Ottawa County news. (Port Clinton, Ohio) 1931-1956, 1954-05-28
LEGAL NOTICE
ORDINANCES NO. a74-A


THE ISSUANCE OF $4,000 OF
VILLAGE HALL IMPROVEMENT
BONDS OF THE VILLAGE OF
PUTIN BAY, OTTAWA COUNTY,
OHIO, FOR THE PURPOSE OF
MAKING PERMANENT IMPROVE
MENTS TO THE EXISTING VIZ
LACE HALL BY REPAIRING, RE-
CONSTRUCTING AND IMPROVING
THE SAME AND REPLACING AND
REPAIRING FURNISHINGS, FUR
NITURE AND + Q L / p NJ e n 7
THEREIN.
WHEREAS, pursuant to resolu
tions heretofore adopted by this
Council an election was held on
November 3, 1868, upon the ques-
tion Of issuing bonds for the pur-
pose of making permanent improve
ments to the existing Village Hall
bv reDairing, reconS tructing and
improving the same and replacing
and repairing furnishings, furniture
and equipment therein in the a
mount of $4,000 and of a levy OF
taxes outside of tax limitations to
pay the principal Of and interest
on such bonds, and
WHEREAS, at said election the
requisite majority OF those voting
upon the proposition voted in favor
thereof and this Council now pro
poses to proceed with the issuance
Of said bonds; and
WI EREAS, in pursuance of the
request of this Council the Village
Clerk, a : Fiscal Officer of the Viii
lage, has heretofore certified that
the estimated life of the property
and improvements to be financed
by the issuance of said bonds is at
least five years and that the max
imum maturity of said bonds is
fourteen years being the period Of
% re f,r d fah d.. ~ afs %
voted;
NOW, THEREFORE,, BE IT OR
DAINED by the Council Of the Vii
lage of Put-in-B Bay, ottawa County,
Section 1. That it is necessary
to issue the bonds Of the Village
Of Put-in-B Bay in the principal a.
mount of $4,000 in order to pro
vide a fund for making permanent
improvements TO the existing Viii
lage Hall by repairing, reconstruct
ing and improving the same and
replacing and repairing furnish
inSs, furniture II equipment
therein; that such bonds shall be
issued in one lot; and that notes
shall not be issued in anticipation
of the issuance of said bonds
Section 2. That said bonds shah
be in the denomination of $1,000
each, shall be numbered from l to
30. both inclusive, shall be dated
the first day Of May, 1854, and
shall bear interest at the rate of
three per centum (3G6) per annum,
payable semi-annually on the first
day of May and the first day of
November Of each year until the
/ principal sum is paid, as evidenced
by the coupons attached thereto;
provided however, that If the bonds
are sold bearing different rate
! - S,,41 I, fsa.F
such bonds shall bear such rate of
interest as may be provided in the
resolution of Council approving the
award thereof Such bonds shall
nature as follows; $4,000 on NoVem-
her in each year from 1855 to
1856, inclusive and $4,000 on Novem-
ber in each year from 1857 to
! 1863, inclusive, which maturities
are hereby determined to be sub
stantially in equal annual INSTALL
ments
Section 3. Said bonds shall be
/ executed By the Mayor and Clerk
/ and shall bear the corporate seal
/ Of said Village The interest cou-
/ ponS attached to said bonds shall
! bear the facsimile signature Of the
! Clerk printed or autographed there
| on They shall be designated vii
! lage Hall Improvement Bonds" and
! shall be PAYABLE in lawful money
! of the nlted states or America
/ al the office of the legal depository
! Of said Village, presently The A
merican Bank Of Port Clinton, Ohio,
! Port Clinton, Ohio
Section t. For the PURPOSE Of
providing the necessary funds to
pay the interest ON the foregoing
issue of bonds promptly and when
and as the same falls due, and also
to provide fund sufficient to dis
charge the said serial bonds At ma
turity, there shall be and is hereby
levied on the taxable property in
the VILLAGE of Putin Ray. in ad6i-
tion to all other taxes, direct taN
! annually during the period said
bonds are to run in an amount Suf-
ficient to provide funds to pay the
/ interest upon said bonds as and
when the same fan due, and also
to provide FUND FOR the discharge
Of the principal of said serial bonds
/ at maturity, which tax shall not be
less than the interest and sinking
fund tax required by Section II oi
Article XII of the Constitution OF
Ohio. and shall be outside Of the
| limitation of Section > OF said Ar
ticle
Section 5. Said tax shall be ant
is hereby ordered computed certi-
! fled, levied and extended upon tho
tax duplicate and collected by the
same officers in the same manner
and at the same time that taXe'