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C of a�,���"��.��>7 <br />.-7O r <br />p <br />��a,a'lari.J,r�'"JI 1a <br />' '•61� t f ;V,I t i <br />a Ordinance No. 31G <br />� tUy� iiY3 �,�D'UilCll 0! 6...1�.� �'�1La�,t'.ill O1'1:itCldilCc', -i'10. 11,E L�.�J',di _. <br />Mr. Biddulph <br />t� i t?z tiw 'Vzl 0f ;0i"11 <br />An Ordinance <br />To issue bonds,in anticipation of the collection of the Special Assessment <br />for the improvement of Su„unnerland Avenue frog Claque ,toed to th3 Es.sterly <br />limits of the Village, by ,rad1nr,, draining .arid sla-ring i;nr,a.. <br />WHEREAS, the Council of the Village of 11orth Olmsted �" Ohio, , has here - <br />tofore by resolution duly, adopted on the 5 day of April 1927 , <br />declared the necessity to improve Su- iniarland Avanue from Claque Foad to <br />tho easterly 11 -nits of U-1e Vil- in the Village of North Olrrsted . by <br />;radir. ,' 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 />WHEREAS, the notes, issued in anticipation of the issuance of the bonds <br />hereinafter referred to, are about to fall due,'and, <br />WBEREAS,' this Council has requested the Village Clerk to issue his cer- <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 />'So Village,Clerk has certified to this Council such estimated life as eie;ht <br />years and has further certified the maximum maturity of such bonds as <br />eight years, and, <br />WHEREASI this Council estimates `that. a -tax for said bonds will first <br />appear upon the duplicate for the .tax year .- 1930 and the final tax <br />settlement with the County`Treasurer next Tollowing the inclusion of a tax <br />for this issue in the annual'budget of the County Auditory as provided by <br />law will be obtained not earlier; than,the.'first days of Septe ber 19 31 <br />and will require $ 303.61 for interest until such taxes.:are col- <br />lected and available, <br />NOW THEREFORE, be it ordained: by the Council of the Village of ldorth Olmsted` <br />State of Ohio, two- thirds of the members elected thereto being present and <br />concurring;- <br />Section 1. That for the purpose of raising money in anticipation of the <br />levy and.collection of Special Assessment for the improving of Summerlawi <br />Avenue from Claguo Road to tYus; easterly limits °of t }� Village <br />in the Village of Tyorth Olmsted by grading, draining and slagging saw <br />bonds of said Village shall be issued <br />in t e amount Of Five Thousand E ig r • _�undred Ttircnty_Threo grad $0 l0O Dollars <br />of which Five Thousand Filia I1u <br />Ti7enty. and 191100 Dollars ($5,520.19) <br />is the estimated cost of said improvement according'to report of Engineer and <br />Three hundred Three and 61/100 Dollars (303.61)- <br />is the interest for one year thereon, <br />Section 2. Said, bonds shall be designated as the "Suu� rlard Av nuo <br />S1e.;uing Improvement Bonds" <br />shall .be of the denomina- <br />tion of $ 500.00 each except the first bond which shall be $ 32300 <br />shall be dated October 1, 1929 ; shall draw-interest at the rate of 5.�1 <br />per centum` per annum payable semi - annually on the first days of' April ' and 7. <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 />