The Marion daily mirror. (Marion, Ohio) 1892-1912, 1907-09-19

the issue of bonds by cities, villages,
hamlets and townships" passed APP
! ril 29. 1902, (95 Ohio Laws. page 3tS
to 1927 and all amendments there
' to including the amendment passed
tby the General Assembly of Ohio
April %. 23 and 25, 1904 (97 Ohio
Laws page 29t, 1870 and 500 respect
lively) and March 22 1906, t9S Ohio
Laws page G3 to G7 incluisvely)
They shall bear date not later than
the 1st day of November, 1907, and
be due and payable as follows
One March 1st, 1909. One March 1st.
1910 One March 1st 1911. One
March lst, 1912. One March 1st, 1913.
lThey shall be of the denomination of
FIVE hundred dollars each and shall
be numbered from one to five both in
elusive
Sec. 3. Said bonds shall bear inter-
est at the rate of four per cent. per
Iannum payable semi-annually, and all
the interest accrung on said bonds
shall mature and be payable on the
first days of March and September of
each year, and for which the proper
interest coupons shall. be attached
and made a part of said bonds. Both
principle and interest shall be pay
able at the office of the Treasurer
of the City of Marion, Ohio.
Sec. 4 Said bonds shall be signed
by the Mayor and Auditor of the
City of Marion, Ohio, officially in
their ow handwriting and have
affixed therto the corporate seal of
said iCty. Each coupon shall have
printed thereon a fac-simile of the
signature of the City Auditor of the
City of Marion, Ohio. And the faith,
credit and property of the City of
Marion, Ohio, are hereby irrevocably
pledged for the payment of said bonds
and the interest thereon at maturity,
Sec. ). Said bonds shall express
upon their face the purpose for which
they were issued and that they were
issued i'm pursuance Of this ordinance,
and shall be prepared, issued and de-
livered under the direction of the
Finance Committee of the City Coun-
Gil and the City Auditor, and, after
having the same duly recorded in the
offices of the City Auditor and the
Trustees Of the Sinking Fund, shall
and sell the same for and
on behalf of the City of Marion.
Ohio, and in the manner provided by
law
Sec. G. Said bonds shall be first
offered at par and accrued interest to
the Trustees Of the Sinking Fund i'm
their official capacity and If the
Sinking Fund Trustees refuse to take
the same ut par and interest then
said bonds shall be offered at public
sale and sold in the manner provided
by law. but not for less than their
par value and accrued interest.
Sec. T. The proceeds of the sale
of said bonds snail be paid into the
City Treasury by said Committee of
Finance and set aside in a fund des-
Iignated as Public Service Fund. All
premiums and accrued interest re-
,ceived from the sale of said bonds
shall be transferred on warrant of
the City Auditor TO the Trustees Of
the Sinking Fund of the City Of
Marion. Ohio. to be by them applied
In the manner prescribed by law,
Sec. s. This ordinance shall be
in force from and after its passage
land earliest period allowed by law.
Passed September 1G. 1907.
s. r. RAUHAUSER,
President of the city Council,
| Approved by the Mayor Louis
IScherff.
Attest: William Flies, City Clerk.
Star 9-lS-25-07. Mirror 9-l9-2G-O7.