The Marion daily mirror. (Marion, Ohio) 1892-1912, 1911-02-28

ORDINANCE NO. &C. To provide
for the issuing of bonds in the sum of
one Thousand Dollars ($1,000) which
cent. of the total valuation of the
property of the CITY of Marion. Ohio,
as listed and assessed for taxation. 10
pay the cost and expense of providing
fire proof vaults or safes, for the pro:
lection of the records of the City OF
Marion Ohio. including labor, haul
ing, etc, incident to the installation
thereof.
BE Il ordained bv the Council of the
city OF Marion. State OF Ohio:
Section /. That to raise money to
pay the cost and EXPENSE OF providing
lection of the records of the city of
Marion. Ohio, including labor. haul
ing. etc, incident to the Installing
thereof, bonds of the city of Marion.
Ohio. not I'm excess of one per cent.
Of the total valuation of the property
OF the City OF Marion. OHIO. as listed
and assessed for taxation. shall be is
Thousand sand Dollars Csi.oOoJ. 1t is
wherefore declared necessary by the
Council OF the City of Marion. Ohio,
TO issue said bonds in said amounts
for the purpose herein mentioned.
Section 2. Said bonds shall be Is
sued under authority of an act of the
General Assembly OF. Ohio, entitled
An act to amend sections 2S3S, 2sSS
OF the Revised Statutes AUTHORIZING
the Issuing OF bonds by cities, villages
hamlets and townships" passed April
29 1902. COS Ohio Laws. Pages 31S
to s22) and all amendments thereto,
including the amendment passed by
the General Assembly Of Ohio April
%. 2S and 25s; 1904. SS7 Ohio haE3. Laws
and March .22,. 1906. (9s Ohio Laws.
Page G3 and G7. inclusivelv) April 30.
1908. to amend and supplement- sec
ton 81 Municipal Code (gg % Qhio
1909 Goo Ohio Laws. Page $50, and
the amendment limiting the power to
issue bonds passed by. the General
Assembly Of 9hio s Msy TO- S1S ls1S so, GS1
bear date not later than the first day
| of March. 1911. and be due and pay
able as follows: One September l,
be of the denomination of Five Hun
| dred Dollars each and shall be num-
bered from one to two both inclusive.
| Section B., Said bonds shall bear in
per annum. payable semi-annually,
and all the interest accruing ON said
bonds shall mature and be payable on
ber of each year. and for. which the
proper interest coupons shall be at
tached and made a part of said bonds.
Both. principal and interest shall be
of the. City of Marion. Ohio.
Section 4. Said bonds shall be sign
ed by the Mayor and Auditor Of the
fixed thereto the corporate seal of
said city,, Each coupon shall have
printed thereon a facsimile of the
city. of Marion Ohio. and the faith,
credit and property of the city of Ma
rlon. Ohio are hereby irrevocably
pledged for the payment of said bonds
and the interest thereon at maturity.
Section g.. said bonds shall express
upon their face the purpose for which
they are Issued and that they are is
nS n Se Of nS SnS s
livered under the direction of the n
nance committee OF the city council
and the city auditor. and after hav-
office of the city, auditor. and the
trustees of the sinking fund. shall ne
gotiate and sell the. same for and on
behalf Of the city of Marion. Ohio. in
Section o. Said bonds shall be first
offered at par and accrued interest
to the trustees OF the sinking fund to
their offlcial capacitys and II the sink 1Ec
same at par and interest. then said
bonds shall be sold In the manner pro-
vlded by law. but not for less than
s Section @ T. The sr proeseds % Of sisit; the sale
of said bonds shall be paid into the
city treasury by said. committee Of
finance and set aside In Q fund deslg.
mated as the Fire Proof Vaults and
crued interest received from the sale
of said bonds shall be transferred on
warrant of the city auditor. to the
City OF Marion, Ohio, to be by them
applied In the manner prescribed by
law
Section s. This ordinance shall be
in force from and after lis passage
and earliest period allowed by law.
Passed February 13, 1911.
Earl IT, Smart. President OF the CITY
Council.
Setter. February II. 1911
Attest: Miles Longshore. City Clerk
Star 2-20r2T. Mirror 2-2l-2S