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'tf,w -y
<br />1.
<br />OctO'�ar
<br />1,
<br />1931
<br />•993.13
<br />11.
<br />0ctobr
<br />1 ,
<br />19V3
<br />•t�30.00
<br />29
<br />Octo'uJr
<br />1,
<br />1931
<br />9x0.00
<br />12
<br />rc�ober
<br />1,
<br />1933 •
<br />. . 90-0.00
<br />3,
<br />October
<br />1,
<br />1931 •
<br />980.00
<br />13.
<br />October
<br />1,
<br />1934 .
<br />. . 980.00
<br />49
<br />October.
<br />1,
<br />1931
<br />980.00
<br />lei.
<br />October
<br />1,
<br />1934 .
<br />. . 91130. 00
<br />5.
<br />Octo'uer
<br />1,
<br />1932
<br />980.00
<br />15,
<br />October
<br />1,
<br />1934 .
<br />. . 980.00
<br />G. October 1, 1932 980.00 10. October 1, 193`1 . . . 980.00
<br />7. October 1, 1932 °30.00 17. October 1, 1935 . . • 9%0000
<br />Do Octo`uar 1, 1932 ^50.00 15. October 1, 1935 . . . 3SO100
<br />9. October- 1, 1933 . . 0-0.00 19. October 1, 1935 . . . 930.00
<br />10, October 1, 1933 930.00 20, October 1, 1935 . . 950.00
<br />which maturities are hereby determined to be in substantially equal annual
<br />installments.
<br />Section 3. Said bonds to be prepared by the Village Solicitor, signed
<br />by the Mayor and Village Clerk, sealed with the Village Seal; shall express
<br />upon their face the purpose for which they are issued and the fact that
<br />they are issued pursuant to law and this ordinance; shall be payable, both
<br />principal and interest, at the office of the I7jort.a Olnsted Bank Company
<br />of i'ortl Olmsted, Ohio , and shall bear such consecutive num-
<br />bers as said committee or the proper officers of the Village may determine.
<br />Said bonds shall be first offered at par and accrued interest to the
<br />Trustees of the Sinking Fund of the Village in their official capacity, and
<br />if said trustees refuse to take any or all of said bonds, then said bonds
<br />not so taken shall be advertised for public sale and sold in the manner
<br />provided by law under the direction of the Finance Committee and the Clerk,
<br />but not for less than their par value and accrued interest; the bond sale
<br />advertisement shall state that any one desiring to do so, may present a
<br />bid or bids for such bonds based upon their bearing a different rate of-
<br />interest than hereinbefore fixed, provided, however, that where a fractional
<br />interest rate is bid, such fraction shall be one - quarter of one per cent,
<br />or multiples thereof.
<br />Section 4. That upon sale of said bonds said one year's interest, any
<br />premiums and the accrued interest realized therefrom, shall be paid to the
<br />Sinking Fund Trustees. The par value realized from the sale of said bonds,
<br />shall be placed in the Village Treasury, to the credit of the
<br />"Porter Road alagoing ImprasaLzant Fuii3" and shall be dis-
<br />bursed from said fund on proper vouchers, in payment of notes issued pur-
<br />suant to Ordinance Noa 2_ 0_passed August G, 19 29 in anticipation of
<br />the issuance of the bonds herein referred, to the proceeds of the sale of
<br />which notes was appropriated and actually used for payment of the expense
<br />of the improvement aforesaid, for which purpose said money to be realized
<br />from the sale of bonds issued pursuant to this ordinance is hereby appro-
<br />priated.
<br />Section 5. In the event any of the owners of any of said property so
<br />especially assessed shall pay their total assessments in cash within thirty
<br />(30) days of the date of the final passage of the ordinance levying such
<br />special assessments, the aggregate amount of bonds to be issued shall be
<br />reduced by deducting the amount so paid in cash from the total amount of the
<br />bonds to be issued, and the bonds herein provided for first maturing shall
<br />be correspondingly reduced by the omission of so many thereof as shall
<br />equal the amount of assessment so paid, or.by changing the denomination of
<br />one of said bonds, or both, as the case may be, and the amount to be credit -
<br />ed to the foregoing fund from the sale of said bonds shall be likewise re-
<br />duced by the amount of the assessment so paid in cash -for such improvements.
<br />Section 66 That all installments of said assessment and all portions
<br />thereof, together with interest thereon, shall be applied.to the payment of
<br />said bonds and interest as the same shall become due and to no other pur-
<br />pose whatsoever.
<br />Section 7. That the faith, revenue and credit of the Village of1iorth Olmsted
<br />are hereby pledged for the prompt payment of both principal and interest
<br />of the bonds hereinbefore described in accordance with the laws and con-
<br />stitution of the State of Ohio.
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