The Medina sentinel. [volume] (Medina, Ohio) 1888-1961, 1915-08-06
AN ORDINANCE
sALE On BoNDs

An ordinance to issue and sell bonds
for the purpose of extending and con-
structing water mains In East Libsr.
ty street, East Friendship street
street from East Friendship street
to East North street North
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 or
North Broadway $50 feet south; also OF
Nortl Court street from Union stree
north to corporation line.
Be it ordained by the Council Of the
Village Of Medina, State Of Ohio, three.
fourths Of all members elected thereto
concurring:
SECTION /. That it is deemed ne
cessary, for the purpose of supplying
water in the following named streets
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 funds with
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 to cor
3jU feet south, in East Friendship
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
North Jefferson street, from East
Nri nd IN Enq N m
road from Blmwood 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 $500.00 each, and shall be known
as water mains extension bonds and
shall be numbered from one, to six
teen consecutively. They shall bear
interest at the rate of 1-2 per cent.
per annum, payable semi mi-annually,
evidenced by coupons attached thereto,
and shall be dated August 1st, A. d.
1915, and shall be payable as follows:
One bond for $4,000 payable on the
1st day of August 1917
One bond for $500 payable on the 1st
day of August, 1918.
One bond for $500.00 payable on the
1st day Of August, 1919.
One bond for $4,000 payable on the
1st day Of August, 1920
One bond for $4,000 payable on the
1st day of August. 1921
One bond for $4,000 payable on the
1st day of August, 1922.
One bond for $50000 payable on the
1st day of August, 1923.
One bond for $4,000 payable on the
LIST day Of August, 1924.
One bond for $4,000 payable on the
1st day of August, 1925.
One bond for $500.0O payable on the
1st day of August, 1926.
One bond for $4,000 payable on the
1st day of August 1927.
One bond for $500.00 payable on the
1st day of August, 1928.
One bond for $4,000 payable on the
1st day of August 1929.
One bond for $4,000 payable on the
1st day of August, 1890.
One bond for $500.00 payable on the
1st day Of August 1881.
One bond for $4,000 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.
SECTION 8. Said bonds shall ex-
press upon their face the purpose for
which they We're 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 village; and
4. 49,. -.<.44 n4A 1.s.A
shall be executed by the village clerk.
with his signature thereto, or he may
have his signature printed or litho-
graphed thereon.
SECTION A. 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-
tees Of the sinking fund refuse to take
any or all of them at par and accrued
then said bonds not so taken
shall be offered at par and accrued in
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 the par
value thereof and accrued interest.
SECTION s. The proceeds from the
SAFE VI Sdlu UOHuS, OACCpt "a CAuluAh dllU
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 in this ordinance, and whatever
balance may remain after the compile
lion of said work, shall be turned over
70 the trustees of the sinking fund, of
said village, to be applied upon the
,ayment Of said bonds when the same
shall become due.
SECTION s. That the ordinance
passed July 26th. 1915 providing for
,ond issue for extension of water
mains upon a part of the streets here
nabove named be and the same is
hereby repealed.
SECTION Z. This ordinance shall |
AXE effect and be in force from and
after the earliest period allowed by
aw.
Passed August 3, 1915.
Attest L. H. RANDALL,
GEO. L. McNEAL. Mayor