The Bluffton news. [volume] (Bluffton, Ohio) 1875-current, 1952-11-27
ORDINANCES NO. ISLES,

PROVIDING |pR THE ISSUANCE OF
NOTES OF The VILLAGE OF BLUFFTON
a Of 4ST6pAoH BoN6s PAY SF THE THE vfAsss gSSGAses
PART OF THE NQsT AND IN ANTICTPA-
TON OF THE LNY AND COLLECTION
OF SPECIAL ASSESSMENTS AND IssU-
TY OWNERS PARTN NoF THE COST OF
CONSTRUCTING MAIN INTERCEPTOR
SEWER AND BIG RIIkY INTERCEPToR,
LITTLE RILEY INTEReEPTOR, AND ELM
STREET INTERCEPTOH SEWERS IN GEN.
ERAL SEWER DISTRICF NO. 1, AND De
CLARING AN ,EMERGEECY.
WHEREAS. the villasSs part of the cost
and expense of constructing the hereinafter
mentioned sewers is $40 Do, and the property
owners portion is S234600. now therefore
BE TT ORDAINED bE the Council of the
Village of Bluffton. Sta of Ohio.
Section /. That II iEhereby declared nee
essary to issue the bo is of the Village of
Bluffton in the principH sum of S25000 to
pay the Villages part 81 the cost and in an
ticipation of the coIleS4ion of special assess
ments 10 pay the proLNrty owners portion OF
the cost of eonstructEg a main interceptor
sewer and Big Riley Hhterceptor. Little Riley
! 1nterceptor, and Elm&Street 1ntereeptor Sew
! ers in General SeweE District No. /.
! Section q Said tMnds shall be dated ap-
! proximately Decemb& |, 1858, shall bear in
terest at three (3TM per centum per annur
! payable semi-annua& until the principal sum
| is paid. and shall Nature in 30 substantially
Ieuual annual inst st&lments after their issu-
ance.
| 8. For the pun of raising money in
! anticipation of thu issuance of bonds to pay
! the villages port #n of the cost of said i'm
! provement and in&hnticipation of the levy of
special assessments and issuance of bonds to
pay the property &wners' portion of the cost
of said improvements in accordance with the
legislation heretoHre passed by the Village
Council with resrXet thereto it is hereby de-
cared necessary ID issue and there shall be
issued. notes of Mid Village in the amount
of $500 NJ
Section A. SaidEssue shall consist of notes
of such denominat non as the purchaser shall
desire numbered cAnsecutively beginning with
one, dated Dec. II 1852. due and payable
Dec l. 1853 and Maring interest at the rate
of two and one qu3 3rter per centum (2A) per
annum payable n the maturity of said
notes Both PRINCIPAL and interest shall be
payable at The Cfhzens National Bank OF
Bluffton, in BlufftoH Ohio.
| Section g. Said nS4es shall express on their
face the purpose fof which they are issued
that they are issued pursuant to this ordi.
nance and shall be signed by thee Mayor ano
Clerk and sealed wih the corporate seal OF
the Village. &
Section 6. Said notes shall be the full gen
ersl obligations of The Village, for the pay
ment of principal anal interest of which th'
full faith and reveri&es of the Village are
| hereby pledged. SD Village also hereb!
| pledges itself to levyIRssessrnents to pay th
property owners paTthof the cost OF the I'M
provement in anticie*tion of which thest
notes are issued, anEkto issue bonds in anti
cipation of the colled&fon of such assessments
. The proceeds of theSs&ale of said bonds anC
any excess funds ab6&e the actual cost result
ing from the issuane# of such notes are here
, by pledged for the Mirement of the notes a
: maturity. The assessments collected for tn
Improvement shall III applied to the paymen
of the notes and @herest thereon until bot
, are fully paid and 8 hereafter such assessment
shall be applied tdAhe payment of the bond
! to be issued and t@ interest thereon In tn
> event that assessments are not levied or bond
: issued to provide In fund for the payment o
: the notes at mat #ity. a general tax shall b
levied on all the #Axable property of the Vii
lage sufficient tMpay said notes and the in
terest thereon. II
Section 7. DH&kng the year or years Will
such notes run n&4here shall be levied al
the taxable prd&erty in the Village of Bluff
ton, in additiorEfo all other taxes and outsid
of tax limitat Ms a direct tax annually no
{ less than that which would have been levie
= If bonds had seen issued without the prio
issue of such notes.
Section 8. M Subject to rejection of sal
notes by the Board of Trustees of the Sink
ing Fund, sazH notes are hereby awarded an
; sold to Ryank Sutherland and Company, o
J Toledo, Ohio at not less than par plus &C
J crued intere# in accordance with their writ
ten offer oG purchase dated Sept. s, 1851
Out of the #foceeds of sale, the accrued in
terest, il an together with such amount a
: may be necS sary to pay the interest accruin
: on such nos to the maturity thereof sha
! be set aside and transferred to the Sinkin
! Fund; and the balance of the proceeds G
such sale sb#ll be paid into the proper fun
and used fok&the purpose for which said note
are being iAeued under the provisions of TIL
e ordinance. M
Section 81 The Clerk is hereby directed
e | send certi&ed copy of this ordinance to tt
: County AudIkpr of Allen County.
] Section 1W This ordinance is hereby d
: | clared to BEGAN emergency measure necessal
i | for the immediate preservation of the publ
J. peace, healthfsand safety, and for the furth
e reason that At is Immediately necessary
+ construct the asewers herein provided for
I order to provide adequate sanitary sewera,
i facilities for the village and its inhabitant
n wherefore thiS ordinance shall take effect in
medately upon Its passage and approval.
: kR w A. HOWE. Mayor
: Attest: A. ]. 81 LoNGSDoRF. Clerk
e l. A. ]. B. Longsdorf, Clerk of the Villa,
of Bluffton, ONO, here certify that the for
e going is a true copy of Ordinance No. 6-S
d 1852 providing for the issuance of $3.50. OK
r Interceptor Sever Improvement Notes and
: the minutes of2Council meeting showing Il
j MA NJ. B. LoNGsDoRF. Clerk