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Ordinance NoJ..q:!..
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<br />i
<br />By r1;r , ............ , ..::�:
<br />An Ordinance
<br />Providing for the issuing of bonds of the:Village'of North Olmsted for
<br />the purpose of paying the portion of the Village of North Olmsted.in
<br />the iNprovement ' of Barton Road, Igo. 3 as provided in
<br />Resolution No. 225
<br />WHEREAS, by Resolution No. ....the Council of the Village of
<br />North Olmsted agreed to pay its'portion of the improvement of B�:rton
<br />Ruud, Fro. 3 according to the plans and specifications
<br />therein referred to$and,
<br />WHEREAS, this council has requested the Village Clerk -to issue
<br />his certificate as.to the estimated 'life of the improvement proposed
<br />to be made with the proceeds of the bonds hereinafter referred to, and
<br />' UN 1 4
<br />IC, the Village Clerk has certified to this Council such" estimated life as
<br />GX years and has further' certified tho' maximum maturity.
<br />of such bonds at I;t years, and,
<br />VITIEREAS, this Council estimates that a tax for said'bonds will
<br />first appear upon the duplicate for the tax year of 1927 ` and that the
<br />final tax settlement with the County Treasurer next following the in
<br />elusion of a tax for this issue in the'annual`budget,by the County
<br />Auditor, as provided by law, will be; obtained not earlier, than the 1st
<br />day of Ogt6b6r 1928+ and will require Four Hundred Sixty --Four
<br />and 51/100 T)ollgrs (!i,464.61) r interest until such
<br />taxes are collected and available.`
<br />NOVI, TIEREFORE, . be it, ordained by the Council of. the Village of
<br />North Olmsted, "County` of Cuyahoga and State; of Ohio: -
<br />Section 1. That it is deemed necessary to,issue the bonds of the
<br />Village of North Olmsted for the principal sum of Nine Thousand Seven'
<br />Hwidred Fifb,,, -Four end .7]/100 Dollars in order to provide a fund
<br />for the purpose of.paying to the County of.Cuyahoga a proportionate
<br />share of the, Village of North Olmsted, in the' improvement' of Berton .
<br />Road, Ito.-3 . and to provide a fund for the payment of not to exceed
<br />one yearis interest`on'said bonds.
<br />Section 2. That the bonds of the Village of North Olmsted be
<br />issued for the principal sum of Nina. Thousand Sev�l Fiunclr -, o�u• and
<br />^ eSaid
<br />1 be numbered
<br />73./100 Dollarfor the • purposes . aforesaid. bonds shall e ur
<br />from 1` to 20 ,_both inclusive, one of said bonds shall be in'
<br />the denomination of Two Hundred Fifty -Four. and 71/100 Dollars
<br />and 19 of said' bonds shall be in the denomination of Five hundred
<br />Dollars 0500.00) each, and said bonds
<br />shall be `dated April 1., 1927 , and shall bear interest at the rate
<br />of • five percent per annum payable somi- annually on the
<br />first day,of April . and' October, of each year until tho
<br />principal sum is paid.' Said bonds shall,maturo as follows: -
<br />1. April. 1, 1928. $254.71 11 April 1 1933. . 500.00
<br />2. October 1, 1928. . '. 500.00 lam. October I,- :1933.x. 500.00`
<br />Z.,, April 3, 1929. . ' . 600-00 April 1 1934. . . '500.00
<br />4. October .1, 1929. 500.00. 14. October 1, '1934, 5 00.04
<br />5. April ` 1930.. 500000 15. April J, 1935. 500.00
<br />October; 1, 1930. . 500.00 16. October. 1, 19-35*,* 500.001
<br />7. Apr i1 1, ;1931. . . 500.00 17. April 1, 1930.- . , 500.00
<br />8. October 2, -1931. 5017.00 is. October, 1, 1936. . . 500,00
<br />€
<br />9. Apri.1 1, 3 932.` 500.00 19. ,',.pr 11 110 1937 . S0( �.00
<br />Octcaber 1 , 1932. . . 500.00 20. October 1, , 1937. 500.00
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