Newark leader. ([Newark, Ohio]) 1917-1946, 1940-11-28

The principal and interest of all
of said bonds shall be payable at
the office of the Treasurer of the
City of Newark, at Newark, Ohio.
Section 3. That said bonds sf@ll
express upon their face the pur-
pose for which they are issued
that they are issued in pursuance
of this ordinance, and shall be
signed by the Mayor and Auditor,
and sealed with the corporate seal
of said city. The interest coupons
attached to said bonds shaRSpea
the facsimile signature of the City
Auditor.
Section 4. That for the purpose
of providing the necessary .fundf
to pay the interest on the f0p Agot'
ing issue of bonds, promptly when.
and as the same falls due and also
to provide fund sufficient to dis
charge the said serial bonds at
mnaturity, there shall be and is
property in said City of Newark,
IN addition to all other taxes, only
to the extent that the pledged de-
llnquent taxes and assessments do
not take care of the principal and
interest payments, direct tax an
bonds are to run in an amount
sufficient to provide funds to pay
interest upon said bonds as and
when the same falls due and aIsa
to provide a fund for the discharge
of the principal of said serial
not be less than the interest and
sinking fund tax required by Sec
stitution.
Said tax and pledged delinquent
taxes and assessments shall be
and are hereby ordered, Computed
certlIled, levied and extended up-
on the tax duplicate and collected
by the same officers, in the same
manner and at the same time that
taxes Tor general purposes for
each OF said years are certified,
extended and collected. SaA ytax
and pledged delinquent taxeN and
assessments shall be placed before
and in preference to all other
Items and for. the full amount
thefeot. The funds derived from
said tax levies and collections Of
delinquent taxes and assessments,
hereby required shall be placed 10
separate and distinct funds, which
t9gether with all interest collect
eblv al on nIadsed tne SANE, fe, shall be irrevoc
the interest and principal of said
due.
Section 5. That said bondssshaIl
Pc IIrst offered at par and accrued
interest to the Trustees of the
Sinking Fund in their official ca
pacIty. and if said Trustees refuse
70 take any or all of said bunds-
then said bonds not so taken shall
pc advertised for public sale and
nnSa npnd IN tne manner provided by law
GGIeoer the direction of the Finance
Commlttee and the Auditor. but
not Tor less than their par vaIne
ana accrued interest; the bond.
sale advertisement shall state that
nrsseot S one desiirlng i to do SO. may
bonds based upon their bearing =
a aaiIterent rate of interest 1ran
herelnbefore fixed, provided. Nv
ever, that where a fractionaI in.
s6aiS s6I9st rate Is bid, such fraction
centum or multiple thereof nthe
amount of the bond or Certified
Gheck to accompany bids shaII he
Two Hundred ($200.OO) F-Glars:
the proceeds from the sale Nc said
' ooiius' except the premium and ac-
crued interest thereone shall be
used for the purpose aforesaid and
dor no other purpose; the premium
ana accrued interest received frorsl1
such sale shall be transferred t9
the the SINKING SINKING Fund to be applied in
interest of said bonds in the maui anu
SECTION 6. The laCCi Citv And;tor !.
1n.eerie6y directed to forward a cers
Ganntc GSduu copy or this ordinance to the
; Section z. This ordinance is
9enety hereby declared to be an emers~
fSioy fSiemcy for the immediate preservh1
and safety. The reason for such
hhfeceesiaity hfcei1ny cd,a lies in the fact that
has funds sufficient to % p%rovids %
those in need of the City Of New
ark, Ohio. with relief for the bal
ordinance. shall take effect and be
IN force from and after it passaes
&ayof' NJ oeunoli and approval tvshs
Passed November 4, 1910.
CLINT e. Conner
49,. PRESIDENT of Council.
Attest-F. A. McELROY.
Clerk of Council
da ApprroVed a Wa by the Mayor this a
GLENN WRIGHT,
Date iE.S fiIsa with the Mayorss MssSe; Nov.