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i <br />. I a <br />Oranance No.zff.e_ »... <br />7 1 <br />mr••�� •••i•••fir.••••• j <br />r <br />An ordinance <br />To issue bonds in anticipation of the collection of the Special <br />assessment for the improvement of West 231st Street in the Vil•• <br />lage of North Olmsted by grading, draining *and *slagging same* <br />WHEREAS, the council of the Village of North Olmsted, Ohio, <br />.has heretofore by resolution ;duly passed on the 3d day of August, y <br />1926, declared the necessity of improving West 231st Street in <br />the Village of North Olmsted by grading,draining and slagging <br />same, and of levying a special assessment upon the property_ abutU• <br />ing on said road to pay for said improvment, all in strict con- j <br />formi ty to lam, and, <br />WHEREAS 'this council has requested ' the Village Clerk to is -� <br />sue his certificate as to the estimated life of said improvement -I <br />proposed to be constructed from the proceeds from the bonds herein«• <br />after referred to and the Village Clerk has certified to this <br />Council such estimated life as eight years and has further certi^1 <br />fled the maximum maturity of such bonds as five years, and, <br />t <br />WHEREAS, this council estimates that a tax for said bonds will <br />first appear upon the duplicate for the tax year 1927, and the I <br />final tax settlement with the county treasurer next following thel <br />inclusion of a tax for this issue in the annual budget of the i <br />county auditor; as provided by lam will be obtained not earlier ' <br />than the first days of Decenber_1927 and will require $463 »00 for; <br />interest until such taxes are collected and available, <br />NOW THEREFORE, be it ordained by the Council of the Village <br />I <br />of North Olmsted, Mate of Ohio$ two-thirds ,of the members thereto <br />concurring :. <br />Section 1. That for the purpose of raiaing money in antici <br />pation of the levy and collection of Special Assessment for the <br />improving of West 231st Street in the Village of North Olmsted by <br />grading, draining and slagging the same, bonds of said Village 1I <br />shall b; issued in the amount f Eight Thousand Eight Hundred <br />Eighty-One and 20/].00 Dollars 8881.20) of Which Eight Thousand s <br />Four Hundred Eighteen and 20/4100 bollars ( 08418.20) is the esti. <br />mated cost of said improvement according to the report of the <br />engineer and Four Hundred Sixty Three Dollars ($463.00) is the <br />interest for one year` thereon. <br />Section 29. Said bonds shall be designated as the "West 231st <br />Street Improvement Bonds "; shall be of the denomination. of $900.00 <br />each except the first bond which -shall be Seven Hundred Eight -One <br />and 20 00 <br />/1 Dol ar <br />l s <br />(07 8 1.20) shall be dated April 1, 1927; shall <br />drag interest at the rate. of -1 0 <br />5 /?°, per annum ;payable semi..anryually <br />on the' first days of April and October in each year, upon presen- I <br />tation.and surrender of interest coupons to be attached to said <br />bonds bearing the facsimile. `signature of the Clerk and shall' be <br />due and.payable,as folio -as: <br />1. April 1, 1928 •$781.20 6. October 1, 1930. • 900, '' <br />2. October 1, 1928• • 900.00 7* Agrtl .1, 1931• . 900. <br />( 34 `April 1, 1929• goo .00 <br />8, October 1 1931. . goo. I <br />4• October 1 1929• . 900.00 9• April 1, 1932• '... 900, I <br />�• April 1, 1930• . . goo.00 - 10. October 1, 1932•. 900, I <br />I� ' <br />