The Marion daily mirror. (Marion, Ohio) 1892-1912, 1907-10-17


general assembly of Ohio entitled i
An act 10 amend sections 1895, 1886
and 2S37 and to repeal section 2S37
A Of the Revised Statutes authorizing
the issue Of bonds by cities, villages,
kanlets and townships" passed
April 20. 1902 COS Ohio laws, page
J1S to 222) and all amendments there
to including the amendments, passed
by the General Assembly ot Ohio
April o., % and 25, 1904, (97 Ohio
Laws, page 291, 1870 and 500 respec-
tively) and March %, 1906, (9S Ohio
Laws page SO to 81 respectively. !
They shall bear date not later than
the 1st day OF December. 1907, and ybss
due and payable as follows: NV
One March 1, 1909. 1853 0f
One March !, 1910. iw
One March I, 1911. u
One September 1, 1909.
One September /, 1910.
One September /, 1911.
One September 1, 1912. ~
They shall be of the denomination
of Five Hundred Dollars each except
last one which shasll be of but Fif-
lty Dollars and shall be numbered
from one to seven both inclusive.
Section 3. Said bonds shall bear in
lterest at the rate of four per cent
lper annum payable semi.annualiy and
Jail the interest accruing on said
Ibonds shall mature and be payable
Jon the first days of March and Sep
ltember Of each year, and for which
THE proper interest coupons shall be
ATTACHED and made part of said
bonds. Both principles and interest
,shall be payable at the office of the
Treasurer OF the City of Marion,
lOhio.
Sec. 4. Said bonds shall be sign
led by the Mayor and Auditor of the
City Of Marion. Ohio, officially in
their handwriting and have affixed
Thereto the corporate seal of said
City. Each coupon shall have printed
thereon 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. S. Said bonds shall express
upon their face the purpose for which
. they were issued and that they were
issued in pursuance to this ordinance
, land shall be prepared issued ant
delivered under the direction of tn,
, Finance Committee of the City Coun
; lcil and the City Auditor, and, aftel
, having the same duly recorded in tn,
offices Of the City Auditor and til,
Trustees Of the Sinking Fund, shal
| negotiate and sell the same for ant
In behalf of the City of Marion, Ohio
! and In the manner provided by law
! Sec. G. Said bonds shall be firs
offered at par and accrued interes
i to the Trustees OF the Sinking Fun,
: Lin their official capacity and II tn
5 Sinking Fund trustees refuse to talk
lthe same at par and accrued interes
: then said bonds shall be offered a
public sale and sold in the manne
. provided by law but not for less thai
. their par value and accrued interest
Sec. z. The proceeds OF the sal
Iof said bonds shall be paid into tn
City Treasury by said Committee O
+. Finance and set aside in Fund de
3 ,signated as Clty's portion of stree
Improvement fund. All premium
and accrued interest received from
tthe sale of said bonds shall be trans
ferred on warrant OF the City Audi
. tor to the Trustees Of the Sinkin
Fund OF the City of Marion, Ohio
TO be by them applied in the name
provided by law.
:, Sec. 8. This ordinance shall be Il
force from and after Its passage an
earliest period allowed BY law
Passed October z, 1907. Is
s. r. RAUHAUSER,
> President OF the City Council
Approved by the Mayor. Loui
lScherff. r( ,a.-
xttest: William Fies.S City Clerk.
Star a10-9- 16-07 Mirror 1O-1O-17.O7