The Democrat-sentinel. [volume] (Logan, Ohio) 1906-1935, 1908-08-27
AN ORDINANCE

TO issue bonds for the purpose of con-
structing sewers on North Street
from Canal Street to Cherry Avenue;
ON the GAINESVILLE road, from the
Goose Creek bridge to It's intersec-
Ilon with Hunter Street: and also
that territory of the Village of Lo-
gan, south and west of the locking
Canal and north of the Hooking
River.
BE i ordained Ivy the Council of the VII.
| lage OF Logan, State Of ohio, two thirds of
the members elected thereto concurlng:--
| SECTION !, That It IS deemed necessary
ny lhccuuncll Of Village of Logan, state OF
ONO, tu issue ana sell the bonds of said VIZ
lngc In the sum of 5000 M for the purpc Sc of
constructing sewers on North Street, from
onnnl street to Cherry Avenue OH the
to- It's intersection with Hunter street, aud
also That territory of the Village OF Logan,
south ana west of the Hooking Canal and
north OF the Hooking River,
SEcTInN2 ?. That the bonds OF snid Village
he issued in the sum of $7OUOOn for the afofe-
shid purpose; each of snld bonds to he In the
denomination Of $1,000 ana numbered con-
setuliNGlN ON one % seven, and all made
pnynbl" ON the first day of March, one each
year, beginning with March list. 1910, and
bearing interest nt the rate OF four per cent
per annum, payable annually, evidenced by
coupons attached thereto: said bonds shall
be dated october j, lHOS, ana shnll run for u
period OF one year, two years, three years,
four years, i've years, SIX years seven years
from snid date. and said bonds shall be pay
able at the office ot the Village Treasurer In
Nillnge OF Logan, ohio.
SECTION 3. Said bonds shall express upon
their face the purpose for which they are
ISSUED, ,and that they are is,u ued In pursuance
OF this ordinance. They shall be prepared,
Issued ana delivered under the direction of
the Finance Committee of Council and the
Village Clerk, and shall be signed by the
Mayor and Clerl, OF snid Village; and sealed
by the corporate seal of said Village: and
the int crest coupons attached to said bonds
shall he executed by the NIlnge Clerk, with
his signature thereto, or he shall have his
signature autographed thereon.
SECTION /. said bonds shall first be Of
icred at par and accrued Interest to the
trustees of the sinking Fund in their ot1i
clnl capacity, ana If the Sinking Fund Trus-
tees refuse To take any ornll of said bonds at
par and interest, then said bonds, not so
taNcn, shall bendvertiscd for public sale and
sold in the manner provided by law, but
not for less han their par value and ac-
crbed interest.
SECTION .. The proceeds from he sale OF
said bonds. except the premium ana ac-
crued interest thereon, Shall he placed in
The Village Treasury To the credit of the
"Sewer Construction Fund and shall be
disbursed upon proper vouchers for the
purpose of constructing the sewers herein
before set ont and provided FOR, ana for no
other purpose: and the premium and ac-
crucd inter, ST received from such, sale, shall
bo transferred to the Trustees of the Sinking
fund 10 be applied 10y them in the manner
provided by law,
SECTION 4. This ordinance shall take ef-
feet and he in force ftom ana after the earl
i"st period allowed by law,
Passed August 70, 1903.
ID. V. THURN ESS,
Mayor,
FRED C.GRONE,
August -, Nv Clerk.