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Section 8.. '.That for-the purpose of providing the necessary funds to <br />pay the interest on the foregoing issue of bonds promptly when and as the <br />same falls due, and- also to create' and maintain a sinking fund sufficient <br />to discharge the said'bonds`at maturity,'there'shall be' and'is hereby <br />levied on'all the taxable property of the Village of North Olmsted in <br />addition to•all other taxes, a'direet_ tax annually during a period or <br />which said bonds are to run in an .amount sufficient to provide for any <br />deficiency in�the levy, payment or collection of said assessments as the <br />same fall .due..:. <br />That'saidy tax shall be and is hereby ordered computed -certified, <br />levied and extended upon` the tax.. duplicate and collected by the same of-, <br />ficers, in the same manner and at the same time that the taxes for general <br />Purposes for each "of eaid'years­ are certified, extended and collected. <br />That all funds derived from said tax levies hereby-required'. shall be <br />placed,in a separate „ iand distinct fund, whch,.together, with all.interest.. <br />collected on.the same shall be irrevocably pledged for -.the payment of the <br />interest and principal of said bonds w n and as the same fall due. <br />Section 9 That Ordinance No, 28�Passed May 21, 1929 be and the same is <br />hereby re ea] <br />eet�on . This Ordinance shall take effect and be in force from and <br />after:the, earliest period allowed by law. <br />Read the first time September 17, 1929: . <br />Moved by Der.. Bidwell seconded by Mr. Seltzer that the <br />statutory; rule ,be suspended and that Ordinance No. "301 - ”- be'read imme <br />diately.the,se.cond - and third.times:and put upon its passage. The'affirma- <br />tive-vote on., said ; motion eras as follows : - Biddulph, Bidwell, Christman, <br />Seltzer;: Stine. <br />Thereupon the was read the <br />'s Ordinance' second •and third times and put upon <br />its passage and'.the affirmative Vote:thereon was-as follows:- Biddulph, <br />Bidwell', Christman Seltzer, Stine. ` <br />Ordinance passed September 17, 1929 <br />Approved and signod by, the Mayor,: September, 17, 1929 <br />1 <br />