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

To issue bonds for the purpose of i'm
proving Mound Street from the east
line of Spring Street to the west
line of Lot No. IT'S, 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
lnge of Logan, State of Ohio, three fourtts
of the members elected thereto concurr-
ing:-
SECTION I. That 1t is deemed necessary,
by the Council OF the Village of Logan, State
of ohio, to issue and sell, the bones OF said
Village, In the sum of $1,000 90 for the pur-
pose of participating the collection of assess
ments by installments to be paid by the
abutting property owners on Mound Street,
between the east line of Spring street, and
west line of Lot No: 49, In Logan, Ohio, for
the improvement of said street., by grading
curbing and paving the same with brick.
SECTION III. That the bonds of said VII
lage, be issued in the sum of S2700 o., for the
aforesaid purpose; each OF said bonds, to
be IN the denomination OF s27o 90. and mum;
made payable on the first day of March, one
each year beginning with March lst. 1910
and bear interest at the rate of 4 per per
cent. per annum, PAYABLE annually, EVIL
denced by coupons, attached thereto; said
bonds shall be dated June 22nd., 1902 and
shall run for period of one year, two years.
y
seven years, eight years, nine y, ars and ten
years from date; aud said bonds shall be
payable nt the Office of the Village Treasur-
er in the Village of Logan, State of Ohio,
SECTION III. Said bonds, shall express
u on the face their purpose for which they
are issued and that they are issued in pur.
suanee of this ordinance; They shall bepre-
pred, issued and delivered under the
direction of the finance Committee OF
the. Council and the Village Clerk
a shall be signed by the Mayor OF said
Village and by the Village Clerk, and sealed
ed witt the corporate seal OF said Village OF
Logan, State OF Ohio, and the Interest cou-
pons. att ached to said bonds, shall bs exc
cuted by the Village Clerk, with his sigma.
ture thereto, or he shall have the signature
printed or Autographed thereon.
SECTION Nv. Sa bonds shall be first Of
iered at par, and accrued interest to the
Trustees OF sinking funk In their official
capacity, and Ii the Sinking Fund Trustees
refuse to take any or all of said bonds a / par
ai d interest, then said bonds not so taken
shall be advertised for public sale, and sold
In tho manner provided by law, but not for
less than their par value and accrued Inter.
est.
SECTION V. The proceeds from the sale OF
said bonds, except the premiums and ac.
crued inlere t thereon, shall be placed in the
illage Treasury, TO the credit OF the Mound
street Paving Fund, and snail be disbursed
upon proper vouchers for the purpose OF im-
proving said Mound Street In Said Village,
and for no other purpose; and The premiums
and accrued Interest received from such
sale shall be transferred TO the Trustees OF
he sinking Fund, To be applied by them In |
the manner provided by law.
SECTION vi. This ordinance shall take |
effect and he In force from and after the |
earliest period allowed by law.
Attest, DIV, TnuRNEss,
Clerk protein.
Passed May ith,, 1909.
May 1,2-wks.