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aoA <br />t <br />Ordinance No. z. Z v... <br />An Ordinance <br />To amend Ordinance No. 176 of the Village of North Olmsted entitled "An Ordi- <br />nance to issue bonds in anticipation of the collection of the Special Assess.• <br />aent for the improvement of that portion of Maple Ridge Road, which lies in <br />North Olmsted Village between Hall Road and Clague Road ". <br />=REAS, the council of the Village of North Olmsted, Ohio, has hereto- <br />fore by resolution duly passed on the 11th day of May, 1926, declared the nec. <br />essity of improving that portion. of Maple Ridge Road, which lies in North <br />Olmsted Village between Hall Road and Clague Road by grading,.draining and <br />slagging same, and of levying a special assessment.upon the property abutting <br />on said road to pay for said improvements all in strict conformity to law, an <br />IMREAS, this council has requested the Village Clerk to issue his certi <br />ficate as to the estimated life of said improvement proposed to be constructs <br />from the proceeds from the bonds hereinafter referred to and the Village Cler <br />has certified to this council such estimated life as eight years and has furt <br />certified the maximum maturity of such bonds as.eight years,.and, <br />MEREAS, this council estimates that a tax for said bonds.will first ap- <br />pear upon the duplicate for the tax year 1926, and the final tax settlement <br />with the county treasurer next following the.inclusion of a tax for this issu <br />in the annual budget of the county Auditor, has provided by law will be obtai <br />ed not earlier than the first days of December 1927 and will require $482.80 <br />for interest until such taxes are collected and available, <br />NOW TFEREFORE, be it ordained by the Council of the Village of North Olm <br />stem, State of .Ohio, two - thirds of the members thereto concurring <br />Section 1. That for the purpose of raising money in anticipation of the <br />levy�and collection of Special Assessment for the improving of that portion o1 <br />Maple Ridge Road, which lies in North Olmsted Village between Hall Road and <br />Clague Road by grading, draining and slagging the same bonds of said Village <br />shall be issued in the amount of Nine Thousand Four Hundred Sixty One Dollars <br />and one cent ($9,46110'01) of which Eight Thousand Nine Hundred Seventy -Eight <br />Dollars and Twenty -One cents is the estimated.cost of said improvements ac- <br />cording to report of engineers and Four Hundred Eighty -Two Dollars and Eighty <br />Cents is the interest for one year thereon. <br />Section 2* Said bonds shall be designated as the "Maple Ridge Road im- <br />provement Bonds "; shall be of the denomination of 4,000.00 each except the <br />first bond which shall be Four Hundred Sixty -One Dollars and One cent, (0461.1 <br />shall be dated September lot, 1926; shall draw interest at the.rate of 5 -1 /2ga <br />per annum payableseemi- annually on the first days of April and October in eacl <br />year, Upon presentation and <br />surrender <br />of <br />interest coupons to be attached to <br />said bonds bearing the facsimile <br />signature <br />of the <br />Clerk and <br />shall be due and <br />I <br />payable as follows:- <br />1* April <br />lot, <br />1928 <br />. . . <br />. <br />. . <br />. <br />461.01 <br />2* April::^ <br />1st, <br />1928 <br />. * * <br />. <br />1000.00 <br />3. October <br />1st, <br />1928 <br />. . . <br />. <br />.. _. <br />1000 *00 <br />4, April <br />1st, <br />1929 <br />. . . <br />. <br />1000000 <br />5. October <br />lst, <br />1929 <br />* <br />. <br />... .'. <br />1000000 <br />6. April <br />lot, <br />1930 <br />. . . <br />. <br />. . <br />1000 *00 <br />7. October <br />lst# <br />1930 <br />. <br />.. <br />. <br />.`. <br />1000000 <br />i <br />80 April <br />lot, <br />1931 <br />* . . <br />. <br />. . . . <br />. . . . . <br />1000.00 <br />99 October <br />1st, <br />1931 <br />. . . <br />1000000 <br />10. April <br />lot, <br />1932 <br />... <br />.. .' <br />1000 *00 <br />