The Marion daily mirror. (Marion, Ohio) 1892-1912, 1908-12-26

OF tne City OF Marion, Ohio, as, listed
and assessed for taxation, shall be
issued and sold in the mount of One
Thousand dollars ($1,000.O0). 1t is
therefore declared necessary by the
Council of the City of Marion, Ohio,
to issue said bonds in said amounts
for the purpose herein mentioned.
Section g.. Said bonds shall be is
sued under authority of an act of the
General Assembly of Ohio, entitled
"An act to lalmend sections 2835,
1886 and 1897, ana to repeal section
3S37+A of the Revised Statutes, au-
thorizlng the issuing of bonds by
cities, Villages, Hamlets and Town
ships" passed April 20, 1902, COS Ohio
Laws Page 91S to 1927 and all amend
ments thereto, including the amend
ment passed by the General Assem-
bly, of Ohio, April %. % and 25, 1904,
coz Ohio Laws, page 291, 100 and $50
respectively and March 20, 1906, (9S
Ohio Laws, page 63 and 67, inclusive
ly) and 9pril 30, 1908, to amend and
supplement section 81 Municipal code
900 Ohio Laws, pages 254 and 255.)
They shall bear date not later than
the LIST day of September, 1908, and
be due and payable as follows One
March 1, 1916, one September 1. 1917.
They shall be of the denomination OF
Five Hundred dollars each and shall
be numbered from one to two both
inclusive.
Section 8. Said bonds shall bear
interest at the rate of four per cent.
per annum, payable semi-annually,
and all the interest accruing on said
bonds. shall mature and be payable on
the first days of March and Septem-
her of each year, and for which the
proper Interest coupons shall be at
tached and made a part of said bonds.
Both principal and interest shall be
payable at the office of the treas
urcr of the City of Marion, Ohio.
Section 4. Said bonds shall be
signed by the Mayor and Auditor of
the City of Marion, Ohio, officially,
in their own hand writing, and have
affixed thereto, the corporate seal of
said city. Each coupon shall have
printed thereon facsimile of the sig
nature of the city auditor of the city
of Marion, Ohio; and the faith,
credit and property of the city
Marion, Ohio, are hereby irrevocably
pledged for the payment OF said
bonds and the interest thereon at
maturity.
Section 5. Said bonds shall ex-
press upon their face the purpose
fer which they are issued and that
they are issued in pursuance to this
ordinance, and shall be prepared, is
sued and delivered under the direc-
tion of the finance committee of
the city council and the city auditor,
and after having the same duly re-
corded in the offices OF the city
auditor and the trustees of the sink
ing fund, shall negotiate and sell the
same for and on behalf of the city of
Marion, Ohio in the manner provided
by law
Section 6. Said bonds shall be first
offered at par and accrued interest
to the trustees of the sinking fund
in their official capacity, and IL the
sinking fund trustees refuse to take
the same at 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.
Section z. The proceeds OF the
sale OF said bonds shall be paid into
the city treasury by said committee
of finance and set aside in fund des-
ignated as the street crossing fund.
All premiums and accrued interest
received 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 Ma
rion, Ohio, to be by them applied In
the manner prescribed by law.
Section 8. This ordinance shall be
in force from and after its passage
and earliest period allowed by law.
Passed December 21, 1908.
S. r. RAUIDAUSElR,
President of the City Council.
Approved by the Mayor Louis Scherff.
ATTEST: Charles NJ. Tobin City Clerk.
Star 24-31-OS. Mirror 26-OS-2-09.