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*,r <br />t i ri 6i4X.'e." � y� <br />04o'-') in k,'»1'I <br />L u ��,� �,ur��a �� w��l ViI1a „e ix� Urdina►uce No. 111 � ".Ordinance No. ZIT <br />i, 1a Mr. Biddulph <br />iate.....,....,...e...,�� 21a - - - - -- - - -- - - - -- - <br />vIt erk ()f iI t 4, • £ iticztli i}li stcd, Otiic� <br />An Ordinance <br />To issue bonds in anticipation of the collection of the Spacial Assessment <br />for the improvement of Burrs F-oad for the entire length of said road by grading, <br />draining and constructing sidewalks on both s ides thereof. <br />1 <br />IM PEAS, the Council of the Village of North Olmsted .� Ohio,, has here- <br />tofore by resolution duly adopted on the 21 day o ugimt 19 28, <br />declared the necessity to improve Burns Road for the entire length of <br />�f <br />said road in the Village of North Olmsted by <br />rading draining^ and constructing sidewalks on both c ides thereof <br />in accordance with the plans and specifications therefor, and of levying a <br />} special assessment upon the property abutting on said road to pay for said <br />improvement, all in strict conformity to law, and, <br />` 7WREAS, the notes, issued in anticipation of the issuance of the bonds <br />�o hereinafter referred to, are about to Fall due, and, <br />TMREAS, this Council has requested the Village Clerk to issue his car - <br />' tificate as to the estimated life of said improvement proposed to be con - <br />structed from the proceeds from the bonds hereinafter referred to and the <br />Village Clark has certified to this Couneil'suchestimated life as ten <br />years and has further certified the maximum - maturity of such bonds as <br />ten years, and, <br />M]EE AS,.this Council estimates that a tax for said bonds will first <br />appear upon the duplicate for the tax year and the final tax <br />settlement with the County Treasurer next lowing the inclusion of a tax <br />for this issue in the annual budget of the County Auditor as rovided by <br />law will be obtained not earlier than the first days of Z:�;i 1 9 1/ <br />and n 1 require $ 2 8Z. 1 0 for interest until such axes are col- <br />lected and available, <br />NOW TFFUMFORE, be it ordained by the Council of the Village of .North Olmsted <br />State of Ohio, two - thirds of the members elected thereto being presen an <br />concurring: - <br />s ►; Section 1. That for the purpose of raising money in anticipation of the <br />levy and collection of Special Assessment for the improving of Burris Road <br />for the entire length of said road <br />in the Village of North Olr`zted by _grading,, draining- arxl constructing <br />sidewalks on both sides thereof <br />bonds of said Village shall be issued <br />in the amount 0? Five ousar our Hundred Thirty, asxl 35, 100 Dollars <br />05,430.35) of which Five Thousand One' luixlred <br />Forty Seven and 25 100 Dollars (05,147x25) <br />is the estimated cost of said improvement according to report of Engineer and <br />Two Hundred E, Three and 10 %100 Dollars ( 243.10) <br />is the interest for one year thereon. <br />Section 2. Said bonds shall be designated as the , "Burns Road SidoWrIlk <br />7snproveraart Borxis" shall -be of the denomina- <br />tion of 5 . ♦ each except the first bond which shall be $ 480.35 ; <br />shall be dated p 19 p; shall draw interest at the rate <br />of 6-11s. <br />� <br />per centum per annum payable semi - annually on `the first days of April and <br />October in each year, until presentation and surrender of interest coupons to <br />be attached to said bonds bearing the facsimile signature of the Clerk and <br />shall be due and payable as- follows <br />