Morgan County Democrat. (McConnelsville, Ohio) 1886-1943, 1929-11-21

maturities are hereby determined to
be in substantially equal annual in
StallmentS.
For the payment of said bonds and
the interest coupons thereto attached
the full faith, credit and revenue of
the Village of McConnelsville. Nor
ocably pledged and for the purpose
of providing the necessary funds to
pay the interest on the foregoing is
sue of bonds, promptly when and as
the same falls due, and also to pro-
vide fund sufficient to discharge the
said serial bonds at maturity there
shall be and is hereby levied on all
t9e IN ,a%anre mc9hnn proPerty in the Village
Ohio, in addition to all other taxes a
direct tax annually during the period
said bonds are to run in an amount
sufficient to provide funds to pay in
terest upon said bonds and when
the same falls due and also to provide
a fund for the discharge of the prin-
cipal of said serial bonds at maturity,
which tax shall not be less than the
interest and sinking fund tax requir-
ed by Section IL of Article XII of the
Constitution
Said tax shall be. and is hereby or
dered computed. certified levied and
extended upon the tax duplicate and
collected by the same officers, in the
same manner and at the same time
that taxes for general purposes for
each of said years are certified. lev
led. extended and collected. Said tax
shall be placed before and in prefer
ence to all other items and for the
full amount thereof. The funds de-
rived from said tax levies hereby re-
quired shall be placed in separate
with all interest collected on the
same, shall be irrevocably pledged
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
for the payment of the principal and
interest as the same fall due and are
tions 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
refused, then she is directed to offer
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 any
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 a 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 CONGREGATIONS
and it shall go into immediate ef-
feet.
Passed 8th day OF November, 1929.
F.. ID. SHAFER, Mayor
Attest: Stella Durbin, Clerk 21n2