04-04-1922 to 12-31-1929 Ordinance 074 to 319

Home Browse Search

Section 8. That for the purpose of providing the necessary funds to pay the interest on the foregoing issue of bonds promptly when and as the same falls due, and: also to create and- maintain a sinking fund sufficient to discharge the said bonds at maturity,-there shall be j and is hereby levied on all the taxable property of the Village: of North Olmsted in . addition to all 'other taxes, a direct tax annually during the period or which said bonds are to run in an amount sufficient-to provide for any deficiency in the levy, payment or collection of said assessments as the `fall x same due. • - tk That said tax stall be and is hereby.ordered ,computed, certified, levied and extended upon the tax duplicate and collected by the same of-...,. ` ficers,\ in the same manner and at the same time that the taxes for general Purposes for each of said years are certified, ,extended and collected. -.. That all funds derived from said tax levies .hereby required, shall be placed in a separate and distinct fund, which, together with all interest. collected on the same.srje.11 be irrevocably pledged for the payment of the f interest and principal of said bonds when and as the same fall due.` Section S. This Ordinance, shall take effect and be in force froiu and after the earliest period allowed by law. Read the first time May 21, 19290' . Moved 'by Mr• .. seconded by Mr. that the statutory rule be suspended and that Ordinance No fV' ►° be read imme- diately the second and third times and put upon its passage. The affirma- tive vote on said motion was as follows : - Biddulph, Bidwell, Christman,' Seltzer, Paean, `Stine, Thereupon the Ordinance was read the second and third times and put upon its passage and the, affirmative vote thereon was as follows : - Biddulp#, Bidwell, Christman, - Seltzer, Sep "fir, Stine.. •. - �. Ordinance passed Ma • 21 _.1929. rh Approved, and ;signed by the Mayor, May 21, 1929. L. M. Coe a {� rt Mayor. v' ` Jerk.