The Medina sentinel. [volume] (Medina, Ohio) 1888-1961, 1917-06-15
AN ORDINANCE

of East Liberty street 70 the nortn lne
Sro,d%st East sSss NSTth front srest tie soStf sSa
~ line Of East Washington street
h to the north line Of the Smith Road
!. North Court street from the north line
: of Liberty street to the north line OF
G Union street; and Smith Road from the
east line Of East street to the inter-
section of said Smith Road with the
, east rail of the Northern Ohio Rail-
= road tracks, all to be done by grading
J. draining, paving and curbing."
BE TT ORDAINED
By the Council of the Village of
Medina, State Of Ohio. all members
elected thereto concurring:
SECTION I. That It is deemed nee.
essary by the Council Of the Village OF
D the bonds Of the.said village in the
sum of twenty six Thousand, Three
Hundred and Seventy-eight Dollars
$26, 6,37S0O) for the purpose Of paying a
certain portion Of the costs and ex.
penses, viz: That portion Of the cost and
sessment, for the Improvement of Pros
pect street from the north line Of West
Washington street to the south line OF
west Liberty street; North Broadway
street from the north line Of East LIB.
S6rfS trsst .tTse to the south Ssth prondwsg nd
street from the south line Of East
washington street to the north line Of
Smith Road; North Court street from
the stts.t north Il The line north line Liberty ef
non east 1ns sft Of East o street to the intsrsec
tion of said Smith Road with the east
rail of the Northern Ohio Railroad
tracks, all to be done by grading, drain
ing. paving and curbing.
SECTION II. That the bonds Of said
village be issued in the sum Of Twenty
six Thousand Three Hundred usIs and
the aforesaid purpose: each Of said
bonds to be In the denomination Of
| 81, $4,000 except the last, which shall
he IN the denomination ~ s72S.00 and
| TO he numbered consecutively from one
said bonds shall bear date Of May. !.
1917 and shall become, due and PAYABLE
a. follows to-wit: one bond ADril 1st.
1918 and nne hond October !. 1913. and
one bond on the first dav OF April ann
October of each wear thereafter. until
said bonds are fully paid. together with
interest thereon at the rate o. five per
cent f5cS) per annurn. PAYABLE semi
annually on the first day Of April and
October of each wear. evidenced bvI
commons attached thereto: both inter
est and nrincipal to he pavahle at the
hf1ce Of the Sinking Fund Trustees OF
said villaee.
SECTION Trr. said bonds shan ex-
mess unon their face the purpose for
which thev are issued. and that they
are issued In pursuance or this Ordf- /
nance: thew shall he rrepared. issued /
and delivered under the direction of
the rinance Committee Of Council and
hv the Mavor and Village Clerk and
scaled with the corpOrate seal Of said
Village: and the interest coupons at.
tached tn said honds shall he executed
nv the Village Clerk with his signature
thereto. OF he shall have his signature
pr'rted or Autographed thereon.
SECTION ". Said bonds shall be
Arst offered at par and accrued inter-
est 70 the Trustees Of the Sinking
Fund Of said Village in their of1cial
canacitv. and n said Sinking Fund
Trustees refuse to take anv or all Of
SAID hords at par and interest, then
said bonds not so taken. shall he offered
at mar and accrued interest tn the
Roard Of Commissioners OF the Sink
ino Fund of the Village School Dis
trict and II said latter Board refuses
TO take any or all Of said bonds then
seid bonds not SO taken shall he OFFER
cd in manner and form as nrovided hy
law TO the Industrial Commission Of
.he State Of Ohio and ~ not purrh ased
hy anv of the said Roards. such OF sa'd
bonds as are not taken shall he adver-
tised for public sale and sold IN the
manner provided by law. but not for
less than their par value and accrued
SECTION v. The proceeds from the
sale of said bonds except the premiums
and accrued interest thereon, shall be
placed in the Village Treasury to the
credit Of the Villages portion Of said
Street Improvement Funds. and shaIl
"a fch i
the purpose Of paying the portion Of
the costs and expenses Of said named
street improvements not provided for
bv special assessment. and for no otherJ
nurpose; and the premiums and accrued
he transferred to the TRUSTEES Of the
Sinking Fund to he applied by them in
the manner provided by law.
SECTION VI. That to provide ii
Sinking Fund for the final redemptio
at maturity Of the bonds herein auth
orized: and to pay the interest on same
there is hereby ordered levied upon ali
the taxable property OF said Village, in
addition to all other taxes, direct
tax annually during the years 1917 to
1927 both inclusive, in an amount suf-
hcient to pay the interest on said bonds
fund for the dnal redemption OF said
bonds at maturity Said tax shall be
and is hereby ordered levied, certified
and extended upon the tax rolls and
by the same officers in the
same manner and at the same time as
the taxes for general purposes IN each |
Of said years are certified, extended and
collected, and all funds derived from
said tax shall be placed In said sinking
fund. which. together with all interest
on the same, shall be irre-
vocably pledged to the payment Of the
Interest and principal Of said bonds,
when and as, the same shall fall due
SECTION VII. That an ordinance
entitled "An Ordinance to issue Bonds
for the Purpose OF Paying a Part Of
the Costs and Expenses OF Improving
Sundry Streets in the Village Of Me-
dina. to-wit.--Prospect street from the
north line Of West Washington street
to the south line Of West Liberty street
North Broadway street from the north
line OF Fast Liberty street TO the north
line Of East North street; South Broad
way street from the south line OF
East washington street to the north
line of the Smith Road; and Smith
Road from the east line OF East street
to the intersection of said Smith Road
with the east rail OF the Northern Ohio /,
Railroad Tracks. all to be done bv grad
ing, draining, paving and curbinrU!
PASSED April ~, 1917, be and the same
Is hereby repealed -f
SECTION VIII. That this ordinance
shall take effect and be in force from
and after the earliest period allowed
Passed June s, 1917
III " ~ " u 1SiH AYr 49,.