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<br />e <br />C~ZNANCE 110. ~ ~" / ~ ~? <br />BY: ^~~ <br />AIt ORDIM1tCE Atft'H(3RSZI1'iG ~ ISSUANCE OF <br />BY T'FE+ Q27 OT 110~t'1Zi OL~~ FOR THE PURPOSE <br />OF A(XZtJIRIIG RltAL F~STA7E AND TH8 BUILDINGS <br />2E~l~t'31t MaR 2'AE EXPA2iSION OF TAE CZ TY NA t.I. <br />FACILI'T'IES, A~iD DECLARI?1G AN EMEF~GENCY. <br />WHYS, the Tlireetor of Finance, as Fiscal O''ficer o~ t~~~f.s <br />City, has heretofore certified the estimated life of the property a:ad the <br />maxi~nnn eaturity of the bonds proposed to be issued, <br />t1C~, THEREIK}RE, BE I `T ORI3AINE`0 ~t7y t`r>e noslZlCi : ox" tt~e t;ity ~o f <br />Alorth 01m$ted, State of Ohio; <br />Section 1. 'T'hat it is hereby declared necessary to i:~su+e bond:; <br />of the City of North OLested, in the principal sum of , ~LtC1 far the purpose o~' <br />acquiring real estate and the bui?d.ings thereon fox• the expansion of the city <br />hall facilities. <br />3ectioa 2. Said 'bonds shall be issued irl tfi2 ~srincipsl unt <br />of ~62,k00 Por the purpose aforesaid. The said bonds shall be dated June 1, <br />1965, shall be issued. in the denoenine~tion of ~i1,000 each, except bond No. 1 <br />in the denomination of ~i~, shall be numbered from i to b3, bot>~ inc:lusiv~:, <br />and shall bear interest at the rate of three and one-quarter per centum (3~~/ <br />per annum, payable semi-ann~lly on the first day of June and the first day of <br />December of each year beginning June 1, 1966, until the principal sum is pe.i<j, <br />as evidenced by the coupons attached thereto; provided, ha~rever, that if the: <br />bonds are sold bearing a different rate of interest than herein specified,, s~.ach <br />bonds shall beer such rate of interest as nay be provided in the resalutir~n of° <br />Council approving the award thereoY. Such bonds shall mature ire their ctsnsecciti °w~e <br />serial order as follows: <br />~~+, ~U on I)ecembtr 1, 2966, <br />$x+,000 on December 1 in each of the years from 1967 to 3., sew <br />$5,0c~ on Dwee~ber i in each of the years frota 1968 to 1q7~, <br />inclusive. <br />arhlch maturities are hereby determined to be in substantially equal. annual. <br />installments. <br />Bectiorz 3. Said bonds shall be executed by the Mayor and <br />Mrertor of Finance and shall bear the carpor~te seal. of said City. Interest <br />coupons attached to said bordffi shall bear the facsimile signature of the <br />Director of Finance printed or lithographed thereon. They shall be 3esigruxted <br />"City Hall Site Vision bonds"', and shs.11 ~ payab~.e in lawful e~csney of the <br />United States of Ame.rira at the n~aix~ off'ic? of The Piational ^ity Baru oi" <br />Cleveland, Cleveland., Qhio. <br />$ectzon ~+. For the purpose of providir.~ the necessary funds <br />tospay~the interest on the foregoing issue of bonds promptly when and as the <br />same fails due, and also to provide a fund sufficient to discharge the said <br />serial bonds at maturity, there shall be and is hereby levied can the taxata~e <br />property in the City of forth Ulmsted, in addition to ail othe*~ taace:;, ~a di~~ef° <br />