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<br />{ oyainance No• 302
<br />Y '��giCj (.,tll.]ky ;'�44 fit W ii� Y �1;J,,�,� t'.1 orUi4s `�il'f� 1VCi. 111 �Y%LJwpC4 L'CLr.
<br />Mr. Stine
<br />,���
<br />Wage O �I(artka c�i:zlStfYir Ata�O
<br />An Ordina n cezxi:?..
<br />To issue bonds in anticipation of the collection of the Special Assessment
<br />for tho improvement of Gr,,Ce hoed frog Llastiek Road to Elm Road in the Village
<br />of North Olmsted by grading, draining and slagging sine, n.nd repealing Ordinance
<br />No. 283 passed Iray 21, 1929.
<br />WHEREAS, the Council of the Village of North Olmsted , Ohio, has here-
<br />tofore by resolution duly adopted on the 5`w`day' of -April 19 27 ,
<br />" declared the necessity to improve Grace oad Eron Rastick Rord,to elm
<br />Road
<br />in the Village, of ,tlorth Olms ted by rading,
<br />dr>s.r.irrr end slr�ao�irc sZme
<br />in.accordance, with the plans and specifications therefor, and of levying a
<br />special assessment upon the property abutting on said road to pay for said
<br />improvement, all in strict conformity to laws and
<br />WHEREAS; the notes, issued in anticipation of the issuance of the bonds.
<br />hereinafter referred to, are about to fall due, and,
<br />WHEREAS, this Council has requested the Village Clerk to issue his cer-
<br />tificate as to the estimated life of said improvement proposed to be con-
<br />structed from the proceeds from the bonds hereinafter referred to and the
<br />Village Clerk has certified 'to this Council such estimated life as eight
<br />years and has further certified the maximum maturity of such bonds as
<br />eight Y
<br />earsi and
<br />WHEREAS, this Council estimates that a tax for said bonds will first
<br />appear upon the duplicate for the tax year 1930 ' , and the final tax
<br />settlement with the County Treasurer next fol oT ng the inclusion 'of a tax
<br />for,this issue in the annual budget of,the County Auditor, as provided by
<br />law will be obtained not earlier than the first days of Septbmber 19 :,,1
<br />and will require 52c? CO for interest until such taxes are col-_
<br />lected and available,
<br />NOW THEREFORE, be it ordained by the Council of the Village of Nort}, C) I' ted
<br />State, of Ohio, two - thirds of the members elected thereto being presenan-!"
<br />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 Grace Road
<br />to Min Road
<br />in the village of North Olmsted by grading, drat ning and slagging sans
<br />bonds of said Village shall be issued
<br />in the amount .of ine TFousn rid 7 e ;3undred Fighty-vix Ord 08 /100 Dollars
<br />(. 998G.OF3) of which Nine Thousand „
<br />' Four.. Hundred
<br />Sixty -Five an�� 48100' Dollars
<br />($9465.48)
<br />is the estimated cost of said improvement according to report of Engineer and
<br />hl.�nir,a Tivnnty rr(I roznn DoaIFrs
<br />is the interest for one year "thereon.'
<br />Section 2. Said bonds 'shall be designated as the "Grace 'Road
<br />'-
<br />S1ag,Uirg Imrroiement Bonds„
<br />shall be of the denomina-
<br />tion of ,$ 1000.00 each except the first bond which shall be $ 986.08 ;
<br />shall be dated 0,3-i-.ober 1 19 2:; shall draw interest at the. rate .of 5-1/2.
<br />per centum per annum payable semi- annually on the first days of April and
<br />October in each year, until presentation and surrender of interest coupons to
<br />be attached to,said bonds bearing the facsimile signature of the Clerk and
<br />shall be due and payable as follows;-
<br />
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