Morgan County Democrat. (McConnelsville, Ohio) 1886-1943, 1939-04-13

ORDAINED, and hereby determined
that notes shall be issued in anticipa
tion of the issuance of said bonds in
the amount of Fifteen Thousand Dol
lars (S15O0O 00) said amount not ex-
ceeding the amount of said bonds, and
for the purpose aforesaid, under and
by virtue of the authority of General
Code 2293-25.
day Of March, 1889. and shall be in
the domination of Five Thousand Dol
lars $4,000 Oo) and Ten Thousand
bered One Cd and Two Cd.
Said notes shall bear interest at
the rate of "a percent per centum per
annum until paid and the interest on
said notes shall be payable at ma
turity, and until the principal sum of
said notes is paid and as evidenced by
interest coupons attached thereto.
Said notes shall not be issued for
longer period of time than two years
from date thereof and shall be pay
able at the office of the Treasurer Of
the Village of McConnelsville, Ohio,
upon presentation and surrender OF
said notes and interest coupons as
they respectively mature. Said notes
shall be redeemable at any interest pc
riod.
Said notes shall be due and payable
as follows:
Number Date Amount
June 1, 1889 100000
Said notes shall specify on their
issued, and that they are issued in
pursuance of this ordinance and under
authority of the General Laws of the
State Of Ohio. particularly G. c. 2?93-
25, and shall be full general obliga-
tion of said Village of McConnelsville,
and for the full amount thereof, and
the full faith, credit and revenue of
said Village are hereby pledged for
tn payment of the principal and inter-
thereof at maturity.
Said notes shall be signed by the
Mayor and the Village Clerk and be it
further
ORDAINED, That said anticipatory
notes shall be paid from moneys re-
naming from the proceeds of sale OF
said notes and from the proceeds from
ued. and the said proceeds are hereby
pledged for the payment in full OF
said notes; and be it further
ORDAINED. That there, shall be
able property in the village of McCon-
nelsville, Morgan County, Ohio, in ad-
dition to all other taxes direct tax
annually during the years while such
itation not less than that which
would have been levied If bonds had
been issued without the prior issue of
such notes.
ordered 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 levied.
extended and collected. Said tax shall |
be placed before and in preference to
all other items and for the full
amount thereof The funds derived
from said tax levies hereby required
shall be placed in a separate and dis
tinct fund, which, together with all
interest collected on the same, shall
Ii h.
ment of the interest and principal of
said notes when and as the same fall
due.
1t is hereby determined that all |
acts, conditions and things necessary
to be done precedent to and in the is
suance of said notes in order to make
the same legal, valid and binding obli- |
cations Of said Village have been
formed in regular and due form as
required by law and that the tax for
the payment of the principal and in
terest as the same falls due and isl
tions of taxation of said Village. and
that the amount of these notes does
not exceed any limitation of indebted |
ness as fixed by law.
The Village Clerk is hereby au-
and directed to offer the same
for sale at private sale, and be it |
further
ORDAINED. that an Ordinance en-
Of Bond Issue and Determining Wheth-
er Notes Shall Be Issued in Anticipa-
tion of the Issue of Bonds After An
Issue of Bonds Has Been Approved ByI
Vote of People" and hereby repealed,
and be it further
ORDAINED, that an emergency af-
fecting the health. welfare, and safety
Of the people of said Village is here
by declared to exist the reason for
said emergency being that funds are
necessary to construct sanitary sew
ers and to repair and improve streets,
and this Ordinance shall be in force
Immediately upon it's adoption
Adopted this 29th day of March.
1889.
Attest: Alice Moody,
Clerk Of Council. 6a2l