Democratic Northwest. [volume] (Napoleon, Ohio) 1869-1894, 1893-05-04
AN ORDINANCE.

An ordinance to proride for borroaoiYg mon
en- and issuing bonds for the erection of
Wdtervorks and Electric Light Plant for
and in the VilLdge Of Napoleon, In Henry
County, Ohio.
CECTION l. Be ii ordained by the council of the
y incorporated village OF Napoleon, Henry county,
Ohio that by virtue OF an Act OF the General As
seinhly of the State Of Ohio, passed March S)th,
A. D., 1892, and an Amendment of Section one
thereof, passed April 18th, A. D., 1872, and vote
Of the electors OF the said village of Napoeon Ohio.
held on the Bird day of May, A. D., 1892, direct
ed and authorized by said Act of the General
Assembly and its Amendment as aforesaid, and
also by virtue of Ordinance passed by the coun-
Gil OF said village on the 9th day Of March, 1888,
entitled IAN Ordinance to provide complete
system of Wsterworks for the village of Napoleon,
aAn Ordinances TO provide Electric Lights for the
village of NapoleoR, In Henry county, Ohio"
passed by the council OF said village on the 9Th
day Of March, 1898: Tue Mayor and CLERK OF said
village Of Napoleon. Henry county, Ohio, be aud
they are hereby authorized and directed to issue
the bonds of said village in sum not exceeding
sixty thousand dollars ,000l for the purposes
of erecting Waterworks and Electric Light Plant
for the supplying of water and light for said vii
lage and It's Inhabitants as set forth in said Act OF
the General Assembly and the Amendment thereto
and said ordinances.
one thousand dollars S1 O00 each, bearing rate of
interest not exceeding five per cent. per annum,
payable semi iannual1y, and be payable In twenty
years, but redeemable In fifteen years after tho
date Of the issuing Of the same; and the principal
and interest," si,sreuf shall be payable at the county
Treasurers i &c in said village OF Napoleon, o.
Said bonds shat, be dated June 1st, 1888, and in
terest payable June and December LIST of each year.
SECS. Said bonds shall be signed by the Mayor,
of said village and c0untersigned by the Clerk of
said village and sealed with the corporate seal of
said village and that the coupons attached to said
bonds, for the interest to become due thereon shall
also be so signed by the Mayor and countersigned
by the Clerk Of said Village, and said bonds shall
not be sold for less than their par value after legal
publication of such bond sale.
SEC. d. That said bonds shall be numbered from
one to sixty inclusive, and the person or persons
purchasing said bonds thall furnish the blank
forms OF such bonds with coupons thereto attached
subject to the approval of the council without any
charge to said village.
SEC 5. That under and by virtue of the provis-
ions Of said act Of the General Assembly, levy of
five mills on each dollar valuation of real and per-
sonal property within the corporate limits sf said
village be made for the present year and that such
leyyshal be made each year thereafter under said
law, as in the opinion Of the council will be neces-
sary to pay the interest cupons they become due
and to provide sinking fund for the payment OF
the principal of said bonds.
And for the faithful and prompt payments of the
principal and interest Of said bonds the property,
faith and credit OF said Village is hereby pledged
SEC. 6.---This ordinance shall take effect and be
in force from and afterits passage and legal pub
hcation.
Passed May 1st. 1898.
Attast.