The Celina Democrat. (Celina, O. [Ohio]) 1895-1921, 1912-09-20
Resolution No. 1872

! To provide for the issuing OF bonds of the
Village of OelinH in the sum of Ten
Thousand tSlO.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 ii resolved by the Council of the vii
| laRe of Oelina, State of Ohio:
Section /. That certain indebtedness
heretofore incurred by the Village OF Celi-
| ma, to-wit: That incurred in the sale of
bonds under the head of Water Works and
Fire Protection; Highway improvement,
series one; Electric Light; Refunding.
series one; West Fayette Street; East Liv-
ingston street; East Livingston Street.
corporation part; Walnut street; Walnut
street, corporation part; East Market
Street; West Livingston Street; Main
Street; Main Street in anticipation of col
lection of assessment; Main Street, corpor-
alton part; Refunding outstanding orders,
series two; Electric-Light and Water
Works: West Market Street; West Market
street, corporation part; Refunding, series
three; Extending water lines; East Market
and West Livingston Street, corporation
part; and Highway Improvement, series
two, to the amount OF Ten Thousand
(Sl0,O00O0l Dollars, is hereby declared and
determined to be an existing, valid and
binding obligation OF said village.
Section 2. To provide means to extend
the time of payment of said indebtedness,
which, from its limits of taxation, said viii
laRe is unable to pay at maturity, there
shall be issued bonds in the Village of Celi-
na to an aggregate amount of Ten Thousand
$50 100000 Dollars, which bonds shall be in
the denomination of Five Hundred (S50OOO)
Dollars each, and numbered consecutively
from to 20, inclusive, all payable at the
Treasurer's office, in Oelina. State of Ohio,
and all bearing interest Mt the rate of four
(4l per cent perannum, payable semi-annu-
ally at the same place.
Said bonds shall be dated September l.
1912, and shall run for period of 10, IL, II,
13, II, Is, l6, II, Is and 10 years from their
date, or two bonds Of S500.00 each due Sep
tpmheF /, 1921 two bonds of 500 90 pnpl
due September !, 1923; two bonds of $50000
each due September l, 1924; two bond of
10000 each due Septemberl 1925; two bonds
OF $4,000 each due September /, 1925; two
bonds OF S5C0.00 each due September /, 1927;
two bonds OF $4,000 each due September |,
1925 two bonds OF $4,000 each due Septem-
bet !, 1929; two bonds of $4,000 each due
September l, 1880; two bonds of S500.00 each
due September l. 1881.
Section 8. Said bonds shall express upon
their face the purpose for which they are
issued. and that they are issued in pursu-
ance of this resolution.
They shall be prepared, Issued and deliv-
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 thereon, or he
shall have his signature printed or litho-
gTaphed thereon.
Section A. Said bonds shall be first offered
at par and accrued interest to the Trustees
of the Sinking Fund in their official capaci-
ty and IL the Sinking Fund Trustees refuse
to take any or all of said bonds at par and
accrued 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 ac-
crued interest, shall be used for the pur-
pose of paying the indebtedness aforesaid,
and for no other purpose, and the premium
and accrued interest received from such
sale shall be transferred to the Trustees of
the Sinking Fund to be applied by them in
the manner provided by law.
Section 8. This resolution shall take effect
and be in force from and after the earliest
period allowed by law.
Passed September n, 1912.
III. A. MILLER, President of Council.
Attest: j. X. OARLIN, Village CLERK.