01-05-1943 to 02-06-1951 Ordinance 620 to 869

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Section 4. The Clerk is hereby authorized and directed to certify a copy of this ordinance to the Auditor of Cuyahoga County, Ohio, according to law. i1 Section 5. That all installments of said assessments and ' all portions thereof, together, with. interest thereon, shall be applied to the payment of said bonds and interest as thesame shall become due and to no other purpose whatsoever. In the event that the amount of bonds required to be issued for said improvement shall be reduced by the cash payment by the property owners in accordance with the option included in the assessing ordinance, such reduction shall be accomplished -by reducing all of the serial bonds herein- above provided for so as to retain substantially equal annual E maturities. Section 6. The Clerk is hereby directed to have said bonds and coupons properly prepared and executed, to sell the same and to :deposit the proceeds in the Village treasury to the credit of the Lucydale kvenue Improvement Fund for the purpose of paying the cost of said improvement not heretofore provided to be paid by said Village and for which purpose said money is hereby appropriated. Section 7. That said Bonds.shall be first offered at par and accrued interest to the Treasurer and Officer in charge of the Sinking Fund and if said Treasurer or Officer refuses to take any or all of'saidfbnds then said Bonds not so taken shall be advertised for public sale and sold in the manner provided by law but for not less than the par value and accrued interest.' Section 8. That this ordinance is hereby,declared to be an emergency measure, the emergency being that it is necessary for the immediate preservation of _public health, peace, safety passed at once and shall take and welfare that this ordinance be p , i effect and be in force from and after its passage. Passed: February 61 1951. Attest: MYOR MYOR {