The Democrat-sentinel. [volume] (Logan, Ohio) 1906-1935, 1909-05-13
AN ORDINANCE.

To issue bonds for the purpose of i'm.
proving Hill Street from the east
line of Lot No. 760 to the west line Of
Cherry Avenue, in the Village OF
Logan, State of Ohio, by grading
curbing and paving the same with
brick.
BE 1t ordained by the Council of the VII.
lace OF Logan. state of Ohio, three fourth
| of the members ele cted thereto concurring:
| SECTION | That 1t is deemed ecessary by
| the Council OF the Village Of Logan, State
of Ohio, to issue and sell, the bonds of said
Niliage, in the sum OF Sl60lO0, for the pur-
pose of anticipating the collection of asse ss-
menis by installments to be p Id by the
abutting property owners of II Ill Street, bc.
tween the east line of Lot No, 76O aud he
for he Improvement of satd street, by grad
ing, curbing and pavilg the same with
brick.
SECTION H.. That the bonds of said VII
lage, he Issued in the sum OF 100000, for the
aforesaid purpose each of said bonds, TO
be in the denomination of $lG0 90 and mum
bered consecutively from one to ten a. d nil
made payable on the first day of March, one
each year beginning with March lst., l9in,
and bear interest at the Iate of per cent
per annun, payable annually, evidenced by
coupons, attached thereto; said bonds shall
b daled I1ne End 1892 and shall run for Il
period OF one year, two years, three years,
four years, five years, six years, seven yea s.
elshl years, nine yenrs and ten years rom
dnte and said bonds shall he payable at the
Office OF the Village Treasurer In the VII
lage Of Logan, state of Ohio.
SECTION III, Said bonds shall express up.
on their face Lurpt SO for which they nre
Issued and that they are issued In pursuance
OF this ordinance They shall be prepared,
issued and de ivered underi he direction Of
the Finnnce Committee Of the Council and
the Village Clerk, and shall he signed by
ne Mayor ot said village, aud by lie
Village Clerk, ana sealed with tho
corporate seal Of said Village of Logan,
Sth,e OF ONO, and he interest coupons, at
lached 70 said bonds, shall be executed by
the Village Clrrk, vii Ii his signature there
10, he shall have his Sig ature printed or
Autographed thereon.
SECTION ". said bonds shall he first
Offered a par and accrued interest To the
Trustees Sinking Fund in their official
capacity, and If The Sinking Fund Trustees
refuse 20 take any. or all OF said bonds ut
PR aud interest, then said bonds not so
lhken shnll be advertised for public sale
ana sold IN the manner provided by law,
but not for less than their par value and ac-
crued Interest,
SECTION " The proceeds from the sale
OF said bonds, except the d emiums ana ne
crued Interest thereon, shall be placed In
the Village Treasury Ia the credit OF the
nm street Paying Fund. and shall be dis
pose of Improving Hill street IN said VII
lhge, ana Tor no other purpose; and the
premiums ANA accrued iuterest received
from such sale shall be transferred to The
Trustees OF he sinking Fund 10 be applied
by Them In the manner provided by law.
SECTION VI. This ordnance shall take
effect and be In force from and after the
earliest period allowed by law.
Attest; d. V. THURNEss,
B. BAY, Mayor.
Passed May itn., l9OJ
May, q, 2-wks.