The Marion daily mirror. (Marion, Ohio) 1892-1912, 1912-01-18

Blaine Avenue Paving ,..... .07b5.0O
| ONO er "a slihH ad--
1890 'n $3S025.O0
to the amount Of Thirty eight Thou
sand Nine Hundred and Twenty-Five
Dollars C$3S9g5.OO), all Of said indebted
ness, which Is hereby determined and
declared to he an cXistingi valid and
binding obligation % the City of Ma
rion, Ohio. idguA 8tiSlom sfI l
And, whereas, said indebtedness
bears interests at the rate Of six per
cent. per annum, It appears to the
Council Of the city of Marion, Ohio, 10
| he for the best interests OF said city
| to refund said Indebtedness End there
/ by reduce the rate OF interest thereon.
Therefore. BE it ordained by the
Council Of the City of Marion, State oe
Ohio:
Section /. That for the purpose Of
rofunding said Indebtedness there shall
I've issued bonds of the city of Marion,
Ohio, in the sum of Thlrty-elght Thou
sand Nine Hundred and Twenty Five
Dollars ($3S, ,925OO) which said bonds
shall be issued Of the denomination of
| Five Hundred Dollars each, except the
last bond which shall be OF the denom-
inatlon OF Four Hundred and Twenty
| five Dollars and be numbered consecu-
lively from one to seventy y-eight inclu-
| sive to be paid at the Treasurer's office
of the CITY OF Marion, Ohio, bearing
interest at the rate OF four and one
half per cent per annum, payable
semi-annually at the same place, said
bonds shall be dated not later than the
first dav of September. 1911, and shall
be due and payable as follows:
Two bonds March I. 1912.
Two bonds, September 1, 1912
-Four bonds March l. 1913.
Five bonds September /, 1913.
-Four bonds March /, 1914.
Five bonds September ], 1914.
Four bonds March l. 1915.
Five bonds September /. 1915.
Four bonds March 1, 1916.
Five bonds September /, 1916.
Four bonds March l, 1917,
Five bonds September /. 1917
Four bonds March /, 1915
| Five bonds September I, 1918.
-Four bonds March 1. 1919.
| Five bonds September /. 1919.
Four bonds March /, 1920.
Five bonds September 1, 1920.
one bond March /. 1921
! One bond September /, 1921.
Section g Said bonds shall express
upon their face the purpose for which
they are issued and that they are is-
sued in pursuance OF this ordinance.
They shall be prepared, issued and de-
liyered under the direction of the FL
nance Committee of the City Council
and the CITY Auditor, and shall be
signed by the Mayor Of said city and
lby the City Auditor In their official
cnpacity. and shall he affixed thereto
the corporate seal Of the city of Ma
rion, Ohio.
Each coupon shall bear the sigma
ture of the facsimile of the same of
the CITY Auditor Of the City of Marion.
Ohio, and the faith, credit and prop
erty Of the City Of Marion. Ohio, are
hereby irrevocably pledged for the pay
ment Of said bonds and the interest
thereon at maturity.
Section 8. The Finance Committee
ture or the fac-simile OF the same Of
duly recorded in the office Of the city
Auditor and the Trustees OF the Sink
Ing Fund shall negotiate and sell the
same for and on behalf Of the City OF
Marion, Ohio, In the manner provided
lDy law
Section 4. Said bonds shall be first
offered az par and accrued interest 70
the TruHtees Of the Sinking Fund in
their official capacity ana II the Sink
ting Fund Trustees refuse to take the