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

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thereof. The funds derived from said tax levies hereby required, shall be placed in a separate and distinct fund, which, together Frith the interest collected on the same shall be irrevocably pledged for the payment of principal and interest of said bonds when and as the same fall due. 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. Section 5. That all installments of said assessments and C portions thereof, together with interest thereono shall be applied to the payment of said bonds and interest as the same 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 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 Silverdale Road Vyater Improvement Fund No. 1'.for the purpose id improvement not heretofore provided to of paying the cost of sa be paid by said Village and for which-purpose said money isYbreby appropriated. Sect ion 7. That said Bonds shall be first offered at Treasurer and Officer in charge of par and accrued interest to the 4 the Sinking Fund and if said Treasurer or Officer refuses to take f any or all of said Bonds then said`Bonds not so taken shall be advertised for public sale and sold in the manner provided by lave but for not less than the p ar value and accrued interest. Section 8. That this ordinance ishereby, declared to