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1. October'l, 1930. .,.$759.67
<br />2' October 1,_1931. .,. 500.00
<br />3. October 1, 1932. .,. 500.00
<br />4. October 1 1933. ... 500,00
<br />59 October,l,.1934 .,.:. 500000
<br />which maturities are hereby determined to be in substantially, equal annual
<br />installments.
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<br />Section 3. Said bonds to be prepared by the Village Solicitor, signed
<br />by the Mayor.and Village Clerk, sealed with the Village Seal,• shall express
<br />upon their face the purpose for which they are issued and the.fact that
<br />they are issued pursuant to law and this,ordi.nanoe; shall be payable, both
<br />principal and interest, at the office of,,the
<br />a
<br />, and shall bear such consecutive num-
<br />bers as said committee or the proper officers of th® Village may determine.
<br />Said bonds shall be first offered at par and aborued interests to the
<br />Trustees of the Sinking Fund of the Village in their ,official capacity, and
<br />if said trustees refuse to take any or all of said bonds, then said bonds
<br />not so taken shall be advertised for public sale and sold in the manner
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<br />provided by law under the.direction`of the Finanee.Committee and the Clerk,
<br />Is
<br />but not for less than-their pare value and accrued interest; the bond sale
<br />Ss
<br />advertisement shall state that any one desiring to do so, may present a,
<br />It
<br />bid or bids for such bonds based upon their .bearing a different rate of
<br />interest than hereinbefore fixed, provided, however, that where a fractional
<br />interest rate is bid, such fraction shall be one- quarter of one per cent,
<br />('
<br />or multiples thereof. `
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<br />Section 4. That upon sale of said bonds said one year's interest, any
<br />premiums and the accrued interest realized therefrom, shall.be paid to the
<br />Sinking `Fund Trustees. The par.value realized from the sale of said bonds,
<br />shall be placed in the Village Treasury., to the credit of the
<br />"Lucille Drive Slagging Improvement Fund" and shall be dis-
<br />r
<br />arse from d on proper vouchers, in payment of notes issued .pur-
<br />A&PUN110
<br />suant to . 246 pa ssed 11 A2, iii st 2, 1927 in anticipation of
<br />the issuance of the bonds herein referred, to the proceeds of the sale of
<br />which notes was appropriated and actually used for payment of the expense
<br />of the improvement aforesaid, for which purpose paid money to be realized
<br />from the sale of bonds,issued pursuant to this ordinance is hereby appro-
<br />priated.
<br />Section 5. in the event any of the owners of any of said property so
<br />especially assessed shall pay their total assessments in cash within thirty
<br />(30) days of the date of the final passage of the ordinance levying such
<br />special assessments, the aggregate amount of bonds to be issued shall be
<br />reduced by deducting the amount so paid in`oash from,the; total amount of the
<br />bonds to be issued, and the bonds herein provided for first maturing shall
<br />be correspondingly reduced by the omission of so many thereof as shall'
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<br />equal the amount of assessment so paid, or by changing the denomination of
<br />one of said bonds, or both, as the case may be, and the amount to be credit -
<br />ed to the foregoing fund from the sale of said bonds shall be likewise re-
<br />duced by the amount of the assessment so paid in cash for such improvements.
<br />Section 6. That all installments of said assessment and' all portions
<br />thereof, together with interest thereon, shall be applied to the payment of
<br />said bonds and interest as the same shall become due and to no other pur-
<br />pose whatsoever.,
<br />Section 7. That the faith, revenue and credit of the Village of North Olm ted
<br />are hereby pledged for the prompt payment of both principal and interest
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<br />- of the bonds hereinbefore described in accordance with the laws and con-
<br />stitution of the State of Ohio.
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