Democratic Northwest and Henry County news. [volume] (Napoleon, O. [Ohio]) 1894-1905, 1896-06-04
AN ORDINANCE

To proride bOrrDCiag N0Rcy and Is
suing Bands fOr the pUrDSse Of elr-
lending and cRkargiHg the Water
Works and Electric Tight Works
otgned by the Village II Napoleon.
Ohio. tn supply The said VILLAGE
amt tie Inhabitants thereof riH a
more efficient supply of Water and
Light
SECTlON l. BE IT ORDAINED BY THE
- council ot the Incorporated Village II
Napnl.et,n Henry County, Ohio. that by yir-
said village by sections Twenty-eigbt Humid
red and Ihirty-iive Twenty-eight Hundred
anu lhlcty-SlN ana Twenty-pighr Hundred
am lhirty-seven Of the Revised Statutes of
ONO, ana the amendments thereof and also
10y virtue Of vote Of the electors If said
village. had on the 23rd day of May. A. d.,
1871 as authorized by the above named Sec
IONS OF thc Revised Statutes Of Ohio, and
tne amendments thereof and for the purpose
ol borrowing money with which 10 extend
ana enlarge the Water Works and Electric
llEht Works in said village. the said village
lTsGH T,,.t aTI Il sell lis Bonds in the sum of
iiWelle Thousand lSl2OOOl Dollars: that the
Mayor ana Clerk of said village he and they
are hereby authorized and directed 10 iseue
asT sel thg bonds Of said village in the sum
ol IWeNe Thousand iSl2OO0l Dollars for the
purpose or extending and charging the
water Works and Electric Light Works
owned by said village Of \apOlTon Obio Ia
Supply, the said village and inhabitants
water and light
SECTION ,, said Bonds shall he in denomi-
nations OF Five Hundred tS50Ol Dollars each
bearing rate Of interest not eXceedinp Ave
per ce4tum per annum, payable semi-annu-
ally, which said bonds shall be made due and
payable in ten years from the date thereof
ana the, principal and interest thereof shall
be payable at the office OF the Treasurer Of
said village of Napoleon. Ohio. said Bonds
shai! be dated July lst 1896. and the interest
shall be paid January lst and July LIST of each
and every year thereafter.
SECTION B. Said Bonds shall be signed by
the Mayor Of said village and countersigned
ny the Clerk Of said village and sealed with
the Corporate Seal thereof and the coupons
attached to, said Bonds for the interest to be-
come que thereon, shall also be SO signed by
the Mayor and cOuntcrsigned by the Clerk
OF said village. and said bonds shall not be
sold for less than their par value and ac-
Grued interest after legal publication Of such
SECTION 4. That said Bonds shall be num-
hered from One to Twenty-four inclusive.
anu the person or persons purchasing said
bonds shall furnish the blank forms Of such
Bonds with interest coupons thereto attach
cd subject, however, TO the approval of the
Council without any charge To said village,
HEGTIoN ;. That under and by virtue Of
Hundred and Thirty-siN OF the Revised
Statutes Of Ohio, and Of the other provisions
OF the general laws of Ohio. the Council of
Sai4 village levy tax Of five mills on each
dollar valuation of the real and personal
property within the corporate limits Of said
village, which tex 50 to be levied shall be
levied in addition to the amount otherwise
autnoflZeq py law, every year during the
period said Bonds have to run, sufficient in
amount each year to pay the interest cou-
pons as they shall become due and to nro-
vtGea sinking fund for the payment Of the
principal Of said Bonds when they fall due,
and for the faithful and prompt payment Of
the PRINCIPAL and interest of said bonds, the
property, faith and credit Of said village is
hereby pledged
SECTION 6. This Ordinance shall take ef-
fectand be in force from and afterits passage
and legal publication
Passed June 1st, 1896.
JAMES P. Mason. Mayor Of sai1 Villace.
Clerk Of said Village.