Newark leader. ([Newark, Ohio]) 1917-1946, 1940-01-25
ORDINANCE No. b1aa

BY ELLIS, NEIGHBOR, STARE:
Declaring the necessity of and pro-
viding for the issuing of the
bonds of the City of Newark,
Ohio, in the sum of Fifteen
Thousand Dollars ($15, ,00O.0O) for
the purpose of providing fund
for the acquisition of interests
in real estate upon which to build
levees to meet requirements or
the War Department for the pro-
posed flood prevention project in
the City of Newark, Ohio, the ac-
QUESTION of fee simple titles,
easements and uses for the build
ing Of leVeeS and to defray all
costs, expenses and attorney fees
necessary and incidental thereto,
- and determining to issue a note
u or notes in anticipation of said
Y bonds.
Whereas, the War Department of
the United States of America, in
pursuance to the Flood Control Act
Of Congress of 1886, approved June
%, 1886, (49 stat. 157D, known as
the Flood Control Act of 1885, and
all acts amendatory thereof and
supplementary thereto, has propos-
ed to construct a flood prevention
Improvement in the City OF New
ark, Ohio, which improvement Will
consist of work to be done by the
War Department upon and in the
banks and streams of the North
Fork and South Fork of the Lick
ing River, the Licking River and
Raccoon Creek, provided that the
City of Newark, Ohio, meets the
requirements of the War Depart
ment and furnishes the fee simple
titles, easements or uses of real es-
Mate for the building of certain
&geyees, and
Whereas, This Council has adopt
ed Resolution No. 2758 entitled ITO
Meet and Agree to the. Require
TlnY 11sfy1 ont
the Proposed Flood Prevention
Work in the City of Newark, Ohio"
and
Whereas, it is necessary to pro.
vide a fund for the acquisition OF
interests in real estate upon which
to build levees to meet require
ments of the War Department Tor
the proposed flood prevention pro-
ject in the City of Newark, ohio,
the acquisition of fee simple titles,
easements and uses for the build
ing of levees and to defray all
costs. expenses and attorney fees
necessary and incidental thereto,
and
Whereas, this Council has re-
quested the City Auditor to. issue
his certificate as to the estimated
life of the improvement to pc con
structed from the proceeds or bonds
and notes to be issued as herein
after referred to, and said city
Auditor has certified to this Coun-
Gil such estimated life of said in
terests or easements in real estate
and said flood prevention work to
be at least thirty 900 years, and
has further certified the maximum
maturity of such bonds as thirty
900 years and of such anticipatory
notes as two CD years,
Now, be it ordained by the Coun-
ell of the City of Newark, State
of Ohio:
Section 1. That it is hereby de-
termined that it is necessary TO
issue and sell fifteen thousand dol
lars ($15, 100000 of the bonds of the
City of Newark, Ohio, for the pur-
pose of providing a fund for the
ACQUISITION of interests in real es-
tate upon which to build levees to
meet requirements of the War De-
partment for the proposed flood
prevention project in the CITY OF
Newark, Ohio, the acquisition OF
fee simple titles, easements ana
uses for the building of levees and
to defray all COSTS expense and at
torney fees necessary and incident
al thereto.
Section 2. Said bonds shall be
dated approximately the first day
of October, 1910, shall be in the de-
nomination Of one thousand dollars
(s1OO0.O0) each and shall bear in
terest not to exceed three per cent
(3%) per annum. SAID DonuS SnalI
mature as follows: