The Bluffton news. [volume] (Bluffton, Ohio) 1875-current, 1944-06-08

AN ORDINANCE PROVIDING FOR THE
ISSUANCE OF BONDS OF THE VII
OHIO. FOR THE PURPOSE OF PAYING
THE VILLAGES PORTION OF THE COST
AND EXPENSE OF IMPROVING STATE
HI HIGHWAY NO. %, IN THE VILLAGE
BEGINNING AT THE INTERSECTION OF
BENTLEY ROAD WITH MAIN STREET
THENCE NORTHEASTERLY OVER AND
sTaTF sEoMG THE ROUTE OF OF MAIN IA 81 STREE
NORTHEASTERN CORPORATION LINE
OF SAID VILLAGE IN COOPERATION
WITH THE DIRECTOR OF HIGHWAYS
OF THE STATE OF OHIO.
WHEREAS, the State of Ohio, BY the D-
rector of Highways of said State has deter
mined to improve State Highway No 22 in
the Village of Button. Allen County. Ohio.
beginning at the intersection of Bentley Road
with Main Street. thence northeasterly over
and along the route of said Main street to
the northeasterly corporation line of said Viii
iage OF Button. pursuant to the provisions
OF General Code, Section 11S9, and related
sections, and
WHEREAS, the Village of Bluffton 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 S5000.0o 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 Biuffton does not and will not.
after issuance of the bonds herein proposed
to be issued. exceed one percent of the total
of 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 vote of the
electors of this village. NOW THEREFORE.
COUNCIL OF THE VILLAGE OF BLUFF
TON, ALLEN COUNTY. OHIO, THREE
F0URTHS OF ALL THE MEMBERS ELECT
ED THERETO CONCURRING:
SECTION l. That it is deemed necessary
to issue the bonds of the Village of Buffton.
Allen County Ohio. in the principal sum of
s5000.00 in order TO provide a fund for the
purpose of paying the villages portion of the
Highway No. p in the Village of Bluifton
beginning at the intersection of Bentley Road
with Main Street in the Village of Bluifton,
Allen County. Ohio, thence northeastery over
and along the route of Main Street in said
Village. State Highway No 22 to the north
easterly corporation line of said village, in
cooperation with the Director of Highways OF
the State of Ohio provided by Sections 1889
1892 and related sections of the General
| Code of Ohio. Anticipatory notes shall not
| be issued in anticipation of the issuance oi
such bonds.
| SECTION e That bonds of the Village
| of Buffton Allen County, Ohio. shall be Is.
| sued in the principal sum of S5000.00 for tbs
purpose aforesaid Each of said bonds shall
1
bonds shall be dated June |, 1914, and shall
bear interest at the rate of 3 per cent pei
annum, payable semi-annually on the 1st days
| of June and December of each year until the
principal sum is paid. The first interest pay
ment to be June l. 1945. Provided, however
that If said bonds are sold bearing a different
| rate of interest than hereinbefore specified
such bonds shall bear such rate of interes
as may be provided for in the resolution o.
| council approving the awarding thereof t.
/ ~ IF uafd bonds Shai
mature as follows: One bond on December |
| 1e45, and thereafter one bond on Decembe
1st in each of the years from 1916 to 1854
| all said bonds shall be payable at the Office
| of the Citizens National Bank in the said Vii
Iage of Bluffton. Ohio.
| SECTION 8. Said bonds shall express upor
| their face the purpose for which they are is
| sued that they issued in pursuance o.
| this ordinance and shall be signed by tn,
Mayor and Clerk. and sealed with the cor
porate seal of said village The interest cou
| mons attached to said bonds shall bear th'
| facimile signature of the City Clerk. Salt
bonds shall be numbered consecutively from
| ! to 10. inclusive.
| SECTION a. For the purpose of providint
1 the necessary funds to nay the interest on thu
| foregoing Issue of bonds promptly when ant
| as the same falls due, and also to provide
! fund sufficient to discharge and pay said seria
bonds at maturity. there shall be and is here
bv levied on all the taxable property in sale
Village of Rlufton. Allen County. Ohio, ii
| addition to all other taxes, direct tax annu
ally during the period said bonds are t.
run, in an amount sufficient to provide funds