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~~- z~i~ <br />Section 7. During the year or years such note is outstanding there shall be <br />levied on all the taxable properties in the City of North Olmsted in addition to all <br />other taxes a direct tax annually not less than that which would have been levied <br />if bonds were issued without the prior issuance of said note. <br />Said tax shall be and is hereby ordered computed, certified, levied and extended <br />upon the tax duplicate and collected by the same officers in the same manner and in <br />the same time that taxes for general purposes for each of said years are certified, <br />extended and collected. Said tax shall be placed before and in preference to all otizer <br />items and for the full amount thereof. The funds derived from said tax levies hereby <br />required shall be placed in a separate and distinct fund, which, together with the <br />interest collected on the same, shall be irrevocably pledged for the principal and <br />interest of said notes or the bonds in anticipation of which they are issued when and <br />as of the same fall due. <br />Section ~. The Clerk of Council is hereby directed to forward a certified copy <br />of this ordinance to the Auditor of Cuyahoga County, Ohio, <br />Section g. This ordinance is hereby declared to be an emergency measure necessary <br />for the immediate preservation of the public peace, health and safety of the City and <br />for the further reason that immediate ~~1Psuch buses and equipment is necessary <br />to the adequate operation of the Municipal Bus Line; wherefore, this ordinance shall <br />take mided3.ate:effect from and after its passage and approval. <br />n c~-,,,- ~--~-, ~,~ , ~' , ~ e-~,~~--sue <br />s <br />Attest; ~~L1X~(~tXJCJ~G ~l <br />~~P~- r <br />!! ~y <br />~, <br />~~ l <br /><< <br />2 <br />