The Medina sentinel. [volume] (Medina, Ohio) 1888-1961, 1921-07-21

Bond 70. 13-Oc, ecr !. 1922
| and shall bear interest at the rate of
six per cent per annum, payable semi
annually o nthe first day OF April and
oct her Of each year. evidenced by
coupons attached thereto; both inter
est and principal to be payable at the
offic" tf the Si::king Find Trustees of
said Village.
SEC. III--Said bonds shall express
upon their face the purpose for which
they are issued and that they are issu-
| ed in pursuance of this ordinance; they
shall be prepared. issued and delivered
under the direction of the Finance Com
mittee Of Council and the Village Clerk,
| and shall be signed by the Mayor and
Village Clerk and sesled with the cor
porate seal OF said Village; and the in
| terest coupons attached to said bonds
With his signature Il ereto, or he shall
| have his signature printed or litho-
graphed thef con.
SEC. Iv-Said bonds shall be first
| offered at par and accrued interest to
| the Trustees of the Sinking Fund of
said Village in their official capacity,
and If said Sinking Fund Trustees re-
| fuse to take any or all of said bonds at
par and intrest, then said bonds not so
taken shall be offered at par and ac-
crued interest to the Board of Com
missioners Of the, Sinking Fund of the
Village School District ,and II said lat
ter Board refuses to take any or all of
en- shall be offered in manner and form
as provided by law. to the Industrial
Commission of the State of Ohio, and
| if not purchased by any of said Boards,
such Of said bonds as are not taken
shall be advertised for public sale and
sold in the manner provided by law, but
not for less than their par value and
; accrued interest.
SEC. V-The proceeds from the sale
of said bonds, except the premiums and
accrued interest thereon, shall be plac-
! ed in the Village Treasury to the cred
it 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 heretofore
provided for by special assessments,
and for no other purpose; and the prem
iums and accrued interest received
the Trustees of the Sinking Fund to be
applied by them in the manner provided
by law.
SEC. VI-That to provide a Sinking
Fund for the final redemption at ma
turity of the bonds herein authorized,
and to pay the interest on same as 1t
becomes due, there shall be and there
taxable property of said Village in ad-
dition to all other taxes. a direct tax
annually during the years 1921 to 1929
both inclusive in an amount sufficient
to pay the interest on said bonds as
it accrues and to provide a 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 irrevoc-
ably pledged to the payment of the in
terest and principal Of said bonds, when
and as, the same shall fall due.
SEC. VII--This ordinance shall take
effect and be in force from and after
the earliest period allowed by law.
Passed. July 18th, 1921. a
H. H. HARTZOGG
Mayor
Attest: W. P. Ainsworth
Clerk
July 14th and 21st. q