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<br />~. THE CITY OF NpRTH OLMSTED
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<br />All C~tD7t~ Atfl4IO~iXZIPf3 `THE` ZSSUA~t~ OF l~~iD6 BY 2~E
<br />CI'I'Y OF' lll'31 Oil F'~ TAE PURP03S tJF PURCHASING
<br />PACitElt-2'~F'E GARBAt~'E 'i4ttK Ft7R TfTE DEFAR`l'~flP OF
<br />PUBLIC SE'RgIGl~, At~D DECLAi3I1gG AID ~~.+iC7.
<br />i~t'~R'F.~-S, a note in the ~aummt of $70, 50e~ eras authorized pzrrsuant to Ordin-
<br />ance lta. ,~. in auticl-potion of tY~e bonds herein authori2ed, w^ich ~ateras
<br />not yet b~~~i~~lelivered; and
<br />ii4~I~S, the Director oP Fi-ce, as fiscal. off~:cer of this City, has here-
<br />tafore certified the eetimatetl life of the property and the maximu3n maturity of
<br />the b+~ods gropoeed to be issued,
<br />!(~1, T~ilaRETC?RE, BE I"1' c~F€UA by the ~our:ci'I of the City of 'Harth t~]..msted.,
<br />Ohio:
<br />9ectioe 1. That it is hereby declared necessary to issue bonds csf the City
<br />of ~h Qlanted, in the prncipiecl gu~o of $7~, 50(3 for the purpose of pc~rcha+~ing
<br />-type gaxbage trunks for the Dtgertxnent of Pub:Lic Service t;f the City.
<br />3ectitm 2. Said bogie shall be issued in the principal am~nant of $74:SCtJ
<br />fc>r th+t ~e afc~rassiRl. 'lba said bonds shall be mated December 1, 19f~, shall.
<br />be ias~ed in the denaa~d~-tioo~ of ~i:000 each, except bond. No . 1 whf.ch shall be of
<br />the de~cmt~aation of $5t?C}, shall. be ntettbered from 1 to 71, both inclus{.ve, esad
<br />shall bear interest at tht rate of four and one-hall' per centum ~~+-1,~2~,} per annv~i,
<br />payable eesi-annually on the first dey a~' June akd. the first day of December of
<br />tech year beginning dus~ 1, 1967, until the principal sum. i:c paid, as evidenced
<br />by the coupons attached thereto; provided, hcaWever, that if the bonds are sold
<br />bearing a different rate of interest t~'"iaxi herein specifi Ady suer ;aar~ds shall bear
<br />such rate of interest as ~"" be provided in the resalut ar; cif Courcii approving
<br />the award thereof, Such. bonds shall mature in .heir consecutive :serial order as
<br />follows ;
<br />$1~+, 54o an Dece~er 1, 196t3; •
<br />14,000 an Deces~er 1 in tact: ~` the yeerrs 296E and ? g71;
<br />13,400 on December 1, 1970; and
<br />15,400 on December 1, 197`23
<br />which maturities are hereby dtterminecl tc be in aubsta:iti<<lly Paual annual install
<br />mats .
<br />Section 3. Said bonds shall be executed by the 1-~ayar and Dia~ector of Fi:nane
<br />and shall bear the corporc~tP seal of said City. Interest r,oupons attached t~ se-id
<br />bonds shall bear the facsimile signature of the Director cf Finance prirt~eci rr litho-
<br />~l thereon. They shall be designated "Garbe~e Trucks B>3nds", end mall ~Se
<br />peals in ].avfttl money of the United States of America at t.ie zm~in affict ai' T
<br />~tticam~al City Aenk of Cleveland., Cleveland, Ohia .
<br />Section 4. For the purpose of providing the necessary funds to paY the inter-
<br />est on the foregoing issue of bc~tsds promptly when azul as the same falls clue, axzd
<br />also to pronride a f'u~1 sufficient to discharge the said serial boz~i.s at maturity,
<br />theme shall be and is hereb3r levied on the taxable property in the City of H'ori,'h.
<br />. 03,astead, in addition to all ether taxes, a direct tax annually during the. period
<br />said brads are to ru~a in an amt sufficient to prnvidt funds to p+a~y the interest
<br />Said baaad~ as sad. when the same fall due, and s1.ec to provide a full ~'or the
<br />di~ech+e of ttbe principal of said serial bonds a'~ maturity, wraieh tax shah. not
<br />be le^ee thel^t th+s interest and sinkizkq fund tax required by Section 11 of Article
<br />X'III of the Constitution of Ohio.
<br />9eatit~a 5. Said tax shall be and a.s hereby ordered. computed, certified,
<br />levied seal extended upon the tax cl~,tplicate and collected by the same af'''icex^s,
<br />in the same manner and at the same time three texts for general puxpos~s f'or each
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