The Celina Democrat. (Celina, O. [Ohio]) 1895-1921, 1910-06-03
RESOLUTION No. l66

To provide for the issuing of bonds of the
Village of Oelina in the sum OF Twenty
Thousand (S20,OOO.00) Dollars for the pur-
pose of extending the time OF payment
OF certain Indebtedness, which, from its
limits of taxation, said Village is unable
to pay at maturity.
Be 1t resolved, by the council OF the VII
lage of Oelina, State of Ohio:
Section THAT certain indebtedness here
tofore incurred by the Village of Celina, to-
witt That incurred in the sale of bonds
under the head of Highway lmproVemenI
Bonds to the amount OF Ten Thousand
| (Sl0,000.O0) Dollars; also interest on various
bonds for Water-works and Fire Protection,
Highway Improvement, Electric ughJ
Plant, Refunding, West Fayette Street Inn
provement, East Ldyington street mproye-
ment, Electric-light and Water-Works
Plant, Walnut Street Improvement wal
nut street, corporation part; East LIVING
ston street, corporation part East Market
Street Improvement, West Livingston
Street Improvement; East Market and
West Livingston Streets, corporation part /;
Main Street Improvement, Retundlng OUT
standing orders, Main Street lmproVement,
| West Market Street, corporation part ;
West Market Street Improvement, ana
| Water-works extension for soft water, to
| the amount of Ten Thousand (SlO,OOO.OO) Dol
| lars is hereby determined and declared to
be an existing, valid and binding obligation
of said Village
/ time of payment of said indebtedness,
which. from It's limits of taxation, said Vii
/ lage is unable to pay at maturity, there
|
! Celina to an aggregate amount. OF Twenty
| Thousand (S20,000,00l Dollars, which bonds
| shall be in the denomination OF Five Hun
| dred (S50O.00 Dollars each, and numbered
/ consecutively from to 40, inclusive, all pay
| able at the treasurer's othce In Oellna, state
of Ohio, and all bearing interest at the rate
of four I'd per cent. per annum, payable
| semi-annually, at the same place.
| Said bonds shall be dated May i, lvlO, ana
shall run for period Of 9, 10, II and II years
from their date, or due May ], 1919, May l.
I I0rT /
| Sec, 3-Said bonds shall express upon their
/ face the purpose for which they are Issued,
and that they are issued in pursuance OF
They shall be prepared, issued and dellv-
| cred under the direction of the Finance
/ Committee of the Council and the Village
| Clerk and shall be signed by the Mayor OF
| said Village and by the CLERK, and sealed
| with the corporate seal of said village, and
] interest coupons attached to said bonds
| shall be executed by the Village CLERK with
| his signature thereto, or he shall have his
/ signature printed or Autographed thereon
sec, 4-Said bonds shall be first offered at
| mar and accrued interest to the Trustees OF
| the Sinking Fund in their official capacity
and IL the Sinking Fund Trustees refuse TO
| take any or all of said bonds at par and ac-
crued interest, then said bonds not SO taken
| shall be advertised for public sale and sold
/ in the manner provided by law, at not less
than their par value and accrued interest
| The proceeds from the sale OF said bonds
/ except the premium and accrued interest
! shall be used for the purpose OF paying the
| Indebtedness aforesaid, and for no other
! purpose, and the premium ana accrued In
| terest received from such sale shall be trans
| ferred to the Trustees of the Sinking Fund
| to be applied by them In the manner pro-
/ vided by law.
and be IN force from and after the earliest
period allowed by law.
Passed May "a, 1910; - uDroy ,,r1
/ President pro tenn. OF Council.
1 Attest: j. M. WINTER, Village Clerk.