The Medina sentinel. [volume] (Medina, Ohio) 1888-1961, 1921-07-28
The Village feaeryes The right d re-
ject any and all bids. &
w. +. lAINsWoRTH. village clerk
June 29th. 1921.
june 80. July 7-14-21-28
An goRntTIN,ANcE !

thtsO W. ~ 0t| - E-A--1Q
AN 0RDINANoE
AN ORDINANCE to issue bonds for
the purpose Of paying the portion OF
the cost and expense assumed by the
Village of Medina, Ohio. for the inn
provement OF South Court Street from
the South Corporation line on the west
side of said Street and running thence
north to the South Corporation line on
the east side Of said street, by the
State Highway Commissioner under au-
thority heretofore granted for said
purpose. ssssG
whereas, the State Highway Com
missioner is considering the matter Of
the Improvement under his supervise
whereas, South Court Street. within
this Village lies in whole or in part
along the line of said inter- County
Highway, said Street being more par
tioularly described as follows: Begin
the west side Of the Cleveland wooster
Pike which Is also South Court Street
in said Village and running thence
north along said street to the present
brick pavement which Is also the south
corporation line on the east side Of.
said street, being in all, q distance of
1885 feet and whereas. copy of the
plans, specifications, profiles and esti-
mates or said Improvement have been
duly filed with the Village Council and
duly approved and whereas, the said
Village Council for and on behalf OF
the Village Of Medina, Ohio, have as
sumed and agreed to pay q portion of
the cost and expense of said improve
ment estimated at $1066.52, Now. there
fore,
Be it ordained by the Council Of the
ills ge of Medina, Ohio. (three-fourths
OF all members elected or appointed
thereto c,nc irrins
SEC. THAT it is deemed necessary
by the Council Of the Village Of Me-
dina, State Of Ohio, to issue and sell
the bonds of said Village in the SUM of
$1066.52. for the purpose Of paying that
ed and agreed to be paid by the Viii
lage of Medina, Ohio, for the Improve
ment of South Court Street from the
South Corporation line on the west
side of said Street and running thence
north to the South Corporation line
Improvement to be made by the State
Highway Commissioner I'M accordance
with the consent and agreement Of the
Village Council as heretofore granted
SEC. II--That the bonds of said viii
lage shall be issued in said sum and
to be dated July 1st 1921 and shall be
two 10 in number the first Of which
shall be for the sum Of $50000 and
made due, and payable April 1st, 1923
and the second OF which shall be for
the sum of $566.52 and shall be due and
payable April 1st, 1924 and said bonds
shall each bear interest at the rate Of
six per cent (6 per cent) per annum,
payable semi-annually on the first day
of April and October Of each year, evil
denced by coupons attached thereto:
both interest and principal to be pay
II Ia - I7~A NHGt - - IL.
Trustees Of said Village.
SEC. III-Said bonds shah express
upon their face the purpose for which
they are issued and that they are ia
sued in pursuance OF this ordinance;
they shall be prepared issued and de-
ance Committee Of Council and the
Village Clerk. and shall, be signed by
the Mayor and Village Clerk and seal
ed with the corporate seal Of said VII
lage; and the interest coupons attached
to said bonds shall be executed by the,
Village Clerk with his signature there
to, or he shalt have his signature print
ed or lithographed thereon.
SEC. IV-Said bonds shall be first
offered at par and accrued interest to
the Trustees OF the Sinking Fund of
said Village i'm their official capacity.
fuse to take any or, all Of said bonds
at par and interest. then said bonds
not iso taken shall be offered at par
and accrued interest, to the Board Of
Commissioners OF the Sinking Fund Of
the Village School District, and II said
latter Board refuses to take any or all
Of said bonds then said bonds not so
taken shall be offered in manner and
form as provided by law to the Indus
trial Commission Of the State of Ohio,
and II not purchased by any OF said
Boards, such of said bonds as are not
20 oh nH Ho 60
sale and sold in the manner provid
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-
Of the Villages Portion Of said South
Court Street Improvement and shall be
disbursed upon proper vouchers for the
purpose of/paying the portion of the
costs and expenses of said named street
improvements as assumed and to be
paid by said Village and for no other
purpose; and the premiums and accrued
interest received from such sale shall
be transferred to the Trustees OF the
Sinking Fund to be applied by them in
the manner provided by law.
SEC. VI-That to provide Sinking
.turity Of the bonds herein authorized,
and to pay the interest on same as 1t
becomes due. there shall be and there
is hereby ordered levied upon all the
taxable property Of said Village In ad-
dition to all other taxes, direct tax
annually during the years 1921 to 1924
both inclusivessfn an amount sufficient
to pay the interest on said bonds as 1t
accrues and to provide sinking fund
for the final redemption OF said bonds
at maturity. Said tax shall be and is
hereby ordered levied, certified and ex-
tended upon the tax rolls and collected
by the same officers in the same man
ner and at the same time as the taxes
for general purposes in each OF said
years are certified, extended and coll
lected, and all funds derived from said
tax shall be placed in said sinking fund
which, together with all interest col
lected on the same, shall be irrevocably
pledged to the payment of the interest
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.
Mayor
Attest:
w. p. Ainsworth
% Clerk