The Marion daily mirror. (Marion, Ohio) 1892-1912, 1911-03-28

ORDINANCE NO. %. To issue
bonds to pay the cOrpOratiun's part
of improving the first alley south OF
herewith from State street east to the
first alley running south in the City
of Marion, Ohio,
Be It ordained by the Council OF
the City of Marion. state OF Ohio:
expense of the citys part of improv-
ina the first allev south of Church
street and running parallel Herewith
from state street east to the first al
ley running south in accordance with
the provisions of an ordinance here
tofore passed. bonds of the City of
Marion. Ohio. shall be issued and sold
IN the amount of Eight Hundred Dol
Section .. Said bonds shall be is
sued under the authority OF an act of
the General Assembly of Ohio. en-
titled AN act to provide for the orr
ganization of cities and Incorporated
villages" etc. passed october ~. 1902
and all amendments thereto. and
especially under authority of section
% of said act and amendments there.
to. Said bonds shall bear date not
later than the first day of March. 1911,
aud be due and PAYABLE. as follows:
one, bond due March |; 1919. and ono
bond duo September /. 1912. They
shall be, of the denomination of Foul
Hundred Dollars each. and shall be
numbered QUO to two inclusive.
Section 3. Said bonds shall beai
interest at the rate OF -four. Dor cent.
per annum. payable semi-annuallv
and all interest HccruinE on said bonds
shall mature and be due and payable
in March and September of each year
and for which the proper Interest
coupons shall be attached and mad,
u part Of said bopds, Both principal
and nterest shall. be~savable ut thS
eIfiGe nds,,,, OF ,,; the Treasurer Of the CITY o.
Section 4. .Said bonds shall EXPIRES,
upon their face fire ptirnose for which
they are issued ana that they. arc is.
And each bond shall be signed by In,
MAYOR aud Auditor OF the City of Ma.
rion, Ohio, officially in their. own
handwriting. and affixed thereto tho
corporate seal of the CITY Of Marion
Ohio. Each coupon shall have printer
thereon fac sllnlle of the signature
OF the Auditor of said City of Marion
Ohio. And the faith credit and pro-
hereby irrevocaby pledged for the
payment of said bonds aud Interest
thereon at maturity.
Section 3. The committee of finance
of the Council Is hereby authorized
and directed to have said bonds ano
coupons properly prepared aud exc
cuted In accordance with the provisions
of this ordinance and after having tho
same duly recorded In the office of the
Auditor and in the office of the Trus.
tees of the Sinking Fund. to negotiate {
and sell the same for and on behalf
of the CITY of Marion. Ohio. in the
manner prescribed bv law.
Section s. Tho proceeds of tho sale
OF said bonds shall be paid Ia the Cit,
Treasury by said committee accordinr
20 law, All promums and accrued IN.
terest from the sale of said bonds
shall be transferred on the warrant OF
the City Auditor TO the Trustees of tho
Sinking Fund Of said City TO be BY
them applied I'm the manner prescribed
by law.
Section 7. This ordinance shall take
effect and be i'm force from and after
the earliest period allowed by law.
Passed March 10. 1911.
Earl 4, Smart, President Of the CITY
Council.
Approved by the Mayor. John G.
Setter. March t5 1911.
Attest: Miles Longshorc. City Clerk
star 3-a0-27-l1. Mirror 3-21.2S-1l