The Medina sentinel. [volume] (Medina, Ohio) 1888-1961, 1917-06-08

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/ one bond on the flrst day Of April and
October OF each year thereafter, until
said bonds are fully paid, together with
interest thereon at the rate of five per
cent. (6En) per annum, payable semi
! annually on the first day Of April and
October Of each year. evidenced by
coupons attached thereto; both inter-
/ est and principal to be payable at the
office Of the Sinking Fund Trustees of
said village.
SECTION III. Said bonds shall ex-
press upon their face the purpose for
which they are issued and that they
are issued In pursuance of this ordi-
and delivered under the direction OF
the Finance Committee of Council and
the Village Clerk. and shall be signed
by the Mayor and Village Clerk and
sealed with the corporate seal of said
Village; and the interest coupons at
by the Village Clerk with his signature
thereto. or he shall have his signature
printed or Autographed thereon.
SECTION Nv. Said bonds shall be
first offered at par and accrued inter-
est to the Trustees Of the Sinking
Fund Of said Village in their official
capacity. and Il SAID Sinking Fund
Trustees refuse to take any or all Of
said bonds at par and interest. then
said bonds not so taken shall be offered
at par and accrued interest to the
Board OF Commissioners of the Sink
ing Fund OF the Village School Dis
trict, and IL said latter Board refuses
to take any Or all Of said bonds. then
said bonds not SO taken shall be Offer
ed IN manner and form as provided by
law to the Industrial Commission Of
the State OF Ohio, and IL not purchased
by any Of the said Boards, such Of said
bonds as are not taken shall be adver-
tised for public sale and sold in the
manner provided by law, but not for
less than their par value and accrued
interest.
SECTION ". 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 shall
be disbursed upon proper vouchers for
the purpose Of paying the portion of
the costs and expenses of said named
street improvements not provided for
BY special assessment, and for no other
purpose; and the premiums and accrued
be transferred to the Trustees Of the
Sinking Fund to be applied by them in
the manner provided by law.
SECTION vi. That to provide a
Sinking Fund for the final redemption
at maturity Of the bonds herein auth
orized, and to pay the interest on same
as it becomes due. there shall be and
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-
ficient to pay the interest ON said bonds
as 1t accrues and to provide q sinking
fund for the final redemption Of said
bonds at maturity Said tax shall be
and is hereby ordered levied, certified
and extended upon the tax rolls and
collected 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
collected 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 IAN Ordinance to Issue Bonds
the Costs and Expenses Of Improving
Sundry Streets in the Village of Me-
dina, to-wit:-Prospeot 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 Liberty street to the north
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 allto be done by grad
ing, draining, paving and curbing,"
passed April ~, 1917 be and the same
is hereby repealed.
SECTION VIII. That this ordinance
shall take effect. and be in force from
and after the earliest period allowed
by law.
Passed June 5, 1917.
L. Fl. RANDALL, Mayor.
Attest: o. o. VANDEUSEN, Clerk
A. r Underwood Atty 41-2