The Bluffton news. [volume] (Bluffton, Ohio) 1875-current, 1953-09-10
ORDINANCE I-s-ss

ORDINANCE I-S-53
NoTEs anTHqG1kf To ESfE HE ssgAhSE MaTnRx OF OF
OUTSTANDING ONE YEAR NOTES IS
SUED IN ANTICIP ATIoN OF slso:ooo SEW
sse rHE At pH6LsRNa DHa aE
e'V WHEREAs. fnsaEHl' THH ONE YEAR $50 900
Sewer Improvement Votes authorized by ord-
nance passed September g. 1852 which are
| dated October !, 1852 are due October /, 1868,
and
| WHEREAS. the wdtk is not yet completed
and this council deem& IL necessary to extend
the maturity of said n@tes and renew them for
BE TT ORDAINED by the Council of the
Village of Bluffton, StAte of Ohio,
Section l. That forX the purpose of con-
structing intercepting Nsanitary sewers and
sewage disposal works lit Is necessary to is
sue and there shall be Issued bonds of the VIII
lage of Buffton in the Principal of $780,
| 600 under authority of fhe Uniform Bond Act
of the General Code. ard notes shall be issued
in anticipation thereof.
That this council ccntemplates that said
bonds will be dated approximately September
l. 1854, will bear interest at rate estimated
at three and one-haH EHr centum per annum.
payable sem-an nualy, and will mature in
l twenty-five annual instMllments after their is
suance.
Section 2 1t is hereby determined to issue
| notes to extend the mafnrity of said outstand-
ing one year notes is&ued in anticipation of
| the issuance of said bofIls in the of $780,
| 000 Said issue shall 6nsst of notes of such
| denominations the purchaser shall request,
dated October 1, 1851 due and payable one
year from date and å in&rest at the
rate of three per cent9m per a4xum payable
/ at maturity. Both priIfipal and fihterest shall
be payable at ThS>Citpens Natipnal Bank of
Bluffton in BuGton, Ohio.
&c: ssssso e s@. T i:.sss sssi:
nance and shan be siaA Aed~by tie Mayor and
/ Clerk.
Section 4. Subject b rejection of said
| notes by the Board of trustees of the Sinking
Fund. said notes are hi reby awarded and sold
to Ryan, Sutherland amf Company of Toledo,
| Ohio at par plus accrue4 interest in accordance
| with their written ofEr of purchase dated
1 September l, 1853. Gflt of the proceeds of
sale, the accrued intere#, If any, together with
such amount may u necessary to pay the
interest accruing suEh notes to the matiri-
ty thereof shall be set aside and transferred
to the Bond Retirementk Fund and the balance
of the proceeds of such sale shall be paid into
| the proper fund and uSe for the purpose for
| which said notes are beng issued under the
provisions of this ordirDn
Section 81 Said noteS shall be the full gen.
| eral obligations Of the Village of Bluffton and
the full faith. credit. ahd revenue of the vii
lage are hereby pledged for the prompt pay.
ment of the same TIE par value to be re-
| ceived from the sale of the bonds anticipated
by said notes and any excess fund resulting
from the issuance therepf shall. to the extent
necessary, be used for fHtirement of said notes
at matnritv together With interest thereon,
and is hereby pledged fer such purpose
| Section 6. During ths year or wears while
such notes run there sha4l be levied on all the
taxable property in the Village of Bluffton in
addition to all other tasSks and outside of tan
limitations a direct tax annually not less than
that which would have been levied If bonds
had been issued without NE prior issue of such
notes. u
| Section Z. The Clerk Is hereby directed tc
forward certified copy of this ordinance tc
the County Auditor.
| Section g. This ordnance is hereby de-
elared TO be an en1erpeney measure and shal
take effect and be in fosce from and after M
adoption The reason fbr the emergency lies
in the fact that this ordinance is necessary
for the immediate preservation of the public
health
w A. HOWE, Mayor
Attest: A. j. Y. Ton9sdorf. Clerk
/ hereby certify that the foregoing Is true
copy of an Ordinance providing for the 'ss''
anee of SlR0.000 Sewer Improvement Notes
together with minutes of the meeting showing
the vote thereon.