Newark leader. ([Newark, Ohio]) 1917-1946, 1941-03-27


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 shall
express upon their face the pur-
pose for which they are issued;
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 shall bear
the facsimile signature of the CITY
Auditor.
Section 4. That for the purpose
of providing the necessary funds
to pay the interest on the fore
going issue of bonds, promptly
and also to provide a fund suffi-
cient to discharge the said serial
bonds at maturity, there shall be
and is hereby levied on all the
taxable property in said City of
Newark, in addition to all other
pledged delinquent taxes and
assessments do not take care of
the principal and interest pay
ments, direct tax annually dug
ing the period said bonds are 70
run in an amount sufficient to
provide funds to pay interest upon
said bonds as and when the same
falls due and also to provide a
fund for the discharge of the prin-
cipal of said serial bonds at ma
turity, which tax shall not be less
than the interest and sinking fund
tax required by Section II of Ar
ticle XII Of the Constitution.
SAID tax and pledged delinquent
taxes and assessments shall be
and are hereby ordered computed,
cert1fled, 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
or said years are certified, ex-
tended and collected. Said tag
assessments shall be placed before
and in preference to all other
items and for the full amount
thereof. The funds derived from =
said tax levies and collections of
delinquent taxes and assessments
separate and distinct funds, which
together with all interest collected
on the same, shall be irrevocably
pledged FOR the payment of the in
terest and principal of said bonds
Wnen and as the same fall due.
SECTION 5: That said bonds shall
be first offered at par and ac-
ccrued interest to the Trustees of
the Sinking Fund in their official
capacity, and if said Trustees re-
tuse ha 10 take any or all of said
en- shall be advertised for public
sale and sold in the manner pro-
Vlded by law under the directfH.fs
OF the Finance Committee and thdk
Audltor, but not for less than their
par value and accrued interest;
the bond sale advertisement shall
state that any one desiring to do
So may present a bid or bids for
such bonds based upon their bear
ing a different rate of interest
bnaIa 5nan hereinbefore fixed, provided,
interest rate is bid, such fraction
snail be one-quarter of one per
cehtum or multiple thereof: the
amount of the bond or certified
check to accompany bids shall be
One I1aoo a aundred ($100) Dollars; the
bonds, except the premium and aA
crued interest thereon shall be
9seo Tor the purpose aforesaid and
Tor no other purpose; the premium
ana accrued interest received from
such sale shall be transferred to
the Sinking Fund to be applied in
the payment of the principal and
interest of said bonds in the man
ner provided by law.
Section 6. The City Auditor is
tniefIie3y directed to forward GER
ti1led copy Of this ordinance to the
county Auditor.
Section 2. This ordinance is
hereby declared to be an emeres
ency ey for the immediate preserva-
d sion OF the public peace. health,
ana safety. The reason for such
necessity lies in the fact that no
longer are FUNDS sufficient to pro-
vide those in need of the City of
newark, Ohio. with relief for the
ordinance shall take effect and he
In force from and after its pass
the Mayor. ~
Passed March II, 1941.
CLINT e. CONFER.
. president of Council.
Attest-F. A. McELROY. --<s
Clerk of Council.
approved by the Mayor this 18th
day of March, 1871. -0'n
GLENN WRIGHT.
Date filed with the Mayor. Msrch