Fulton County tribune. (Wauseon, Ohio) 1883-1925, 1915-11-05
AN ORDINANCE

Providing for the issuance of bonds of the
village of Lyons Ohio to raise means IN
anticipation of special assessments to pay
for improving Morenci street and Adrian
street in said village.
Be it ordained by the village of Lyo-s.
State of Ohio:
Section l. That. for the purpose of r.is-
ing means in anticipation of special ass<ss-
ssents heretofore levied on benefited prope.ty
to pay portion of the cost Of inproVin1.
sslresis hereinafter described, there shall ae
iesied two series of bonds. of said Village OF
Lyons, follows:
For the improvement of that portion of Nor
enci street extending from the. West Cor.zsr-
alton line to the East Corporation line of ID
village, a series of bonds in the amount Of
s13, ,6s2.70 consisting of ten bonds of Slu90
each and ten bonds of S36927 each. number
ed from No to No. 20, to become das as
follows: One bond of 81. 900 and one bonG of
s96927 on April 1st of each of the s~ars
1917 20 1926 inclusive:-
For the Improvement of that portion OF
Adrian street extending from the North Cor
soration line to the South Corporation line
Of SAID Village a series of bonds in tie
amount of SS77430y consisting of ten bonds
of $500 each and ten bonds of SS77.4S each,
numbered from No. l to No 20, to become d1e
as follows: One bond of $500 and one bond
of $37T.43 April lst OF each OF the years
1917 to 1926 inclusive.
All of said bonds shall bear date of octa-
ber 1, 1915, shall bear interest at the rae
of five per cent. per annum payable semi-an-
| nuaily on April 1st and October 1st of each
year, after the date thereof, until the priaci-
pal sum shall be paid, upon presentation and
| surrender of the proper interest coupons
| thereto attached that both principal and in
terest shall be payable, as the same shall be
| a.
/ Section 2 That said bonds shall contain all
provisions and recitals required by the laws
Of Ohio and the further recital as follows: Ihe
| all acts conditions and things required to be
| done and to exist precedent to anu n the Is
suing of this bond, have been properly done
and performed, and do exist IN regular and
due form, time and manner as required by
| the Constitution and Laws of the State OF
Ohio and that the total Indebtedness OF said
| Village including this series of bonds, does
not exceed any constitutional ror statutory
| limitation.
Section g. That the Mayor and Clerk be
and hereby authorized to execute said
bonds and that when SO executed, they shall
! be offered to the officers of said Village hav-
| ing charge of the sinking fund thereof. and
| if not taken by said officers for said sinking
| fund.- shall be offered to the State Liability
Board of Awards, and if not taken by said
Board, shall be advertised and sold accord
!! ing to law.
/! Section 4. That the special assessments
heretofore levied against the property bene-
j fited by said improvement, respectively as the
same shall be collected, shall constitute a
sinking fund for the payment of said bonds
/ and interest thereon, and that for the pay
by special assessment there shall be annually
ment of any amount thereof not provided for
levied an advalorem tax upon all of the tax
| able property in said Village during each of
the years said bonds any of them shall be
outstanding that will produce suffi-
| cient to fully provide for the payment of said
bonds and interest. and the proper officers
| of said Village are hereby directed and the
proper officers of said Village are hereby
directed to certify any such tax so levied to
the Auditor of Fulton County, Ohio, for eel-
! lection in each of such years as other. taxss $
of said Village are certified and collected
/ Section s. That this ordinance shall take
effect and be in force from and after its pass
age, approval and publication as provided by
law.
| Passed October 20, 1915.
DAVIS BROWN, Mayor.
Attest: FLOYD CARPENTER, Village Clerk
29-4