Marietta daily leader. (Marietta, Ohio) 1895-1906, 1897-07-16
An Ordinance

PROVIDING FOR THE ISSUE AND SALE
OF NEGOTIABLE COUPON BONDS OF
THE CITY or MARIETTA, OEI1, TO THE
AGGREGATE AMOUNT OF FIFTEEN
THOUSAND DOLLARS. FOR STREET
PAVING AND SEWER PURPOSES IN
TIE STREETS AND ALLEYS OF SAID
CITY.
whereas The voters Of the City Of Marietta.
In pursudu"e Of a notice duly given aud pub
jished oy ue ity Council Of The City Of Ma
rietta: ohio did on the tn day OF June, y.
d l'97. vOl- to iSsus Fifteen Tnousani Dol
lars, : 800 no. in bonds Tor street Paving and
Sewer Purposes, ana
Whereas rwo-thirds OF all the votes cast az
said election We're in favor OF issuing SAID
bonds Is requil ed by law, therefore,
ke IL oruaiued uy toe city Council OF the
CT of Marietta, OnIO, as TO. .Uws:
section /. That there be issued the nego.
tiaOie coupon bonds OF said CITY beaIiuE date
August }, l>a', for the aggregate sum OF Fiji
teen Thousand Dollars, tTlr ,UNU )
section =. That sa Il bonds shall be known
and designated n Paving aLd Sewerage
Bonds, second Issue and shall be issued in de-
nominations OF sluu cnGh. ana shall bear inter
est NJ the rate Of five PER centum per aunuu,
from their date, payable selIl annually; that
the principal and interest Of said bonds shall
he payable in good ana lawful money OF the
United states, AT the agency OF SAID City in
the MY vi New York: that said bonds shan
be numbered consecntiyely from NO up to
and inCluiing No. 30 ana shall be redeemaole
at the pleasure of the City Council of said City
at any time after ten Years from the date Of
! issue OF the same, and shall be payable at "a
| period not exceeding thltly years rom their
Section B. said bonds shal. be signed l.y
| the Mayor and Clerk of said City and shall be
| sealed with the coporate seal OF said ity
| they shall have interest coupons attached
| thereto. upon which shall be engraved or lith-
ographed the fac simile signature OF the Clerk
| OF the ity. said bonds may be sold and dis
| posed of by the Council OF the City from time
TO time as said Council shall by resolution de-
termine; said bonds shall not be sold for less
| than their par value with accrued interest.
| section 1. When said bonds or any of them
are sold the proceeds arising from the sale or
sales of said bonds shall be placed in the
| Treasury of said Lity 10 the credit Of what
shall be known as the Paving and Sewerage
| Fund
section 8. That the proceeds arising from
the sale or sales of said bonds shall be used in
paying the cost and expense OF constructing
| street Pavements and sewers or either OF them
in and along the Streets Of said City or portions
thereof, includ ng any and all incidental ex-
penses tha cost and expense which just before
| provided may be paid from the proceeds aris'
| ing from the sale on sales OF said bonds, may
be either such cost and expense as Is by law
| chargeahle upon said City, or such proportion
! ot total cost and expense a. the IT. Council
| OF said City may deem IL proper to be p i'd by
said G lty or such proportion OF total cost and
| expense in anticipation Of the collection Oi
special assessments therefor as the City oun
c,l of said City may assess on lots and lands
abutIing on such streets or parts OF streets
| paved or sew cred, or such proportion Of tota
cost and expense as may be properly charge
able TO aud colleCtable from any Street Rail
way Company or any other person, association
OF persons, partnership or Corporation. AL
money which may be collected by said City
from said special assessments the collection o.
which may be so as aforesaid anticipated. anc
all money which may be collected by said City
from any Street Railway Company or othei
person. association OF persons, par tnership ol
Corporation. shall be placed in the tity Treas
ury. to the credit of the Paving and sewerage
fund for the purpose hereiubefore mentioned
or else applied by said City either to the pay
. 1nent of Interest on bonds issued under the pro
visions OF this ordinance or TO the redemption
Of such bonds or 10 the creation Of a sinking
nlpd for the redemDtion OF such bonds.
Section .. That for the purpose OF providing
n fund sun cient TO pay the interest on any ans
all bonds issued under said bond election anC
the IruvisiOns of this ordinance, said Cit.
Council shall provide by ordinance for the an
nual levy of a tax upon all the taxable proper
| Nv in said City suificient TO pay said interes
ana shall also levy in addition thereto from
time TO time tax upon all taxable propert,
OF said tty SUFFICIENT 10 redeem and pay th
bonds issued under the authority OF said bon'
| election by their maturity.
Section I. That this ordinance shall take ef
feet aud bs in force from and after the eallies
| neriod allowed by law.
Passed July 10, 1897.
JAMES MCCLURE,
President OF City Council
CARL BECKER, City Clerk.
U..ltf Al