The Bluffton news. [volume] (Bluffton, Ohio) 1875-current, 1952-09-18

The Council of xhe Village of Button,
| Ohio, met in special session on Sept. 8, 1852.
| with the following &nembers present: Ger
hard Butler. DelberF A. McGinnis. Richard
| j. Davies, Donald Ram, Clay Henderson.
Absent: Everett Sutermeister.
/ An ordinance prov ing for the issuance of
| $3.50, 600 Sewer Imp# vement Notes and de-
i claring an emergenc% II WAS presented and read.
/ Moved by Gerhard N&hler, seconded by Clay
/ Henderson, that thes #ule requiring the read
ing of an ordinance "a three different days be
suspended.
Ayes: Gerhard BulHer, DeIbert A. McGin-
| mis-, Clay Henderson. Donald Ream, Richard
J. Davies.
Nays: None. Ell
| Motion carried.
Moved by Donald Ram, seconded by Rich
| ard J. Davies, that TN ordinance be placed
upon its final readingA md passed.
Ayes: Donald Reams%Elay Henderson. Rich
| ard ]. Davies, DelbertsA. McGinnis. Gerhard
/ Buhler.
Motion carried;
AUTHORIZING TAN ISSUANCE OF
NOTES IN ANTICIPATION OF $3.50, 900
SEWER IMPROVEMENTS BONDS AUTHOR
lied BY H ELECTARS AT H NOV
EMBER 1850 ELECTH9k, N
ING AN EMERGENCH@
WHEREAS. pursuantHto resolutions here
tofore adopted by thisACcuncil an election
/ was held on the fth da& of November, 1850,
upon the question of Mkaing bonds for the
purpose of constructina fntercepting sanitary
sewers and sewage diAfpsal works. in the
sum of $3.50, 900. and ofAx levy of taxes out
side of the ten-mill Invitation to pay prin-
cipal and interest on sch bonds and
WHEREAS. at said @sction the requisite
majority of those votinIB on the proposition
| voted in favor thereof, and this Council now
proposes to proceed VIII the issuance of
notes in anticipation of zoe issuance of such
bonds and "A
WHEREAS. the villaFE Clerk has certified
that the life or usefult&s of the property
| and improvement CONTEMPLATED exceeds five
| years, as we'll as the rm6ximum maturity of
| said bonds in accordanSAL with No. 229S-9 of
the General Code. which, maximum maturity
does not exceed the IWximum number of
years required to retire1fhe bonds as certified
by this Council to thdIgounty Auditor and
Deputy State Supervisd<s and Inspectors of
Elections now. therefdN
BE IT ORDAINED Id the Council of the
Village of Button, St&f@ of Ohio.
Section /. That forsxthe purpose of con-
s~tructing intercepting BKnitary sewers and
sewage disposal works 81 is necessary to is
sue and there shall be- ssued bonds of the
Village of Button in Nhe principal sum of
$50, 900 under authonfS of the Uniform
Bond Act of the GeneMl Code, and notes
shall be issued in antis$nation thereof. That
this council contemplat@Athat said bonds will
be dated OBSERVATION-DISCLOSURES /, 1853, will
bear interest at a rat& estimated at three
t3F5) per centum per astnum, payable semi
annually, and will matANe in twenty annual
installments after theig issuance.
Section 2. 1t is he1etRy determined to is
sue notes in anticipating of the issuance of
said bonds in~ihe sum of1$1S0, 900. Said issue
shall cons@ OF notes such denominations
!: &. !: :::::: Cd, u Z: !; :: !: !. g. + {: :: : ): !; !: !: I: !: !:
Citizens National BankMDf Button, Ohio.
Section 8. Said notea8haIl express on their
face the purpose for which they are issued
that they are issued u Eursuance of this or
dinance and shall be sikAed by the Mayor and
Clerk. ~
Section 4. Subject 10 rejection of said
notes by the Board oENJrustees of the Sink
ing Fund, said notes aEs hereby awarded and
sold TO Ryan, Suther3Rnd and Company of
Toledo, Ohio. at parTeplus accrued interest
In accordance with their written offer of pur-
chase dated Sept. 3. 1E52. Out of the pro-
ceeds of sale, the acfrued interest, If any,
together with such ar4Nhnt as may be neces-
sary to pay the int fMt accruing on such
notes to the maturit0T thereof shall be set
aside and transferred III the Bond Retirement
Fund and the balarfA of the proceeds of
such sale shall be paias into the proper fund
and used for the pk4pose for which said
notes are being issuAE under the provisions
of this ordinance. |
Section 5. Said does shall be the full
general obligations G&fthe Village of Bluff |
ton and the full faith% credit, and revenue of
the village are hereby pledged for the prompt |
payment of the san1&F The par value to be
received from the sale of the bonds antici- |
pated by said notes I'D any excess fund re- |
sulting from the issuNuce thereof shall. to the |
extent necessary. BEG alsed for retirement of |
said notes at maturing together with interest /
thereon. and is hereby pledged for such pur- |
pose. ri |
Section 6. Durinasfhe year or years while |
such notes run thexf shall be levied on all
the taxable propertf5n the Village of Bluff |
ton in addition to IN other taxes and outside /
of tax limitations. Aadirect tax annually not
less than that whieke would have been levied |
If bonds had been k5ssued without the prior |
issue of such notesA
Section Z. The 06rk Is hereby directed 10 |
forward a certified ABpy of this ordinance To |
the County AuditorE
Section s. This nrdinance Is hereby de- |
clared to be an emergency measure and shall
take effect and be iH4force from and after its /
adoption. The reasEH for the emergency lies i
in the fact that Is ordinance Is necessary |
for the immediate reservation of the public
health. /
Nv. A. HOWE, Mayor
Attest: A. J. B. J@6gsdorf, Clerk
/ hereby certify MAT the foregoing Is a
true copy Of an Ordinance providing for the
issuance of $3.50. no Sewer Improvement
Notes. together WITH minutes of the meeting
showing the vote dNreon.
% A. J. tK LONGSDORF, Clerk
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