66-293 Ordinance - Laserfiche WebLink

Home Browse Search

w • ~`'.. -2- placed beforea ~d in preference to all other items and for the ftil.l mount thereof. ~. fuxula d~arived from said tax levy hereby required shall be placed in a separate sad distiuct• Put~d, which, together with tl~e interest colleetad an the se~ae shall be rrlnrocmbly pledged for the payment of principal aad interest on said. bonds when and as the same fall due. Sectiom 6. Said bow sY3a1.1 be first offez~ed at gar and. accrued inter- e$t to the officer its charge of the Bond Retirement Fund in his aff.cj.el cspaeity, and. if send officer refuses to take any or all of ~gid beds, then said bonds not so taken shall be eidYertised far public sa1:e end sold in tt manner provided by law. 2'he proceeds from the sale of said bonds, except tb~e premium, accrued interest thereon and capitalized interest, shall b~ used for the purpose aforesaid and for no other purpose and be allocated to the i~rove- ment•herein described. The premium, accrued oral capitalized interest received frcm such sale shalt be transferred .to the }3otal Retirement Furl to be applied tc the rit of the principal and intereest of said bands, in the manner provided by law. Section 7. the Clerk of Council is hereby auth~srfze~~. and directed to certify a copy of this ard.inancP tca the A~.~ditor of Cuyahc~~a ~'c~.~nty, Chia, according to law. ° Section $. This c~rdiru~nce is hereby declared to be an ctnergency measure ne~oassary for the pservaton of the gub2.ic peace, welfare anct safety ~~f this City, aril for the P`urther reason that +..2^,e note of this ~,ity issued in anticipation of these bondffi is about. to mature and must be ret:~red with the proceeds of the boruls authorized herein in order to protect the credit of this City, wherefore, this ordinance shall take effect and t,e ir- force i~srediately upon its passage and. signature by the Mayor. Paseaecl: ~ 6 ~ ~ _ , 19F~i . "-" President of Council Attest : „_...,_,_. _`""_.....e`r"~of~~unc it ~l ~`-` Approv°ed Me~ydr