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<br />Sect ion 5.° Such notes shall be executed by the Tfiayor and Village Clerk and
<br />bear the seal of the corporation. (Shall have coupons bearing the facsimile
<br />si&na.turo of the Village Clerk.) Shall be designated "Public fiuildin" and ;
<br />ahall be payable, at the office of the 1�lor ±h Olmsted Baal: in the Village of
<br />North Olmsted, Ohio; they shall•express upon.their,face the- nurnose for which
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<br />they are issued and that the%r are issued purusant to this ordinance.
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<br />Section 6. Said ;notes shall. be first offered to the Sinning Fund 1'ruste -s
<br />{ of the Village and so many of the `same as shall' not be taken `b,y said trustees
<br />shall be sold at private sale b the Village Clerk, but for not less than par
<br />and. accrued interest,,�and. the proceeds "from such sale, except any premitun and 1
<br />accrued 'interest .thereon (a.nd the amount thereof necessary for the payment of
<br />interest prior to the maturity of said notes), shall be raid into the proper 1
<br />fund and used for the,purpose: aforesaid and for no other'purpose. Any premit , a
<br />and accrued interest -(and-the amount ,necessriry for the pavrnent of interest
<br />prior to their maturity)shall be` transferred to the trUstees'of the Sinking
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<br />Fund to.be_.applied.b1r them ln'the payment of principal and interest, of said
<br />notes .in .the manner' provided by lair.
<br />Section?. Said notes shall be the'full general obligations of the Vil.l cre j
<br />and the full . faith, credit, and revenue of said Village are hereby pledged
<br />for the prompt payment_ -of the same.. the par value.to be received fron the salA
<br />of t;he ;bonds, •anticipated by said notes and any excess fund resulting from the
<br />issuance .. of said ,notes shall be the extent necessar -ir to be used only for the
<br />retirement of said notes`., at maturity, together with interest thereon, and is
<br />hereby...pledged for such purpose.
<br />Section 8. : Durincr the year., or. yeArs while such notes ran there sh�i11 .l+ .
<br />levied on -all the taxable property .in-the Village of North 'Olmsted, in `addition
<br />to all. other taxes a direct tax annually not less than that which would have
<br />been levied if bonds ha.d been issued without the prior issue of such bonds.
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<br />Said tax shall be and is hereby ordered computed, certified, levied and ex-
<br />tended upon the tax duplicate and collected bl ►,the same officers, in the sari i
<br />manner and at the same time that tax(-s for general purposes for each of said
<br />nears. are certified, extended and collected.' Said tax shall-be nlaced befor 3
<br />and , a n p reference to a l-I other items4 and for th.e full amount thereof. Vin f, r-ds
<br />derived from said tax 16vies hereby required shall be nla.cPd in a separate aid 3
<br />distinct fund, W 0.011, tooet-,hei -vAth the . in +erect collected on the same, shat. i
<br />be irrevocably nledmed .for .the payment of the principal and interest of said
<br />notes of the bonds in 'anticination of which they Are issued `when and as the
<br />same fall due.
<br />Section 9. The Village* Clerk is hereby directed to'forwa.rd a certified
<br />cony of this ordinance to the County Auditor.
<br />Section IN That this ordinance shall take effect and be in force from
<br />and after the earliest, period' allowed. by 1piv.
<br />Section 11. That, Ordinanee.No. °261 passed October 2, 1028, be and the t
<br />san(3 ' is hereby • renealk
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<br />Read the 'first time February 4, 1929:
<br />IvTOVed by Tvir. seconded by TJ "r, that the
<br />statutory rule e suspen e, and that Ordinance No, Ceti a second An �
<br />third -times iru,:ediately And put upon its passar;e.. �affirmstive vote on 3
<br />said motion was as folloir s; Biddulph, Bidwell,- Christman, Seltzer, Ste +'
<br />Stine s
<br />Thereupon the Ordinance wA.s rea.d.the second and third. times and put anon ifs
<br />passage and the, ,,affirmative vote therein eras as fol tz�l sr _Bidd"lph, Bidwell,
<br />Chr,c} man= 5«�1tzPr,� Stine. ,.
<br />Oi'x1 Dance �x,assed' �`ebrutary 4, 19290,
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<br />Arproveci ».nd si�neil b•r the Mayor, Febr,)ary 4, 192,
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