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

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A '2- ')V:_ 71 of L :X OIL .' Ordinance No. 012 J "41 i'l OrdliiLXe 1;,J. J Mr. Biddulph Ordln4fble - --------- ------- i;i turz� � N�Qrtil To issue bonds in anticipation of the collection of the Special Assessment for - the improvement of Porter Road from Northern Avenue to Southern Avenue proposed by grading,, draining and constructing along i and upon both sides thereof a sawed sandstone or concrete sidewalk WHEREAS, the Council of the Village of North Opted , Ohio,, has here- tofore by resolution duly adopted on the 6 d ay -0 March 19 2S declared the necessity to improve Porter d from Northern Avenue U Southern Avenue proposed in the Village of North Olmsted by_� I gradi, d ngraining and constructing along and upon both sides thereof a wed w d sate atone sidewalk of the width of 4 ft and thickness of 2_1/2 inches or concrete 4 inches thick in accordance with the Aland 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, I WHEREAS) the notes, issued in anticipation of the issuance of the bonds hereinafter referred to, are about to fall due, and, WHEREAS, this Council has requested the Village Clerk to issue his car- tifioate as to the estimated life of.said improvement proposed to be con - y structed from the proceeds from the bonds hereinafter referred to and the Village Clerk has certified to this Council such estimated life as ten .years and has further certified the'maximum maturity of such bonds as ten 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 following 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 Sept-ember 1931 and will require $ 264.43 for interest until such taxes are col- lected and availab l;.., NOW THEMEFORE, be it ordained by the Council of the Village of N I orth Olmsted State�of Ohio, two-thirds of the members elected thereto being present an concurring:- Section'l That'for'the purpose of raising money in'anticipation of the levy and collection of Special Assessment for the improving of Porter, Road from Northern Avenue to Southern Avenue proposed in the Village of North Olnsted by grading,, draining- and constructing a sawed sandstone or concrete sidewalk on bath sides thereof bonds of said Village shall be issued in the amount o? Five Musand .5eveni;-.y-wo and 23/100 Dollars U 5,072.23) of which Four Thousand F, ight Iundred Seven and 80100 Dollars ($4,,807.80) is the timated cost of said improvement according-to, report of Engineerand, Two Hundred Sixty Four .and 13/1C0 Dollars. ('2G11,43) is the interest for one year thereoni Section 2.' Said bonds shall be designated as the "Porter Road Sidewalk Improvement Bonds" I , ;. shall be of the denomina- tion of ,$ 500,00 each except the first bond which shall I be $ 5702.23 shall be dated October 1# 1929 ;.shall draw interest,at the rate. of 5- per centum per.annum payable —semi-annually on.the first days of April and October in each year,$-until presentation and,surrender of interest coupons to be attached to said bonds bearing the facsimile signature of the Clerk and shall be due.and payable-as follows:- M