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<br />t Ordinance Noi. / .
<br />Mr
<br />l;I Lltt! �;1J;lilCli C>1 :i:ali Vlll;a,�i! iri OT'�ItaLl�' N0. 111 (fJ.33CCi DcU.
<br />An -Or-d i c e # � V V�,;gP Pt Nv:tii^(Jlmstea,
<br />natr .
<br />To issue bonds in anticipation of'-the collection of the Special Assessment
<br />for trio improvement of.Grace`Road from Mitiek Road to Elm Road in tho Village
<br />of North Olmsted by gre.ding, draining and slagging same..
<br />_+ YMREAS,, .the Council of the Village of North Olmsted , Ohio, has here -
<br />tofore by resolution duly adopted on the Sth day of April 1927 ,
<br />declared the necessity to improve Grace Road from 11astick toed to
<br />Slm Road in the Village of North Olmsted by
<br />grading, : draining e.nd slagging same
<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 />W$EREAS, the notes, issued in anticipation of the issuance of the bonds
<br />hereinafter referred to, are about to fall due, and,
<br />WMPEAS, this Council has requested the Village Clerk to issue his cer.
<br />tifioate 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 Clerk has certified to this Council such estimated life as'ei�. t
<br />Y -years and has further certified the maximum maturity of such bonds as
<br />eight years, and
<br />WHEREAS, this Council estimates that a tax for said bonds will'first
<br />appear upon the duplicate for the tax year 1929 , and the final tax
<br />settlement with the County Treasurer next following the inclusion of a tax
<br />for this issue in the annual budget of" the "County Auditor 'as provided by
<br />law will be obtained not earlier than the first days of Se ember 1910 `
<br />and will require 160.42 for interest until such axes are col
<br />lected and available,
<br />NOW _THEREFORE, be. it "ordained by the Council of the • Village of K rrtth Glued
<br />State of Ohio, two- thirds of the members elected thereto being present and
<br />concurring: -
<br />Seetion•l. That for the purpose of raising money in anticipation,of the
<br />levy and.collection of Special Assessment for the improving of Grace Road
<br />From 11astick Road to E lm Road
<br />in the Village of North Olmsted 'by_ grading, draining and slagging stme
<br />bonds of said 'Village- shall-,be issued
<br />'in the amount o Thousand jdrtn Hundied Ton end "42100 Dollars
<br />T 1 Srl
<br />of which l.j;ight 1hosand Seron Ru�dred
<br />_Fifty and no/100 Dollars ($80760.00)
<br />is the estimated cost of said improvement accord g to report of Engineer and
<br />R .f
<br />One Thwdrad Bixtz a2d 42/20a Dollars (0160,42 )
<br />S,s the interest for thereon .
<br />four'. youths
<br />Section 2. Said bonds shall be designated as the °'grace Road _
<br />Flagg g rmtarovement Bonds' `, shall be of the denpm.itiA-
<br />tion of $1004 and' $750' each eaccept the first bond which shall be $ 910,42 s
<br />shall be dated
<br />1 1s 1929; shall draw interest at the'rate of
<br />per centum per annum payable semi- annually on the first days,'of April and
<br />Odtober`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 />
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