04-04-1922 to 12-31-1929 Ordinance 074 to 319

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G'> t;r $ )7 y Via th zc: zi I10 n wzt u, , ntion CF t '.o for 1 F 1 tiXr Ii ix ty ��f j'aEttcr .7, :)— aci C'. cf' } on tlic ' ILN I. {1o1 11J rilb 4 '� i' .i C.'I said li'i ' e .pv.Li�ih uz ..•sC,t.. 1 tt 1! (Al -.�� Gi i.;iit �Iji11�;�J itl Vr(tliiw�l {n(� 140, jil j «j c 1'i i. Ordinance No. u An Ordinance providing for the issuance of bonds of the Village of North Olmsted for the purpose of`construction ` of a Fire House and;purchasing, Fire ,Apparatus*, TMREAS, this council has requested the'Village Clerk to issue his'certi- ficate as to the'eIstimated'life of'.the improvement to be 'constructed, and appa- ratus to be purchased from the proceeds of the bonds hereinafter referred to, and the Village'Clerk has certified to this Council such estimated life as exo.eeding five years,and has further °certified the maximum maturity of such bonds as th-1rteen-.7eVa....&hd two months,, and 7JHEREAS, notes -issued in anticipation of the °issuance of the bonds hereinafter referred to are about to fall due, NOW THEREFORE, be it ordained by the Council of the Village of North Olmsteds State of Ohio:- Section 1, That it is'deemed'necessary to issue the bonds of the Village of North 0lmsted`IA the principal sum of Twenty -Six Thousand Nine Hundred Two and 50100 Dollars ($26.902 *50)9 in order to provide a fund "for the purpose of constructing `a Fire House and purchasing Fire Apparatus, and to provide a fund for'the payment`of'not torexceed one year's interest on said bonds* That such bonds shall be issued in one lot and that anticipatory notes have 'ibeon' issued in anticipation of the issuance of such bonds* Section 2* That bonds of the Village of North Olmsted'shall be issued in the principal sum of $26,902950 for the purpose aforesaid.'', Each =of said bonds shall be in the denomination of 07000 do 'x$700, except the first bond - which shall be in the denomination of $ 602 *60 , and said bonds shall be dated October 1. 1929' and shall bear interest at the rate of five and one - half (5 -1/2%) per centum per annum, payable semi - annually, on the first days of April and October of each year until the principal sum is paid, provided, hamevers that if said bonds are sold bearing a different rate of interest than hereinbefore specified, suoh,boads - shall bear such rate of interest as may be provided for in the resolution of council approving the award thereof* Said bonds shall mature au follows: on October 1, 1931 one bond for $602.50 and tyro bonds for $1000 each; and two bonds for $1000 each and one bond for,$?OO on'Ootobor 1, in each of the years from 1932 to 19400 both.inclusive, *hick maturities are hereby determined to,be in substantially equal annual installments. The prinoipal'and interest of all of said bonds shall be payable at the office of the "Zo t1 `O lrf�'stvd',EAnk'tGoi patiy iii ' tli =V lltt ! °af r27ortla`'OlTistc�;''; Section 3* That said bonds shall express upon their face the purpose for which they are issued; that they are issued in- pursuance of this ordi- nance and.shall,be signed by the Mayor and Clerk, and sealed with the corpor- ate seal of said Village* The interest coupons attached to said bonds shall bear the facsimile signature of the Village Clerk* Said bonds shall bear such consecutive numbers as thajillage Clerk shall determine* Section 4. That for -the purpose of providing the necessary funds to pay the interest on the foregoing issue of bonds, promptly when, and as the same falls due -and also to provide a fund sufficient`to discharge the said serial bonds at maturity,` there shall be And is hereby - levied on all the taxable property in said'Vill.age of North Olmsted in addition to all other taxes, a direct tax annually during the period said bands are to run in an amount sufficient to provide funds to pay interest upon said bonds as and tivhen the same falls due and also to provide a fund for the discharge of.the principal