Perrysburg journal. (Perrysburg, Wood Co., O. [Ohio]) 186?-1965, 1889-02-15
Another Special Law for Wood County.

The following is the full text Of another
special law introduced by Representative
Spencer year ago and passed the House,
but did not get through the Senate until
last week and il is reported on a "hard
fight" 1t ia now law:
SECTION BE II enacted by the Cen
erNl Assembly Of the State of Ohio, That
the council of any Incorporated village in
Wood county, Ohio, be aud Ia hereby an-
thorized to issue bonds for the purrore Of
sinking wells for natural gas, purchasing
and laying pipes aud con,tructing the
necessary buildings, fixtures aud machine
ry 10 supply such village and the citizens
thereof with natural gus for public and
private consumption.
SECTION 2.-No village, shall at any
time. under the various provisions ot this
act, is'ne bonds increasing the municipal
Indebtedness Of said villsge above ten per
cent of the actual valuation OF the person.
al and real estate Of said village, rs shown
by the tax duplicate Of the year frat pre-
ceeding the Issue Of bonds as provided for
in this act.
SECTION 3.-Before such bonds or any
OF them shall be issued, the question OF
issuing the same shall be submit to the
qualified voters OF such village at gener-
al election or at special election to be
held at such times M the council of said
village shall appoint. The tickets voted
shall have written or printed thereon the
words: Authority TO issue bonds-Yes =
or Authority to issue bonds-No.' II
the proposition 10 issue bonis be approved
by Z majority of those voting upon the
roposition, the village shall have author
fly to issue bonds for the purpose named,
as provided in this act.
SECTION 4.-The council Of such village
shall publish notice OF the submission Of
such question in some newspaper publish
ed in such village. for at least ten days
prior TO such election, and in case no
paper IS published in such village, the
council shall cause TO be posted In at least
three public places in said village. written
or printed notices Of the submission oil
such question, for at least ten days prior
to such election; and snch election shall
be held in all respects, not otherwise here
in provided, as municipal elections are
now required by law TO be held in such
village.
SECTION 5.-Such bonds, when so an-
thOrized, shall be issued by the council of
4
than one hundred or more than five hun
dred dollars. payable in such times, not
exceeding twenty years, ns the council
shall provide, with interest not exceeding
ten per cent per annum, payable semi an
nuallv; principal and interest payable at
such place as the council may determine
they shall express upon their face the
purpose for which, and the act under
winch issued, and shall be signed by the
mayor and countersigned and registered
BY the clerk Of the village, and shall not
be sold for less than their face value.
SECTION No moie bonds shall be
issued and sold than is necessary for and
rnqvired by the actual and necessary
coat and expenses of sinking wells, in
such numbers AZ may he required Tor the
purposes named in section l of this act,
and laying Of pipes and other necessary
expenses; they shall be sold from time Ia
time M the work progresses, and IN such
amounts as shall bs required and made
necessary by the progress, and for the
proper completion of the works; and all
proceeds and moneys arising from SAID
bonds shall be used exclusively for aud
applied 10 the payment Of work, labor,
material, ard other expenses necessary for
the supply of gas for the purpose Sfore-
said.
SECTION AN moneys collected or
received by said village from the citizens
thereof for gas furnished and consumed
for public or private use. and all net in
comes, revenues and profits arising there
from, shall be pledged and applied to tie
payment Of said bonds and interest
and the council of sai i'll village Ia
hereby authorized to levy tax annuaIlv,
not exceeding ten mills on the taxable
properly within said village in addition 10
the tax now nv law authorized to he lev
ied, which shall be uHed as sinking fund
for the gradual extinguishment Of said
bonds.
SECTION S.-All moneys 30 applicable
10 the payment of said bonds, which shall
come into the hands OF said village befor,
said bonds are due, or any OF them, shal
I've uaed 10 purchase such bonds, or in
vested under the order of the council as
sinking fund, 10 be applied to the pay
neut of such bonds as they become due,
SECTION 9.-This act to take effect OF
its passage.