66-219 Ordinance - Laserfiche WebLink

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,`Jy +u~ All ElRD2lM->~t T'0 i'd0Y11~ lbR Tlla Is~l1ANCE OF A lam!! ~ AlN!'ICI1~titTl0l1 Olr TSE Ts~IAI~E OF HO11DS 1~ ~ RlitlOP~ Ol~ PI~iCBAS7.l~i PACl48dt Z"YPlr a s~Cxas ~ ~ ~r ag pUdl.Tc sllRifl~'i 0!- Ti Ca'~C, Alm IIgICLARII~I Alt EIICY. , this llrscter of Finance, ss fiscal officer of the City 1~ 3N~~ cfrti!" Ir c~ti~eated li"it of the property and the ss~cit~s arlt~tity of th! bserAs ~ notilts propaald to be issued; >Klit, 'Af , ~ P!" fptDAll~'D by the Council of the City of ife~th Ulat~d, Culrahop Casssty, Ohio stctiaa 1. ~-t it is hereby declared necessary to issue beads of tlM City of North fwd as tie principal. sue of X70, S~ for t~ht purpose of ptu~ahasna pacloer-typ~t ~ trucks for the Dspart~rant of Public Service of tint City. stetian 2. mat said bonds shall be dated aT'oxiaNatsly stpte~+er 1, 19b7, shall iae~tst at ~e estiaated rate of ft~r anal. oaaa•7.t pc~r ~1-~~) pess~ -, l~ u+dttl.-~Itt~a-lly, until the pr3~ncipal. +it~ is paw;, god +tlartll til-tva~t in flvt substantiwlly equal at~ua3 installas:zts a~~er tMt' i~sstiwnecs . • statit~ 3. Tbat for the pusrpcase of raising attaaey in antieipstias Ot the issue of tArt aibrseaid bids tar tbs described i~ro~rtMlat,~ it is lel~ls'igr +d~tt~d ~ to issue axd there shall be iseurd a a~r1-e at said City is flit paracipru s~ur-t of #70, 500. 8tatiea 4. 'Alit sea~+ anticipatory ixi the ssount atc~esaid laa~ st .amts not faccadirag tb~er aaad ane-bdlf err ~~a !~' ~ ss >~- w ~ bM- the ~irtctor of >E'iaae~ce in his as+urd of said aalrM a`t pecr+att sale, sates #ht+tratt to be p1t at maturity. said •s iattd as of t~ dat~R of iesusn~ce .and shall mature on or batorle cane tlr+ss soh seise. a shall be si~Nrd by the hla3lor seed by t3~t ~t~ of Mn~sce, sal brar the corporate s~-1. at the City, shall bf pyr- a1~ at the o!liae at ~ littia®~3. City Hank of Clevelaxad, Clevelsrs3, Cltio, awd shall mss cecs its fire ptaarpose for rthich it is issued and that it iat is+s~ri pursuant to this oa:+~lnaace . ssctivo 5. sub3ect to the resection c-f surh note by the Director Qt ~ iaernesta~-t in tlwe Attirea~snt ll~nid, such sots shall be seed by tw motor of Fi~lunce s-t private sale at as iaat#ctiwt rate acct axcerding !b}ar and +aes ahf per c~tvt per annum. The proceeds free such sales, except at~r ~~ ~ aocrued interest, shall be paid into the proper fund a~ used Per fd~e ~ aforesaid atld for no other purpCrse . Any preatsum and accrued it~lrt"sat shall bf deptcstmd in the Board Iiet~iresent Fund. Section 6. Said note shall be the full general obligation of th+t Cil~r laetl throe full faith, credit and revenue of such City are hereby g7.ed~3 pros~t paymient o2' the same . The par Talus to be received frca the d!' the bQCds anticipated by said note and any excess ftutids resulting frart I~t srewece of said Hoff :hall to the extent tutcessary be used only for # ,at of said at traturity, together with interest thereon, e ears hereby pledged f®r such purpose. 9ectiaa T • ~n t~hre y'ew' or years such note runs there shsl.l be lariad an all the taacable property in the City of North Olmsted in s8~diticat to ss3, other taxes, a direct teat annually not less than that rich wou],d have bND levied it bonds hs~l. been issued without else prior issue of such note.