The Medina sentinel. [volume] (Medina, Ohio) 1888-1961, 1915-08-13
Nm ORDINANCE
SAFE IN BONDS

i aH
An ordinance to issue and sell bonds
for the purpose Of extending and con-
structing water mains in East LiDer-
ty street East Friendship streets
East North street North Jefterson
street from East Eriendship ds.h Strees
Spring Grove Avenue. North Harmony
street, North East street, West Smith
Road, South Prospect street, and south
Huntington street. In East Union
street from North Court street TO North
Broadway, and from Union street on
North Court street from Union street
north to corporation line. E
Be it ordained by the Council Of the
Village Of Medina, State Of Ohio, three
fourths of all members elected thereto
concurring: gg
SECTION 1. That 1t 10 deemed me-
cessary, for the purpose OF supplying
where sewer is to be extended, by the
Council Of said Village OF Medina, Ohio,
to issue and sell bonds Of said village
in the sum. of eight thousand dollars.
for the purpose of raising tunds Witn
which to pay for the construction OF
water mains and pipes in East Liber-
ty street from Harmony street TO
Spring Grove avenue in Union
street from North Court street
to North Broadway; in North Court
street from Union street north 10 cor
poration line, and in North broadway
street from Broadway to Spring Grove
avenue, in East North street from
broadway to Harmony street, in East
street from Friendship street north TO
main sewer, in Harmony. street from
Friendship north to main sewer, IN
Friendship to East street; in Smith
road from Elmwood avenue west to
Baxter street in South prospect street
south from Smith road to Harrisville
road, and in South Huntington street
from West washington street south TO
Smith road.
SECTION 2. That the bonds Of said
village be isued in the sum Of eight
| thousand dollars for the purposes
aforesaid, said bonds shall be sixteen
/ in number and of the denomination
| Of $500.O0 each, and shall be known
as water mains extension bonds and
| shall be numbered from one to six
interest at the rate of 5 IL per cent.
per annum payable semi-annually,
| evidenced by coupons attached thereto,
and shall be dated August 1st, A. y.
1915, and shall be payable as follows:
One bond for $5OO.OO payable on the
| 1st day of August, 1917
One bond for $500 payable on the 1st
| Qdy Ol AuSu 1O4cs .
One bond for $4,000 payable on the
1st day of August. 1918.
| One bond for $500.00 payable on the
| 1st day of August, 1920.
One bond for $50O.00 payable on the
4 1st day of August, 1921
One bond for $4,000 payable on the
| 1st day Of August, 1922.
One bond for $4,000 payable on the
| 1st day of August, 1923. a4H
One bond for $500.00 payable on the
list day of. August, 1924.
One bond for $4,000 payable ON the
| 1st day of August, 1925.
One bond for $50000 payable on the
| 1st day Of August, 1925.
One bond for $4,000 payable on the
| 1st day Of August, 1927.
One bond for $5OO.O0 payable on the
1st day of August, 1928.
| One bond for $5O0.O0 payable on the
| 1st day Of August, 1929.
One bond for $4,000 payable on the
1st day of August. 1880.
/ One bond for $5OO.OO payable on the
| 1st day of August 1881. 49,
One bond fer $500.00 payable on the
| lst day of August 1882.
Said bonds shall be payable at the
| office Of the clerk of said Village OF
Medina, Ohio. Fi
| SECTION 3. Said bonds shall ex-
| press upon their face the purpose Tor
which they were issued. and that they
are issued in pursuance OF this ordi.<
nance. They shall be prepared, issued
and delivered 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 the village clerk, and sealed with
! the corporate seal Of said villages ana
! shall be executed By the village clerk.
with his signature thereto. or he may
have his signature printed or litho-
graphed thereon.
SECTION 4. Said bonds shall be first
offered at par and accrued interest TO
the trustees of the sinking fund in their
official capacity, and If the trus-
| fees of the sinking fund refuse to take
any or all of them at par and accrued
interest, then said bonds not so taken;
shall be offered at par and accrued 1n-
| terest to the commissioners OF the
| sinking fund of the school board OF
said village school district, and such OF
| said bonds as are not taken by said
| officers shall be advertised for public
sale and sold in the manner provided
by law, but not for less than Nthe par
value thereof and accrued interest.
SECTION s. The proceeds from the
I sale of said bonds, except premium and,
accrued interest thereon, shall be
turned over to the Board of Public At
fairs Of said village. to be used and ex-
pended by them for the purposes set
forth lin this ordinance, and whatever
balance may remain after the compile
tion Of said work. shall be turned over
to the trustees OF the sinking fund OF
said village, to be applied upon the
payment of said bonds when the same
shall become due.
SECTION 6. That the ordinance
pa seed July 26th. 1915 providing for a
bond issue for extension of water
mains upon part of the streets here
| inaLove named, be and the same Is
hereby repealed.
SECTION Z. This ordinance shall
take effect and be in force from and
after the earliest period allowed by
law. vi
Passed August 3, 1915.
Attest l.. H. RANDALL,
GEO. L. McNEAL, Mayor
Clerk.