The Union County journal. [volume] (Marysville, Ohio) 1875-1951, 1946-12-12
ORDINANCE NO. 46O

An ORDINANCE PROVIDING FOR
THE ISSUANCE OF BONDS OF
THE VILLAGE OF MARYSN LILLE,
OHIO FOR THE PURPOSE OF
CONSTRUCTING ADDITIONAL SAN
ITARY AND STORM SEWERS AND
ALTERING THE PRESENT SANI-
FARl AND STORM SEW AGE
SYSTEMS
WHEREAS. at an election held on
the 9TH day of November, 1916 on
the proposition of issuing bonds of
the Village of Marysville, Ohio, for
the purpose hereinafter stated, in
the sum of one Hundred SiXty-fi
Thousand Dollars (S165, ,000.00D, and
of leVying taxes outside o fthe ten
mill limitation to pay the interest
and principal of such bonds. at
least SiXty-fiVe percentum of those
voting upon the proposition voted in
favor thereof, and,
WHEREAS this council has re-
quested the Village Clerk to issue
his certificate as to the estimated
life of the property, asset or i'm
proVement proposed to be acquired
or constructed from the proceeds of
the bonds hereinafter referred to,
ande the Village Clerk has certified
to this council such estimated life
further certified the maximum ma
turity of such bonds as twenty
years.
NOW, THEREFORE,, be it or
dained by the council of the Will
age of Marysville, state of Ohio,
Section !. That it is deemed nece-
ssary to issue bonds of the Village
of Marysville i'm the principal sum
of Sl65,000.00 in order to provide a
fund for the purpose of construct
ing additional sanitary and storm
sewers and altering the present san
itary and storm sewage systems
and to provide a fund for the pay
interest on said bonds. That such
bonds shall be issued in one lot
,and that anticipatory notes shall
not be issued in anticipation of the
issuance of such bonds.
Section ?. That bonds of the Will
age Of MarYsville shall be issued
i'm the principal sumof S165, 100000
for the purpose aforesaid. Each of
said bonds shall be in the denomi- =
nation of 100000 and said bonds
shall be dated Jan. |. 1947. and shall
bear interest at the rate of 2% per
annum, payable semi annually, on
the first days of January and July
of each year until the principal
sum is paid. provided however, that
if said bonds are sold bearing a
different rate of interest than here
inbefore specified. such bonds shall
bear such rate of interest as may
be provided for in the resolution of
council approving the award there
of. Said bonds shall mature as fol-
lows:
Eight (S) bonds on January 1st
of each year from January LIST, 194S
to January 1St 1865. both inclusive.
Ten G0) bonds January 1st. 1866
and eleven GD bonds January lst,
The principal and interset of all
said bonds shall be payable at the
office of The First National Bank
i'm the Village of MarysVille, State of
Ohio.
Section 3. That said bonds shall
express upon their face the pur-
pose for which they are issued; that
they are issued i'm pursuance of this
ordinance, and shall be signed by
the Mayor and Clerk, and sealed
with the corporate seal of said Will
age. The interest coupons attached
to said bonds shall bear the FAC
simile signature of the Village clerk.
Said bonds shall bear such consective
numbers as the village Clerk shall
determine.
Section A. That for the purpose of
providing the necessary funds to
pay the interest on the foregoing
issue of bonds. promptly when, and
as the same falls due and also to
provide a fund sufficient to dis
charge the said serial bonds at
maturity, there shall be and is here
by levied on all the taxable property
in said Village of Marysville, in
addition TO all other taxes. direct
tax annually during the period said
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 also
to DroVide a fund for the discharge
of the principal of said serial bonds
ia maturity, which tax shall not be
less than the interest and sinking
fund tax required by Section II OF
Article XII of the Constitution. Said
tax shall be levied outside the~ten
mill limitation.
Said tax shall be and is hereby or
dered computed, certified, levied and
extended upon the tax duplicate
and collected by the same officers.
in the same manner and at the same
time that taxes for general purposes