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shall be placed in a separate and distinct fund, whi ch., together <br />with the interest collected on the 'same, shall be irrevocably pledged <br />for the payment of principal and interest of said bonds when and <br />as the same f all due. <br />Section 4. The Clerk is hereby authorized and directed <br />to certify -a copy of this ordinance to the Auditor of Cuyahoga <br />County, Ohio, according. to law. <br />Secticn.5. That all Instal lments of said assessments and <br />all portions thereof, together with interest thereon, `shall be <br />applied to the payment of said bonds and Interest as the same shall <br />become due and to no other purpose whatsoever. In the event that <br />the amount of bonds ,require'd to be issued for said improvement shall <br />be reduced by the cash payment by the property owners in accordance <br />with the option Included+ in the assessing" ordinance, such reduction <br />shall be accomplished by reducing all of the serial bonds herein- <br />above provided for so as to. retain substantially equal annual <br />maturities. <br />Section 6. The Clerk is hereby directed to have said <br />bonds and coupons properly prepared and executed, to sell the same <br />and to deposit the proceeds 3n the Village treasury to the credit <br />of the following funds in the amounts therein stated: <br />Frank Avenue, its entire length,Surfacing Fund 4,38.00 <br />Marion Road, from Clague Road' to We 230th St., <br />and West 230th Street, f rom the <br />north Village line to Clifford I q w-,. `► o <br />Drive, Surfacing Fund 9,466.00 <br />for the purpose of paying the portion of the cost of said improve- <br />ments not heretofore provided to be paid by said Village and for <br />which purpose said money is hereby appropriated. <br />Section 7. That this ordinance is hereby declared to <br />be an emergency measure, the emergency being that it is necessary <br />for the immediate preservation of public health, peace, safety <br />and welfare that this ordinance be passed at once, and shall take <br />effect and be in force from and after its passage. <br />Passed July 18, 19500 <br />E. M. Chris, -�` - er arence J Oviatt, Mayor <br />ov <br />,, <br />