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ORDINANCE NO. G~ ~ ~ BY: ~~/'~f~~=~~ ~-1~ QE~DI~TANCE TO PROVIDE FQR THE ISSUING OF NC~fES IN ANTICIPATION OF THE LEVY OF SPECIAL ASSBSSA~ENTS AND IN ANTICIPATION OF THE I~S-,TING OF BO~tDS IN ANTICIPATION OF THE Ct7LLECTIO~T OF SPECIAL ASSESS[NTS FOR THE IAAPROVEMENT OF MAPLE RIDGE Bt~AA FBt CLAQUE ROAD TO WALTER. ROAD BY COAL- STRtJCTI4N OF A CONCRETE WALK ON THE NORTILY SIDE OF MAPLE RIDGE ROAD WHEREAS, the Council of the City of Atorth Olmsted has hereto- fore, by .proper legislation., declared the necessity of improving Maple Ridge Road fry Claque Road to Walter Road by construction of a con- crete walk on the northerly side of Maple Ridge Road. WHEREAS, this Council contemplates the use of 10200.00 for the purpose of paying the portion of said improvement, wh~.ch is to be paid by assessments; now, thereft~re, BE IT ORDAINE~3 BY THE COUNCIL OF THE CITY OF NORTH OLMSTED, STATE OF OHIO: S~c,~ti ~-a 11 That it is hereby declared necessary to issue bonds of the City o~~ ~c~rth Olmsted in the principal sum of 1t~,~O.OO for the purpose of raising money in anticipation of the collection of special assessments for the improvement of Maple Ridge Road frnm Claque Read to Walter Road by construction of a concrete walk on the Northerly side of Maple Ridge road. section 2. That said bonds shall be of the denomination 0f ~-1,000.0 each, except B®nd N©. 1 which shall be 1,200.x, shall be dated September 1, 1953, and shall bear interest at the rate of not to exceed four (~.} per cent per annum, payable semi-annually oa the isrsaid ys dfsAaril and October of each year until the principal sum p , an h ll ffiature inf'iare annual installments after their is seance. Sect~LAn 3. That for the. purpose of raising money in anticipa- tion of the levy of special assessments and in anticipation of the is- suance of bonds in anticipation of the collection of special assess- ments for the improvement of the above nansed street by constructing them a concrete walk in accordance with the legislation heretofore passed by the City Caumcil with respect thereto to pay the property owAerst share of the cost and expense of said respective improvement, it is hereby declared necessary to issue anrd there shall be issued Hots or Hates of the City of N©rth Olmsted is the sum of lO 2OO.Ot~ , which shall be placed to the credit of the A~aple Ridge Road .dewalk Improvement Fund in the amount of X10,200.00. Section la.. That such anticipatory note or sofas in the amount aforesaid shall be issued bearia interest at a rate not exceeding three and one-half per cent (3-l~z~} per annum, payable at the maturity of said n®te or notes; said note or notes shall be dated the same date that said note or notes shall be sold and shall mature one gear from said date; such note or notes shall be executed and deliver®d in~such manner and such denominations as may be requested by the purchaser of said note or notes, Section ~, Said note or notes shall be executed by the Mayor and the it~uditor; shall bear the seal of the corporation• they shall be payable at the office of the National ,City Bank of ~leveland, North Olmsted office, in the City of North Olmsted, Ohio; they shall ,,.,r.... _ ,.._~ .. ._, _....-~,..~..... . ,.._ .,,... _...,_ .. ...