The Celina Democrat. (Celina, O. [Ohio]) 1895-1921, 1910-05-27
RESOLUTION No. 166

To provide for the Issuing of bonds of the
Village Of Celina in the sum of Twenty
Thousand (S20 100000 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 IL resolved, by the Council Of the VII
lage OF Celina, State of Ohio:
Section THAT certain Indebtedness here
tofore incurred by the Village of Oelina, to-
wit; That incurred in the sale of bonds
under the head Of Highway Improvement
Bonds to the amount of Ten Thousand
lSlO,0OOOO) Dollars also interest on various
bonds for Water-works and Fire Protection,
Highway Improvement, Electric light
Plant, Refunding, West Fayette Street I'M
proyement, East Livington Street Improve
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, Refunding out
standing orders, Main Street Improvement,
West Market Street Improvement, and
Water-Works extension for soft water, to
the amount of Ten Thousand (Sl0OOO.O0) Dol
lars, is hereby determined and declared to
be an existing, valid and binding obligation
of said Village.
Sec. 2-To provide means to extend the
time of payment of said indebtedness,
which. from its limits of taxation, said VII
lage Is unable to pay at maturity, there
shall be Issued the bonds of said Village of
Oelina to an aggregate amount of Twenty
Thousand 1920 100000 Dollars, which bonds
shall be in the denomination of Five Hun
dred (SJO0O0 Dollars each, and numbered
consecutiYely from to 40, inclusive, all pay
able at the treasurers Office in Celina, State
of Ohio, and all bearing interest at the rate
OF four "a per cent. per annum, payable
semi-annually, at the same place.
Said bonds shall be dated May ], 1910, and
shall run for a period of 8, 10, IL and II years
from their date, or due May !, 1919, May l.
1920, May l, 1921, and May l. 1922.
Sec, 3-Said bonds shall express upon their
face the purpose for which they are issued,
and that they are issued in pursuance OF
this resolution.
They shall be prepared, issued and deliv-
cred under the direction of the Finance
Committee of the Council and the Village
OIerki 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
par and accrued interest to the Trustees of
the Sinking Fund in their official capacity, |
ana II 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 |
tnan their par value and accrued interest. |
The proceeds from the sale of said bonds |
except the premium and accrued interest |
snail be used for the purpose of paying the |
indebtedness aforesaid, and for no other
purpose, and the premium and 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.
Sec. 6-This resolution shall take effect |
and be in force from and after the earliest
period allowed by law.
Passed May "a, 1910.
HENRY LHNNARTZ,
President pro tenn. of Council.
Attest j. M. WINTER, Village CLERK.