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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 />"Burns.Road Slaggirz Improvement Fund" and shall be dis-
<br />'bursed from said fund on proper vouchers, in payment of notes issued pur-
<br />suant to Ordinance No. 254 passed August 7, 19 29in 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 6. 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 of North 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.
<br />1.
<br />October 1,
<br />1931 . . . .x'294.$6
<br />11«
<br />October 10 1933 .v.
<br />.,950.00
<br />N.
<br />October 1,
<br />1931 . . .
<br />950000
<br />12.
<br />October 18 1333
<br />950.00
<br />Z.
<br />October 1,
<br />1931 . . .
<br />950.00
<br />13.
<br />October 1, 1934
<br />. 950.00
<br />4.
<br />October ,l,
<br />1931 .
<br />950000
<br />14.
<br />October 1, 1934
<br />950.00
<br />5.
<br />October 1,
<br />1932 .
<br />950000
<br />15.
<br />October L, 1934
<br />950.00
<br />6.
<br />October 1,
<br />1932 .
<br />950.00
<br />16,
<br />October 10 1934.
<br />950.00
<br />7.
<br />October 1,
<br />1932 .
<br />950.00
<br />17.
<br />October 1s 1935 . .
<br />. 950.00
<br />a.
<br />October 1,
<br />1932 .
<br />950.00
<br />18.
<br />October 1, 1935 . .
<br />. 950.00
<br />9.
<br />October 1,
<br />1933 .
<br />950.00
<br />19.
<br />October 1, 1.035 . .
<br />. 950000
<br />10.
<br />October 11
<br />1933 ._.
<br />950.00 f
<br />20.
<br />October 1, 1935 . .
<br />. 950.00
<br />which maturities
<br />are hereby
<br />determined
<br />to be in substantially
<br />equal annual
<br />installments.
<br />'
<br />Section 3.
<br />Said bonds
<br />to be prepared
<br />by the Village Solicitor, signed
<br />by the Mayor and
<br />Village Clerk, sealed
<br />with the Village Seal;
<br />shall express
<br />upon
<br />their face
<br />the purpose
<br />for which
<br />they
<br />are issued and the
<br />fact that
<br />they
<br />are issued
<br />pursuant to
<br />law and this ordinance; shall be payable, both
<br />principal
<br />and interest, at the office
<br />of the North Olmsted
<br />Banff; Company
<br />of YnrUi Olmsted Ohio
<br />,
<br />and
<br />shall bear such consecutive num -..
<br />bers
<br />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 />"Burns.Road Slaggirz Improvement Fund" and shall be dis-
<br />'bursed from said fund on proper vouchers, in payment of notes issued pur-
<br />suant to Ordinance No. 254 passed August 7, 19 29in 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 6. 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 of North 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.
<br />
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