04-04-1922 to 12-31-1929 Ordinance 074 to 319

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ntt ^il of the n 11;7i ^ ; t'tllwn 11' k! JV C 1 (�til} firJ i t ° ]3 T?ta n l?i of /" t a c.. i.:3 t:o 3a �.uy c;flg % Ordinance No. 314 •• �• � CJ:'17Ur�t1OT1 .:`.3 C 3� 1:7 `''('l ' t.7 , Council of ",id Viiia -c; in Ordinanec Ivo. l.li pa 'cd I"UbMr. Biddull h An Ordinance * * * ---" n ii; 'aoh;o Ci"r� of'�h* V ikl; *;e *f >Mo+K � 'k'•* * * * * * * * * * * * * * * * * * * To issue bonds in anticipaAion of the collection of the Special Assessment for the improvement of Macbeth Avenue from Clague Road to the easterly limits of the Village, by grading, draining and slagging same WHEREAS, the Council of the Village of 3dorth Olnsted Ohio, has here- tofore by resolution duly adopted on the 1b day of lioverriber 1927 , declared the necessity to improve Kaebeth Avenue from Clague Roc to the _easterly limits of the Village in the Village of North Olmsted by-_ grading, draining and slagging scme in accordance with the plans and specifications therefor, and of levying a special assessment upon the property abutting on said road to pay for said improvement, all in strict conformity to law, and, WHEREAS, the notes, issued in anticipation of the issuance of the bonds hereinafter referred to, are about to fall due, and, C WHEREAS, this Council . has requested the Village Clerk to issue his car - 0" tificate as to the estimated life of said improvement proposed to be con - structed from the proceeds from the bonds hereinafter referred to and the 'v Village Clerk has certified to' this Council such estimated life as eight years and has further certified the maximum maturity of such bonds as Pi�ht years, and, WHEREAS, this Council estimates that a tax for said bonds will first appear upon the duplicate for the tax year 1930 , and the final tax settlement with the County Treasurer next 707 o7I-`w ng the inclusion of a tax for this issue in the annual budget of the County Auditor, as provided by law will be obtained not earlier than the first days of September 1931 and will require $ 196.59 . for interest until such axes are col- lected and available, NOW THEREFORE, be it ordained by the Council- of the Village of North Olmsted State of Ohio, two- thirds of the members elected thereto being present an concurring:. Section I. That for the purpose of raising money in anticipation of the levy and collection of Special Assessment for the improving of b"acbeth Avenue from Clague Road to the easterly limits of the Village in the Village of North Olmsted. by gradingi draining aixi slagging s *me . bonds of said Village shall be issued in the amount of ee Thous-4-1a Seven hundred Seventy and 931100 Dollars (U,770.93) of which Three Thousand Five Hundred Seventy Four and 34/100 Dollars 03,574,34) is the estimated cost of said improvement according to report of Engineer and One Idundred Ninety -Six and 59 ,1100 Dollars 0196.59) is the interest for one year thereon. Section 2. Said bonds shall be designated as the, "Macbeth Avenue Sle.gging Improvement Bonds" shall be of the denomina- t tion of $ 750.00 each except the first bond which shall be-$ 770.93 1 shall be dated October 1, 19 29 ; shall draw interest at the rate of &.1� per centum per annum payable semi- annually on the first days of April.and October in each year, until.presentation and surrender of intarest coupons to, be attached to said bonds bearing the facsimile signature of'the Clerk and } shall be due and payable as follows: