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•N� F. n.. ro/ <br />j <br />i <br />, ..� [ 1 .i � y.Y ti /� F iii Ci • 1. _ <br />' G <br />F 19 y� <br />-- <br />V�it.4illl: <br />y <br />% /.,g Ordinance: No. <br />ta/^ <br />Bar. <br />An Ordinance <br />Providing for the issuance of bond's-of the Village of North-Olneted for the <br />purpose of constructing a Shelter House in the Park' <br />MEREAS,.this.council has requested the Village Clerk to issue his cer= <br />tificateaas to the estimated life of the improvement to be oonstrueted from <br />the proceeds of the bonds hereinafter referred to, and the Village Clerk has <br />certified to this Council such estimated life as exceeding five years, and <br />has further certified the maximum maturity df such bonds as fifteen years, and <br />WHERFAS, notes issued in anticipation of the issuance of the,bonds <br />hereinafter referred to are about to fall due, <br />NOW THEREFORE, be it ordained by the Council of the Village of North <br />Olmsted, State of Ohio; <br />Section 1. That it is deemed necessary, to issue the bonds . of the Village <br />of North Olmsted in the principal sum of Nine Thousand Two Hundred Eighty -Four <br />and noZlOO Dollars.(090284.00), in order to provide a fund-for the.purpose <br />of. constructing a Shelter House in the Park, and.to; provide a fund for the <br />payment of not to exceed one year's interest on said , bonds. That such bonds <br />shall be issued in one lot and that anticipatory note-, F' -, se-bAen�� issued <br />in anticipation of the issuance of .such bonds..:. <br />Section 2. That bonds of =the.Village of North Olmsted shall be issued <br />in the principal sum of $9,2840'00 for the-purpose aforesaid.- Each of said <br />bonds shall be in'the denomination of $1000, except the first bond which shall <br />be in the denomination of 0284.00, and said bonds shall be dated October 1, <br />1929, and shall bear interest at the rate of five and one -half (5 -1/21.) per <br />century per annum, payable semi - annually, on the first days of April and <br />- October of,each year until the principal sum is paid, provided','bcmievers that <br />if said bonds are sold bearing a different rate of interest than hereinbefore <br />specified, such bonds shall bear such rate of interest as may be provided for <br />in the resolution of council approving the award thereof. Said bonds shall <br />mature as follows; <br />On.Apr;1 1, 1931 one,bond for $284.00; and one bond for.01000 on <br />,April 1, in each of-the years from 1932.to 1940, both,;inolusive, <br />which maturities are hereby determined -to be in` substantially <br />equal annual installmentse <br />The prinoipal.and interest of all of said bonds shall,be, payable at the <br />office of the in the Village of <br />Section 39 That said bonds shall express upon their face the purpose <br />for which they are,issued; that they are issued in pursuance of this ordinance <br />signed by the Mayor and Clerk, and sealed with the `corporate <br />and shall be _ <br />.seal of said Village. The interest coupons sittached.to said bonds shall bear <br />the facsimile signature of the Village Clerk* Said bonds shall bear such <br />consecutive numbers as the Village Clerk shall ddtermine. <br />Section 4. That for the purpose of providing the necessary funds to pay, <br />the interest on the foregoing issue of.bonds,.promptly when, and as the same <br />falls due and also to provide a fund sufficient to discharge the said serial <br />bonds at maturity, there shall be'and is hereby levied on all the taxable <br />property in said Village of North Olmsted in addition to all other taxes, a,, <br />direct tax annually during the period said bonds are to run in on amount suf- <br />