The Union County journal. [volume] (Marysville, Ohio) 1875-1951, 1946-12-19

1897.
. The prinei pal and interset Of all
said bonds shall be payable at the
office of The First National Bank
in the Village of Marysville, State of
Ohio.
Section 3. That said bonds shah
express upon their face. the plfr-
pose for which they are issueds that
they are issued in pursuance of this
ordinance, and shall he signed by
the Mayof 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 consecutive
numbers as the Village Clerk shah
|deternaine.
Section 4. That for the purpose Of
providing the necessary funds 10
pay the interest on the foregoing
Issue of bonds, promptly when. and
as the same faf1s 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 oa all the, taxable property
in said Village of Marysvflle, IN
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 provide a fund for the discharge
ia maturity, which tax shall not be
less than the interest and sinking
fund tax required by Section III of
Article XII of the Constitution. Said
tax shall be levied outside the ten
Imill limitation.
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
for each of said years are certified,
extended and collected Said tax
shall be placed before, and in pref
terence to. all other items and for
the full amount thereof. The funds
derived from said tax levies here
by required shall be placed in a
separate and distinct fund. which
together with all interest collected
on the. same, shall be irrevocably
pledged for the payment of the in
lterest and principal Of said bonds
when and as the same fall due.
Section 5. That said bonds shall
be first offered at par and accrued
interest to the Trustees Of the Sink
ing Fund in their official capacity
and if said trustees. refuse to take
any or all of said bonds, then said
bonds not so taken shall be adver-
tised for public sale and sold in the
manner provided by law under the
Hdirection of the Finance Committee
and the Clerk, but not for less than
their par value and accrued inter-
lest; the bond sale advertisement
shall state that any one desiring to
do so. may present bid or bids for
such bonds based upon their bearing
a different rate of interest than
shereinbefore fixed provided. how
ever, that where a fractional inter-
est rate is bid, such fraction shall
multiple thereof; the amount of the
bond or certified check to accompany
bids shall be $4,000; the pro-
ceeds from the sale of said bonds,
except the premium and accrued
interest thereon and the amount
Lof said bonds issued for interest,
shall be used for the purpose afore-
said and for no other purpose; the
premium and accrued Interest re-
ceived from such sale and Sinking
Fund to be applied in the payment
of the principal and interest of said
bonds in the manner provided by
| law.
Section 6. The Village Clerk is
hereby directed to forward a certi-
fled copy of this ordinance TO the
County Auditor.
Section Z. That this ordinance
shall take effect and be in force
| from and after the earliest period
|allowed by law.
Passed November 2S. 1916.
G. j.. KINCsSMoRE
President of the Council
Attest: GEO. p. SCHEIDERER,
Clerk of the Council
Approved: VIM e. ASMAN,
12-12-2T