The Marion daily mirror. (Marion, Ohio) 1892-1912, 1912-01-11

Miami Street sewer. ............. lI4oVf
Campbell Street Sewer.......,. S42.23
Monroe street Sewer ........ 95G.00
Carhart street Sewer. 675OO
Sidewalks 6251 81
Campbell Street Paving. ...... S7935
Vine street Paving. ......... 17O770
st. James street Paving. ..... 4492OO
Olney Avenue Paving. 133OOVO
/ LIST Alley West '.f Prospect
Street Paving. g.........,...... 10000
Blaine Avenue Paving. ........ 6755.OO
sss925.OO
to the amount of Thirty-eight Thou
sand Nine Hundred and Twenty-Five
Dollars (SSS925OO), all OF said indebted
ness, which is hereby determined and
declared to be an existing, valid and
binding obligation os the City of Ma
rion, Ohio
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, to
be 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 I. That for the purpose of
refunding said Indebtedness there shall
he issued bonds OF the city Of Marion,
Ohio. i'm the sum of Thirty-eight Thou
sand Nine Hundred and Twenty-Five
Dollars (s3S,925.OO) which said bonds
shall be issued of the denomination OF
Five Hundred Dollars each, except the
last tond which shall be Of the denom'
nation Of -Four Hundred and Twenty
, five Dollars and be numbered consecu-
, lively from one TO seventy eight inclu-
slve to be paid at the Treasurers 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 day 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 1, 1913.
Four bonds March l. 1914.
Five bonds September !, 1914.
-Four bonds March 1, 1915.
Five bonds September L. 1915.
-Four bonds March /. 1916.
Five bonds September l. 1916.
Four bonds March /, 1917.
Five bonds September l. 1917.
Four bonds March l, 1918.
Five bonds September l, 1918.
Four bonds March 1. 1919.
Five bonds September /. 1919.
Four bonds March /, 1920.
Five bonds September /, 1920.
one bond March l. 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 he prepared issued and de-
livered under the direction of the III
nance Committee of the city Council
and the CITY Auditor, and shall be
signed by the Mayor Of said city and
by the City Auditor in their official
cupacity. and shall be affixed thereto
the corporate seal Of the CITY Of Ma
rion. Ohio.
Each coupon shall bear the sigma
the CITY Auditor of the City OF Marion.
ohio, and the faith, credit and prop
erty OF the City Of Marion, Qhio.i ore
hereby irrevocably pledged for the pay
ment Of said bonds and the interest
thereon at maturity.
Section 3. 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
by law.
Section 4. Said bonds shall be first
offered at par and accrued interest to
their official capacity and II the Sink
Ing Fund Trustees refuse to take the
same at par and accrued interest, then
said bonds shall be offered at public
sale and sold in the manner provided
by law not for less than their par
value and accrued interest.
Section r. The proceeds from the
sale Of said bonds, except premium and
accrued interest. shall lie used for the
purpose Of paying the indebtedness
aforesaid, and for no other purpose
And the Mayor and the city Auditor,
under the supervision of the Finance |
Committee Of the City Council. be and |
they are hereby authorized to cancel |
ard destroy the Indebtedness above |
mentioned and the premium and ac- |
crued interest received from the sale |
Of said bonds shall be transferred TO |
the Trustees OF the Sinking Fund to be |
by them applied in the manner provld-
ed by law.
Section G. This ordinance shall be in
force from and after the earliest period
allowed by law.
Passed January 8, 1912.
EARL II. SMART.
President of City Council
Approved by the Mayor, Claude ID.
Walters.
Attest; Elmer e. Blazer, City Clerk
Pub. in Star Jan. 1917.
Tul4 IN Mif.,.ot. 4 |