall become due and to no other purpose whatsoever. In the event that the amount of bonds required to be issued far said improvement shall bas reduced by the cash payment by the property owners in accordane with the option included in the assessing ordinance, such reduction shall be accomplished by reducing all of the seriall~ndsY~arein- above provided for so as to retain substantially equal annual 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 irj. the Village treasury to the credit of the Silverdale $oa+d ~iat~er Improvement Fund N©. 2 for the purpose of paying the cost of said improvement not heretofore provided to be paid by said Village and for which. purpose said money is hereby appropriated. .Section 7. That said bonds shall be first offered tt par and accrued interest to the Treasurer and Officer in charge of the Sinking Fund and if said Treasurer or Officer refuses to take any or all of said ~c~nds then said Bonds not so taken shall be advertised for public sale and sold in the maker provided by law but for not less than the par value and accrued interest . Section 8. That this ordinance is hereby declared'to