The Union County journal. [volume] (Marysville, Ohio) 1875-1951, 1947-03-06
AMENDED ORDINANCE
No. asa

BEING AN ORDINANCE AMEND
ING AND CORRECTING ORDIN-
ANCE NO. $50 PASSED THE 27th
DAY OF NOVEMBER, 1916.
AN ORDINANCE PROVIDING FOR
THE ISSUANCE OF BONDS OF
THE VILLAGE OF MARYSVILLE,
OHIO FOR THE PURPOSE OF CON-
STRUGGLING ADDITIONAL SAM
TARY AND STORM SEWERS AND
ALTERING THE PRESENT SAM
TARY AND STORM SEWAGE SYS-
TENS.
WHEREAS, at an election held on
the 5th 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 five
Thousand Dollars ($165,00O.00), and
of levying taxes outside of the ten
mill limitation to pay the interest
and principal of such bonds, at least
SiXty-siX percentum of those voting
upon the proposition voted in fa-
vor 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,
and the Village Clerk has certified
to this council such estimated life
as exceeding five years. and has
further certified the maximum ma
turity of such bonds as twenty
years,
NOW, THEREFORE,, be it ordain-
ed by the Council of the Village of
Marysville, State of Ohio.
Section /. That it is deemed nee
essary to issue the bonds of the
Village of Marysville in the prin-
cipal sum of 100000 in order to
provide a fund for the purpose of
constructing additional sanitary and
storm sewers and altering the pres
ent sanitary and storm sewage sys-
TENS. That such bonds shall be
issued in one lot and that antici-
patory notes shall not be issued in
anticipation of the issuance of such
bonds.
Section 2 That bonds of the Village
of Marysville shall be issued in the
principal sum of $165, 100000 for the
bonds shall be in the denomination
of 100000. and said bonds shall be
dated January 1St. 1947, and shall
bear interest at the rate of l Y u
per annum, payable semi annually
on the first days of January and
July of each year until the princi
| pal sum is paid that said bonds
Company of Columbus, Ohio, at
said rate of ~ ". Said bonds shall
mature as follows:
$4,000 November /, 194S to 1857
inclusive. except $4,000 in 1851, 1855
| 1859, 1868 and 1867.
cember 1st, 1867.
| The principal and interest Of al
! of said bonds shall be payable at the
office of The First Nati. 'ial Bank
| in the Village of Mari lille, State
| of Ohio.
Section 3. That sal. a5nds shall
| express upon their f. - the purpose
| for which they are ISSUED; that they
are ir' iId N pursuance of this or
dinancc, and shall be signed by the
Mayor and Clerk. and sealed with
| the corporate seal of said Village
| The interest coupons attached &c
said bonds shall bear the fac-simile
| signature of the Village Clerk. Said
| bonds shall bear such consecutive
numbSrs as the Village Clerk shall
| determine.
Section a. That for the purpose ot
providing the necessary funds tt
| pay the interest on the foregoing
| issue of bonds. promptly when, anC
as the same falls due and also tC
provide fund sufficient to dis
| charge the said serial bonds at ma
turity, there shall be and is hereby
| IIeVied on all the taXible property
in said Village of Marysville, in ad-
dition to all other taxes direc
/ tax annually during the period Sait
bonds are to run in an amount suf
| ficient to provide funds to pay in
| terest upon said bonds as and wheI
/ the same falls due and also to pro
vide fund for the discharge of th'
principal of said serial bonds at ma
Iturity, which tax shall not be les
| than the interest and sinking funt
tax required by Section IL of Article
XII of the Constitution. Said tal
shall be levied outside the ten mil
limitation.
Said tax shall be and is hereb,
ordered computed, certified, levie'
and extended upon the tax duplicat
and collected by the same Officers