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<br />ficient -,to provide funds to pay interest upon said bonds as and when the
<br />a
<br />the 'same falls due and also to mvide a fund ,for the discharge of the princi
<br />:. pal 'of said serial bonds at maturity, which tax. shall `be *not`, less than the
<br />interest and sinking fund .•bay: "required ..by Section 11 of a Article XII of the
<br />Constitution.
<br />'Said tax shall'be' and is. hereby ordered computed,: certified, levied and.'
<br />extended upon.the.,tax duplicate and:collected by;the same officers, in the
<br />:same manner and at the same time that taxes -for general purposes for each of
<br />said years are certified, extended and collecated. Said tax shall be placed
<br />bef ore and in preference• to'.a.11'"Other 'it ema"'and "for °.the ;,full "amount ".thereof]
<br />The funds derived froix said tax levies .hereby required shall be placed in'a"
<br />separate ", and distinct fund, „vihic:h• to,,,ether, with all :interest collected on
<br />k
<br />the Games shell _be irrevoeably'pledeed for the pynent of the interest and
<br />principal of said bonds when and as the same fall due,
<br />Section 5, -' That said bonds shall be first 'offered' at par and accrued
<br />interest to the Trustees, of the Sinking Fund in their official capacity,' and
<br />if said trustees - refuse to� take • any or, all of -said bonds than. said bonds
<br />not zoo taken shall be advertised for public sale and sold in the` manner pro -
<br />vided by law 'under tile direction'of the Finance Cormnitteo and the Village.
<br />Clerk- but not for lets than their par.value and accrued interest;' the bond
<br />sale advartisoment shall -state that any one desiring to do sod may present
<br />a bid or bids for such bonds based upon their bearing a different rate of
<br />interest than herein before fixed, provided, however, that where a fractional
<br />interest rate is'bid, such fraction shall'be, one - quarter of one per eent'or,
<br />multiples thereof; the proceeds from the sale of said bonds, except the
<br />premium and accrued interest thereon and the amount of • said bonds issued for
<br />interest, shall be used for the.' purpose` aforesaid and for-no _ other purpose; th
<br />premium and accrued interest received from such sale and the amount of said
<br />bonds , issued for interest shall be transferred to the Trustees of the Sini:in
<br />Fund to be applied by them; in : the payment of the pr ineipal' and ` interest rof.
<br />said, bonds,,- in -the manner X ovided by law:
<br />Section G. The Village Clerk is hereby directed to forward a certified
<br />copy of this ordinance to the County Auditoro
<br />Section 7.'- That. this ordinance shall take effect and be in force from_
<br />and after the earliest, period 'alloired by lawe
<br />;
<br />Re ad, the .first time September, 17, 1929,
<br />hovod by biro ,� seconded . by IV that
<br />the statutory rule be suspe tide Z- £at 0 rdinance.be r e a i is -e. y e
<br />'and "times
<br />aeobad -third and. pl}t' upon its 'passage. The affirms ive `vote on ,
<br />said motion was as followst Biddulph, Bidwell, Christman, Seltzer,' jakAmmlim
<br />Stine.
<br />Thereupon the resolution read the second and third times and put upon its
<br />passage'and• the affirmative vote thereon was as `follows: Biddulph, Bidwoll,
<br />Seltzer, Stine, Christman.
<br />Ord i.nance ` passed September 17," 1929
<br />Approved -by the Yayor and signed, September 17P 1929
<br />"L.,M Coe " - `Mayor
<br />. Mo Chr n" -Cle k..
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