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<br />.,,;:ordinance No.,, 252
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<br />Mr _______________ _ Bidwell
<br />Clerk of tine Village of NQrtli 01iusted, 01iiv
<br />An Ordinance
<br />To issue notes in anticipation of the issue of bonds and the collection of
<br />;i the Special Assessment for the improvement of Porter Road from Northern Ave.,
<br />to Southern Ave. proposed by guiding, draining and constructing sideivalk on
<br />both *sjd�s *t�e�e * * * * * * * * * * * * * * * * * * * * * * * * * * * * *
<br />WHEREAS, the Council of the Village of North Olmsted , = Ohio, has here-
<br />tofore by resolution duly passed on the 6 day of march ,
<br />19 28, declared the necessity to improve Porter Road from Northern Ave., to
<br />Cn„thn ye. rorosed _ in the
<br />'vi age or North Olmstedby grading, draining ana constructing along and
<br />.iron both - sides of porter Road, a sawed sandstone or concrete sideivalk
<br />E accordance with the plans and specifications therefor, and of levying a
<br />special assessment upon. the property abutting on said -road to pay for'said
<br />improvement,.all in strict conformity to law, and,
<br />WHEREAS, this Council has requested the Village Clerk to issue his
<br />certificate as'to the estimated.,li-fe of said improvement proposed to be
<br />constructed ..from the proceeds from the notes hereinafter. referred to and
<br />the.,Village Clerk has certified to.this'Council such.estimated life as
<br />ten years and has further certified the maximum maturity of such
<br />on s as tten- years, and such notes as two ,years.
<br />WHEREAS, this Council estimates that a tax for said, notes will first
<br />appear upon the duplicate . for ,the tax year , and-the f anal ' tax
<br />settlement with the - County Treasurer next T—olloking the inolusion.of a
<br />tax for this issue in the annual budget of the County Auditor, as pro -
<br />vided by law will, be, obtained not earlier than the first days of April
<br />19 29 and will require � 303.60 for interest until such tKxeF are
<br />co ected and available
<br />NOVI THEREFORE, be it ordained by the Council of the Village of North Olinsted
<br />State of Ohio, two - thirds of the members elected thereto concurring : -.
<br />Section 1.. That for the purpose of raising.money'in anticipation
<br />of the levy and collection of Special Assessment for the. improving of
<br />Porter Road from Northern Ave. to Southern Ave. proposed
<br />in the Village of North olrasted by
<br />rrading, draining and constructing along and upon both sides of Porter
<br />Road a sawed sandstone or concrete sidevvral
<br />bonds of said Village shall be issued in an amount not to. exceed fine thousand
<br />n, rnln d- 1.v. r�.+nri .+•� i- nr�vi -t �li++nn rinl 1 nro nrr� �iv•F -ir nnvi -n ��•L. S2'�r{ C:�il
<br />of which five thousand five ht :ndred and twenty dollars (q5520.00)
<br />•is tho estimated cost of said
<br />improvement according to report of ng5eer and three hundred and three
<br />dollars and sixty cents ` ?303.60)'
<br />is the interest for one year thereon.
<br />'Section '2. , Said bonds shall be, designated as the "porter Road Sidewalk
<br />Improvement Bonds" shall be of the denomination of k 600100
<br />each except the first bond which. shall be four hundred tvrenty- threehree 7a s
<br />cents. {5;;423.60) shall be dated October 1 , 19 28.;
<br />shall ravi interest a e, rate of 5 -1- per annum payable semi. - annually`
<br />on the first days of April an Oct ober - in each years until
<br />presentation and.surron er�est coupons to be attached to said bonds
<br />bearing tle facsimile signature of the Clerk and shall be duo and payable
<br />as follows:—_
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