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<br />if, lra€ �)' c? :� i t x i r. �;,� .:i)n as ett(Q?'A n. ce No. 301
<br />1! Co(In'!iI of ki ltd 111 passed 1 ,,
<br />1�! lUfl:�f Mr. Stine
<br />7/ I Ina
<br />4sk of theta of North C)Imst x1, Qhio
<br />To issue bonds in anticipation of the collection of the Special Assessment
<br />for the improvement of Lucille Drive froa Webster Avenue to Grace Road in.the
<br />Village of North Olmsted by grading, "draining and slagging same and repealing
<br />Ordinance No, 281r;assed May 21, 1929.'
<br />WHEREAS, the Council of the Village of North Olmsted ., Ohio, has here -
<br />tofore by resolution duly adopted on the 5th day of_AEril 19 29 ,
<br />declared the necessity to improve Lucille Drive from Webster Avenue to
<br />Grace Road in the Village of North Olmsted by
<br />grading, draining and slagging same
<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 law, 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 five
<br />years and has further certified the maximum maturity of such bonds as
<br />five years, 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 o owing 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 September 19 31
<br />and will require $ 178.35 for interest until such taxes are col-
<br />lected and available.,
<br />NOW THEREFORE, be it ordained by the Council of the Village of North Olmsted
<br />State of Ohio, two- thirds of the members elected thereto being present an
<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 Lucille Drive
<br />Fron Webster Avenue to Grace Road
<br />in the Village of North Olmsted by grading, draining ana slagginG sane
<br />bonds of said'Village shall be issued
<br />in the amount of Three-Thousand Fo undred Twenty one and 14/100 Dollars,
<br />($32421.14) of which Three Thousand Tffo Hundred
<br />Forty two and 79/100 Dollars ($3,242.79
<br />is the estimated cost of said improvement according to report of Engineer and
<br />One Hundred Seventy Eight and 35100 Dollarm ($178.35)
<br />is the interest for one year thereon.
<br />Section 2. Said bonds shall be designated as the *Lucille Drive Slagging
<br />Improvement Bonds" shall be of the denomina
<br />tion of $ 700,00 each except the first bond which shall be $ 6210'14
<br />shall be dated October T,- 19 29; 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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