The Marion daily mirror. (Marion, Ohio) 1892-1912, 1908-12-26
{ "A M M a N N S.

to refund said indebtedness ant
thereby reduce the rate of interesl
thereon.
Therefore, Be IL ordained by thu
Council of the City OF Marion, State
of Ohio:
Section 1. That for the purpose o.
refunding said indebtedness ther,
shall be issued bonds of the City o.
Marion, Ohio, in the sum of Thirty
nine Thousand Nine Hundred dol
lars ($39,900) which said bonds shall
be issued of the denomination of Ffv,
hundred dollars each, except the las
bond which shall be of the denomina
ton of -Four hundred dollars, and b,
numbered consecutively from one tC
eighty inclusive, to be paid at the
Treasurer's office of the City of Ma,
rfon, Ohio, bearing interest at the
rate of four per cent. per annum, pay
able semi-annually at the same place
said bonds shall be dated not Later
than the first day of September, 1908
and shall be due and payable as fol
lows:
-Four bonds, September 1, 1909.
-Four bonds March 1, 1910.
-Four bonds September 1, 1910.
Four bonds March 1, 1911.
Six bonds September l., 1911.
-Four bonds March 1, 1912.
-Four bonds September /, 1912.
-Four bonds March 1, 1913.
Six bonds September 1, 1913.
Four bonds March /, 1914.
-Four bonds September 1, 1914.
Three bonds March I, 1915.
-Four bonds September 1, 1915.
Three bonds March 1, 1916.
-Four bonds September /, 1916.
Three bonds March 1, 1917.
-Four bonds September i, 1917.
Three bonds March 1, 1918.
Four bonds September 1, 1918.
-Four bonds March I, 1919.
Section 2. Said bonds shall ex-
press upon their face the purpose
for which they are issued and that
they are issued in pursuance of this
ordinance. They shall be prepared
issued and delivered under the d.
rection of the Finance Committee OF
the City Council and the City Aud
itor, and shall be signed by the
Mayor of said City and by the City
Auditor in their official capacity, and
shall have affixed thereto the corpo-
rate seal of the City of Marion, Ohio.
Each coupon shall bear the sigma
ture or the fac-simile OF the same OF
the City Auditor OF the City of Ma
rion, Ohio, and the faith, credit and
property of the City of Marion, Ohio,
are hereby irervocably pledged for the
payment of said bonds and the inter-
est thereon at maturity.
Section 3. The Finance Committee
OF the Council after having the same
duly recorded In the office OF the
City Auditor and the Trustees of the
Sinking Fund shall negotiate and sell
the same for and on behalf of the
City of Marion, OHIO, IN the man
ner provided by law.
Section 4. Said bonds shall be firs.
offered at par and accrued interest
to the Trustees of the Sinking Fund
in their official capacity, and II the
Sinking Fund Trustees refuse TO take
the same at par and accrued inter-
est then said bonds shall be offered
at public sale and sold in the man
ner provided by law not for less than
their par value and accrued interest.
Section g.. The proceeds from the
sale of said bonds, except premium
and accrued interest, shall be used
for the purpose of paying the indebt-
edness aforesaid, and for no other
purpose. And the Mayor and the
City Auditor, under the supervision
OF the Finance Committee, of the
City Council, be and they are here
by authorized to cancel and destroy
theindebtedness above mentioned and
the premium and accrued interest re-
ceiyed from, the sale of said bonds
shall be transferred to the Trustees
of the Sinking Fund to be by them
applied In the manner provided by
law.
Section 6. This ordinance shall be
In force from and after IT'S legal pub
lication.
Passed December 81, 1908.
s. r.. RAUHAUST1R,
President of the City Council.
A