The Bluffton news. [volume] (Bluffton, Ohio) 1875-current, 1944-06-15
AN ORDINANCE

The vlLLAGES PORTION OF THE COST
AND EXPENSE OF IMPROVING STATE
HIGHWAY NO. %. IN THE VILLAGE
OF BLuFFToN. ALLEN COUNTY. OHIO.
BEGINNING AT THE INTERSECTION OF
THENCE NORTHEASTERLY OVER AND
ALONG THE ROUTE OF MAIN STREET.
STATE HIGHWAY NO %. TO THE
NoRTHEAsTERLY CORPORATION LINE
WITH THE DIRECTOR OF HIGHWAYS
] OF THE STATE OF OHIO.
| WHEREAS. the State of Ohio by the Di-
rector of Highways of said State. has deter
mined TO improve State Highway No % in
| the Village of Button, Allen County Ohio
beginning at the intersection of Bentley Road
| with Main Street, thence northeastery over
| and along the route of said Main street to
the northeasterly corporation line of said VIII
lage of Bmffton. pursuant to the provisions
| of General Code. Section 1lse, and related
| sections, and
| WHEREAS. the Village of Blufrton desires
| to cooperate with said Director of Highways
of the State of Ohio, and this council has
heretofore adopted the necessary legislation
for such cooperation, and has agreed by legis-
lation, duly adopted. to contribute and pay
toward the cost and expense of said improve
ment the lump sum of 100000 as the viii
lagos share of such cost of such Improvement.
all in accordance with the provisions of Sec.
1882. and related sections and
WHEREAS, the net Indebtedness of the
Village of Bluifton does not and will not.
after issuance of the bonds herein proposed
to be issuel, exceed one percent of the total
Iof all proetry in said Village of Blufton as
listed and assessed for taxation. and this
council has authority to issue the bonds herein
proposed to be issued without a vote of the
BE IT ORDAINED BY THE VILLAGE
COUNCIL OF THE VILLAGE OF BLUFF
IRON, ALLEN COUNTY. OHIO. THREE
FOURTHS OF ALL THE MEMBERS ELECT
SECTION l. That it is deemed necessary
to issue the bonds of the Village of Button
Allen County, Ohio, in the principal sum OF
s5000.0 90 in order 10 provide a fund for the
purpose of paying the villages portion of the
cost and expense of improvement of State
Highway No. % in the Village of Bluffton
beginning at the intersection of Bentley Road
with Main Street in the Village of Bluffton
Allen County, Ohio, thence northeasterly over
and along the route of Main Street in said
Village. State Highway No %. to the north
easterly corporation line of said village, in
| cooperation with the Director of Highways oi
the State of Ohio, provided by Sections 11S9
| 1892 and related sections of the Genera
| Code of Ohio. Anticipatory notes shall mo-
be issued in anticipation of the issuance o.
| such bonds.
SECTION 2. That bonds of the Village
| of Bluffton Allen County, Ohio. shall be Is
i sued in the principal sum of s5000.n0 for tht
purpose aforesaid Each of said bonds shall
| be in the denomination of $4,000. and sait
bonds shall be dated June l. 1944. and shal
bear interest at the rate of per cent pei
| annum, payable semi-annualiy on the ist day
| of June and December of each year until tn,
principal is paid The first interest pay
ment to be June /, 1s45 Provided. however
that if said bonds sold bearing dfferen
rate of interest than hereinbefore specified
such bonds shall bear such rate of fnteres
| as may be provided for in the resolution o
council approving the awarding thereof y
the purchaser of said bonds. Said bonds shal
mature as follows: One bond on December
l1945 and thereafter one bond Decembe
ST. in each of the years from 1916 to 1854
both inclusive. The principal and interest Q
all said bonds shall be payable at the offic
| of the Citizens National Bank in the said Vii
lage of Button, Ohio.
SECTION 8. Said bonds shall express upo
their face the purpose for which they are Is
sued that they are issued in pursuance Q
this ordinance and shall be signed by tn
Mayor and Clerk. and sealed with the cor
porate seal of said village The interest cou
pons attached to said bonds shall bear tn
facimile signature of the City Clerk. Sal
bonds shall be numbered consecutivey fror
| 1 to TO- inclusive.
SECTION 4. For the purpose of providin
the necessary funds to pay the interest tn
foregoing issue of bonds promptly when an
| as the same falls due. and also to provide
| fund sufficient to discharge and pay said seris
bonds at maturity, there shall be and is here
| by levied on all the taxable property in sal
Village of Bluffton, Allen County, Ohio. !
| addition to all other taxes direct tax amt
ally during the period said bonds are
| run. in amount sufficient to provide fund
to pay interest upon said bonds as and whe
| the same falls due. and also to provide
fund for the payment of the principal of sal
serial bonds at maturity. which tax shall nc
be less than that required by law.
Said tax shall be and is hereby ordered con
puted. certified, levied and, extended upon tt
tax duplicate and collected by the same off
GERS. in the same manner: and at the sam
time that taxes for general purposes for eac
of said years certified, extended and CO
lected. Said tax shall be placed before an
in preference to all other items and for tt
full amount thereof. The funds derived froI
said tax levies hereby required shall be place
in separate and distinct fund. which Il
gether with all interest collected on the san
Of the interest and principal of said bono
when and the same falls due.
SECTION 5. Said bonds shall be first Q
fered at par and accrued interest to the OIL
sinking fund of said Village of BluHton, ar
if said officers refuse to take any or all
said bonds then said bonds not so taken ms
be offered in writing at not less than par ar
accrued interest to any one or more OF q
boards and commissions described in Sectit
2293-29b. General Code of Ohio, and If sa
| boards or commissions refuse to take any
all of said bonds then said bonds not ia
| en- shall be offered for sale at public sale
the manner provided by law, but not for lie
than their par value and accrued interest; Il
bond sale advertisement shall state that al
one desiring to do so may present bid
bids for such bonds. based upon their bearii
. different rate of interest than hereinbefo
fixed. provided. however, that where fra
tionai interest rate Is bid, such fraction sh'
be one quarter of one per cent. or mul
pie thereof each bid must be accompani
by certified check of the bidder for not lie
than one per cent of the amount of bonds
be sold; the proceeds from the sale of sa
bonds except the premium and accrued
terest thereon. shall be used for the purpo
aforesaid. and for other purpose;
premium and accrued interest received frc
such sale shall be transferred to the bo
retirement fund to be applied in the PAYNE
of the principal and interest of said bonds
the manner provided by law.
SECTION 6. The Village Clerk is here
directed to forward a certified copy of z
ordinance to the County Auditor OF All
County. Ohio.
SECTION z. This ordinance shall take
feet and be in full force and effect from a
| after the earliest period allowed by law.
w A HOWE,
President of Council
Passed June 5. l944.
Attest: w. o. GEIGER.
Clerk of Council.