|
j
<br />,I
<br />of said serial bonds at,maturity, which tax shall be not less than the
<br />interest and sinking fund tax 'required by Section 11 of ,article XIZ of the
<br />Constitution.
<br />Said tax shall.be and is hereby,ordered computed, certified, levied and
<br />extended;upoa the tax duplicate and collected.by the sane officers,:in the
<br />same manner and at the sane time that taxes for general purposes-for each of
<br />said years are certified, extended and colleoted• Said tax shall be placed
<br />before and in preference to,all other items and for the full amount thereof*
<br />The funds derived from,said. tax levies'hereby required shall be plaoed`in a
<br />separate and distinct fund, which.together_with.all interest collected on
<br />the same, shall be irrevoeably- ,Plt-dgedfor.,the.payment of the interest and
<br />principal of said.bonds when and as the same fall duo,
<br />Section 5. ,,That said bonds, shall be first offered at par-and accrued
<br />interest to the Trustees 'of the Sinking Fend''in' their official''capaicty. 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 pro-
<br />vided by law under the direction of the Finance Co=ittee and the Village
<br />Clerk, but not for less than their par value and'aoorued interest; the bond
<br />sale advertisement shall state that any;one desiring to do. so, may present,
<br />a bid or bids for suchbonds' based upon their bearing a different.rate of.'
<br />interest than hereinbefore fixed,,provided,''howevers that.there a fractional
<br />interest rate is.bid such fraction shall be one- quarter of one,per.cent or
<br />multiples thereof; the.proceods from the sale of said,bonds, except the`promim
<br />and accrued interest thereeri'and the amount of said bonds issued for interest,
<br />shall be used for the purpose aforesaid and for no other purpose; the premium
<br />and accrued ,'interest received from such sale and the amount of said bonds
<br />issued for interest shall be transferred to the Trustees of the Sinking Fund
<br />to be applied; by then in the payment of the principal and interest of said
<br />bonds, in the manner provided by law.
<br />Section 6, The Village Clerk is hereby directed to forvmrd a certified
<br />copy of this ordinance to the County.Quditor.
<br />Section 7. That this ordinance shall` take effect. and be in force from
<br />and after the earliest period allowed by law.
<br />Read the first time September 17#1929
<br />Moved by Mrs Bidwell seconded by gr. Sel -:zer that
<br />the statutory rule be suspended and that Ordinance be read immediately the
<br />second and third times and put upon its passage. The affirmative -vote on said
<br />motion was as. follows: Biddulph, Bidwell, Christman, Seltzer,64sM*44rp Stine
<br />Thereupon the resolution read the second and,thrid times and put upon its
<br />passage and the affirmative vote thereon vas as follows: Biddulph, Bidwell,
<br />siorkiesecr; Seltzer, Stine, Christman
<br />Ordinance passed September 17,.1929
<br />,Jpproved by the Mayor and signed, September 17, 1929
<br />•L. �. Coen Mayor
<br />E. Y* Chr s ; n" �
<br />
|