Morgan County Democrat. (McConnelsville, Ohio) 1886-1943, 1929-11-28

maturities are hereby determined 4n
Stallments "
:, For the payment of said bonds and
the interest coupons thereto attached
the Iu!i faith, credit and revenue of
the Village Of McConneIsvillc, Nor
ocapiy pledged and for the purpose
or providing the necessary funds to
pay the interest on the foregoing is
sue sue OF bonds, promptly when and as
vide a fund sufficient to discharge the
sad serial bonds at maturity. there
shail be and is hereby levied on ali
off of McGnnn TdHSone ProRerty in the Village
ONO, in addition to all other taxes q
dlrect tax annually during the period
sara bonds are to run in an amount
sufflclent to provide funds to nav in
terest upon said bonds as and when
the same falls due and also to provide
a fund for the discharge of the prin
clpai OF said serial bonds at maturity.
winch tax shall not be less than the
interest and sinking fund tax reouir
ed by Section IL of Article XII of the
Cons titution i 'iie
Said tax shall be. and is hereby or
dered computed, certified levied and
extended upon the tax duplicate ana
collected by the same officers in tbe
same manner and at the same time
t enat taxes for general purposes for
LED. extended and collected Said tax
snail be placed before and in prefer
ence to all other items and for tha
rived from said tax levies hereby re-
qulred shall be placed in a separate
and distinct fund, which, together
with all interest collected on the
for the payment of the interest and
principal of said bonds. when and as
the same fall due
), Said bonds shall be signed by the
interest coupons shall have the fac
simile signature of said Village Clerk
printed or Autographed thereon.
1T is hereby determined that all
TO be done precedent to and in the
issuance of said bonds, in order to
make the same legal. valid and bind
ing obligations of said Village have
performed in regular and due form
as required by law and that the tax
Tor the payment of the principal and
interest as the same fall due and are
tons of taxation of said Village, and
that the amount of this bond issue
does not exceed any limitation of in
debtedness as fixed by law
The Village Clerk is hereby author
lied and directed to offer this issue of
bonds first to the Trustees of the
sinking Fund of said Village; and if
PiO'idco ny law
and receive bids for the purchase
thereof. Said bonds shall not be sold
for less than par and accrued inter
est to the date of delivery.
When said bonds have been once
advertised and offered at public sale
as provided by law and they or anv
part thereof remain unsold for want
of bidders those unsold shall be sold
by the Village Clerk at private sale
at not less than their par value and
accrued interest thereon bearing the
rate of interest provided in this Reso-
luton.
These bonds shall be subject to
call or redemption prior to maturity
at not more than par.
The Village Clerk is hereby author
lied to keep record of the number.
amount and rate of each bond sold
the amount received for it, to whom
sold and the time when payable. This
resolution is declared to be an emer-
gency resolution and necessary to pro-
tect the property and persons Of said
Village from fires and conflagrations.
and 1t shall go into immediate eff
feet.
Passed Sth day of November, 1929.
f. p. SHAFER, Mayor
Attest: Stella Durbin, Clerk 21n2