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,- <br />~_ <br />~ L - ~ P'3 <br />bonds anticipated by said note and any excess funds resulting from the <br />issusnee of said note shall to the extent. necessary be used only for the <br />retirement of said note at maturity, together with interest thereon, and <br />are hereby pledged for such purpose. <br />Section 7. All assessments collected for the improvement aforesaid and <br />aqy unexpended balance in the improvement fund after all costs and expenses <br />of such improves~ent have been paid, shall be applied to the payment of said <br />note and the interest thereon until both are tally provided for. <br />Section 8. In the event that such assessments are not levied or bonds <br />are not issued to provide a fund far the payment of saic. note at maturity, a <br />® genera], tax shall be levied against all of the property in said City for the <br />payment of such note and the interest thereon. + <br />Section g. It is hereby determined aml recited that all acts, conditions <br />and things necessary to be done precedent to and in the issuing of said note <br />in order to make the same a legal, valid and binding obligation of the City <br />of l~torth Ql.msted have happened, been done and performed in regular and due <br />form as required by lax and that no limitation of indebtedness or taxation, <br />either statutory or constitutional. will have been exceeded in the issuance of <br />said note. <br />Section 10. The Clerk of Council is hereby authorized and directed to <br />forvard a certified copy of this ordinance to the County Auditor oi' Cuyahoga <br />County. <br />Section 11. This ordinance is hereby declared to be an emergency measure <br />r~cessary for the preservation of the public peace, welfare and safety of this <br />® City, and Par the further reason that the immediate constructior. of said <br />improvement is necessary to afford fire protection and to protect the health of <br />the abutting owners and the inhabitants of the City; wherefore, this axdinance <br />shall take efX'ect axxi be in force imanediate]~y upon its passage and approval <br />by the Ms<yor. <br />Passed : ~ ~~,X,~ `t' , 1966 <br /> <br />1 <br />Attest t <br />_, ~* i <br />,\ ~ ~ rte, ~ _t, ~~ <br />~sident ot" Council T ~"( <br />Approved: ~D ~G G , 1966 <br />T <br />Mayor <br /> <br /> <br />,~ <br />~Y ,'_. <br />