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<br />[i G)iine„l Ul s V l.iaggo ill Grdhiui cu No. 1 pl< ozi_i1 i s Ordinance No*
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<br />lie._- - -_ -- - -- -- An 1� ncella ;e G ss JtLil ()Ia215iC �a (i111Q
<br />Providinw for the issuance of notes by 'the Village of North Olmsted .;in antiri.:
<br />pation' of � the issu >tnce, of bonds for the'purpose of construction of ;a :Steel +far ,
<br />i ouse in the Park, and dea lair in the necessity of the issuance of bonds for
<br />such purpoases. ;
<br />3t BREASS, this council has requested the_ 'Vills0*e :Clerk to. isstl,- his certi ' -»
<br />cats as to the estima.ted'life' of thg'improvNment to bf3 constructed..from the,'nro..
<br />ceeds'of_, the bonds hereinafi-,pr referred to and of 'thp notes .to'be issued . in. an
<br />�i ti.cipation of said bonds and the'' Vi11aFe C,I6rk has' 'certified to this Council
<br />such estimated life as exceedin;;' five' years and has further, eertif ied ' the maxi
<br />mum maturity` of such bonds-as fifteen years and such notes as twIo ire Rrs, ands
<br />a
<br />l*�fi~ I AS this council contempla� es the Ilse of j o` O --�
<br />for:_ the purpose .of contructing anon -fir. epro' build in; for a Shelter "House in
<br />the Park.-and will require three hundred and r..ine'ty dollars ($39�.00)'to'c'
<br />for interest maturing; previous to" the receipt, of the taxes from which such in
<br />ter is to be ixltimately Paid ,`either upon such bonds, or the notes to be
<br />issued in anticination thereof, makina'a total aWVre�t3te'amount'of sixty eight'
<br />hundred,_ ninety dollars (,p6890.00). ;
<br />NOIJ TTIOMFO.R -R, be it ordained; by the Council'of, t�hn" :Village of;_North Olmst ed,
<br />County of Cu -raho . a and State of Ohio:
<br />Section 1. That,it is deemed necessary to issue the bonds of the Vil.lsae f
<br />North Olmsted in the principal sum of sixty five hundred dollars 06500.00) in
<br />order to provide a -fund for the purpose of constructinv ;a Shelter House in the
<br />Park for the safety. and ,protection of the inhabitants
<br />thereof',
<br />Section 2. That said bonds.of the Vi1lao-e1of North Olmsted shall`be issue
<br />in said principal sum of $6500.00 for the Purpose aforesaid. Said bonds shall`
<br />be of the denomination of ; x675.00 and shall ,b� dated April. 1, 1929; shall bear
<br />interest at the rate of 5 -112;/ per annum, payable annually on .the first day of
<br />October of each year until the ,principa.l sum is paid and shall-.mature in their`
<br />consecutive serial order as r follows':
<br />1. Oct. 1, 1930 815. G0
<br />20 Oct. 1, 1931._. 0.00
<br />a,
<br />3. `Oct: 1, 1932 ". ,, 675.00
<br />49 ``, Oct. 1; 19:13 ..: 675.00 .
<br />50 Oct.., 1, 1934 s :. 675.00
<br />6. Oct: -1 1935 675.00
<br />79 Oct. 1, 1936 675.00
<br />8. Oct. 1, 1937'. e 675.00
<br />9.' Oct-'I 1938 .`` . . `675.00
<br />106 Oct. 1= 1939. 675.00
<br />which maturites are hereby` determined to bo in substan- iUally equal annual in-
<br />sta.11ements. _ .
<br />Section`3.' That it is neeessary`and'this Co»ncil hereby determines that
<br />notes shall be issued in. anticipation of the :issue of said bonds.
<br />Section 4. That such anticipatory notes in the amount of �G500000 which
<br />sum doer not exoeod -rhe amount of the bond issue, sha11 be. issued bearing interE st
<br />at the rate of six (6)'per.centum` per annum, payablF` semi- annually., Such,,notes
<br />shall be dated the 1st ' day- of Octobers 19284 and shall' i.mturR� on -the 1st da,t of
<br />October 19302 (provided however, _that such notes 'Sk%all be �redeeriabl e at any,,. :.
<br />intern st: ° period) . ` Such` notes sh�]all,be' executod - and deIlivered in such; number any
<br />such. denominations as ray be requested by tkar, purchaser of such bonds,
<br />
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