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<br />bit the �iVC Ill' "SC t;L Vll� ��,rU`�:! jj} �.3i,.j cdt,,)jr. tioo a-`l �4,1xi Ordinance No. �� ob
<br />by tho, Cot1i;Cii i;)v kfuid viilage itl .OrL!Iri nco Nu. 111 i,»`),�i -�
<br />Mr. AL
<br />a'ES.aw OAe.+R .".. ♦yr... ` rdinance :clth -
<br />' ., - ... ♦.. +.
<br />OeY�LUIg;e9fNgrt��a�1'A,,cP
<br />To issue bonds in anticipation of the collection of.the Special Assessment
<br />for tho improvement of Lucille Drive from- Webster'''Avenuo to Grace Road in the
<br />Village of North Olmsted by grading, draining,an& slagging same.
<br />WHEREAS, the Council of the Village of North Olmsted-, Ohio' has here-
<br />tofore by resolution duly adopted on the 5th day of April 19 27,
<br />F�} declared the necessity to improve LuailleDrive from Webster, Avenue to
<br />r
<br />Grace Road . in the Village -of North Olmsted by
<br />.grading, draining and 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 />MEREAS, the notes, issued in anticipation of the issuance of.the bonds
<br />hereinafter referred to, are about to fall`, due; and,
<br />WHEREAS,,this Council has requested the Village Clerk to issue.his cer-
<br />tificate as,to the, ostimated life of said improvement proposed to be con
<br />structed from the proceeds from the bonds hereinafter...re'ferred to`and.the
<br />F Village Clerk has certified to,this.Council such estimated life as five
<br />years. and has further certified the „maximum maturity of such bonds a-
<br />five years, and, {
<br />WHEREAS, this Council estimates that a tax for said bonds will first l
<br />appear-upon the duplicate for the tax year. 1929 , .and, the final .tax
<br />settlement with the County, Treasurer next following the . inclus ion of a tax
<br />for this issue in the annual budget of the.CountyAuditor, as provided by-.
<br />lava will be obtained not earlier than the first days . of September 19 30
<br />and will require 49.67 for interest until sucK taxes are,col=
<br />lected and available, _
<br />NOW THEREFORE, be,it ordained by „the Counoil of the Village of North`Olmsted
<br />State of Ohio, two- thirds of the members elected thereto being present an
<br />concurring:
<br />Section 1. That for the purpose of raising money in anticipation of the
<br />levy and oollection of Special Assessment for the improving of Lucille
<br />,
<br />Drive from Webster Avenue to Grace Road
<br />in the Village of North Olmsted by grading, draining and slagging same
<br />-bonds of said Village shall be issued
<br />in the amount of Two Thousand Seven Hundred FiftyNine and 671100 Dollars
<br />1.
<br />"t ($2,759.67) - of which ° Two Thousand.Seven.Hundred
<br />{ Ten and noAOO Dollar8"($2710.00
<br />is the estimated cost of said improvement according.to,report of Engineer and
<br />Forty.-Nine and'67 /100 Dollars ($49.67)
<br />is the interest for dVW7^Vt thereon.'
<br />four months
<br />Section 2. Said bonds shall be-designated as the "Lucille Drive
<br />Slagging Improvement Bonds” `{ ; shall be of the denomina-
<br />tion of $ 500,00 each except the first bond which shall be $ 759067
<br />shall be dated April 1, 19 29'shall•draw. interest at the''rate of 5-1/2
<br />per centum per annum payable semi - annually on the first days of April and
<br />,r 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 />- 1
<br />1
<br />
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