The Bluffton news. [volume] (Bluffton, Ohio) 1875-current, 1955-12-29


Providing for the Issuance of Bonds of the
Village of Bluffton for the Purpose of Con-
structng a Municipal Swimming Pool and
Appurtenances.
WHEREAS. Pursuant to Resolutions adopted
by. the Council of the Village Of Bluffton.
Allen County, Ohio, on the 18th q 26th days
of July, 1855, an election was held on the
date named in said Resolution, to-wit: the
Stn day of November, 1855, upon the question
of issuing bonds for the purpose of the con-
struction of municipal swimming pool and
appurtenances in the sum of Fifty Thousand
Dollars, ($50,0 ,000.00b of which election due
notice was given according to law and at
which election $50 of the electors voting on
said proposition voted in favor thereof, and
WHEREAS, 1t is bow deemed necessary to
issue and sell $50,00000 of said bonds under
authority of Sections .2293-2 aud 2293-l9 to-23,
inclusive, of the General Code of the State of
Ohio; and
WHEREAS, This Council contempates the
use of $5O.OOO.OO Of said sum for the, con-
struction of a municipal Swimming pool and
appurtenances and will REQUIRE $500.0O not
to exceed one half years interest, TO care for
interest maturing previous to the receipt of
the taxes from which such interest is to be
WHEREASf This Council desires a single
bond issue Tor the foregoing purpose and the
Village Clefk has certified the maximum ma
turity of said bonds. which maximum naturi-
ty does not exceed his estimate of the average
numbepeof years of usefulness as measured by
the Weighted average of the amounts proposed
70 Ne eApenQe0 IOr @Salu improvements IN dC-
csfdance with the Fable of maturities fixed by
Section 2293-9 of the General Code and
WHEREAS This Council estimates that a
tax for said bonds will first appear upon the
duplicate for the tax year 1856, and that the
final tax settlement with the County Treasurer
next following the inclusion of tax for this
issue in the annual budget by the County
Auditor, provided by law, will be obtained
not earlier than the first day of September
BE 1T ORDAINED, By the Council of the
Village OF Bluffton.
Sec. /. That, for the purpose of the con-
struction of a municipal swimming pool and
appurtenances there shall be issued and sold
bonds of this Village under authority of Sec
tions 2293-2 and 2293-19 to 2S, inclusive, OF
the General Code of Ohio, in one lot and that
the amount of said bonds to be presently issued
shall be in the principal sum of $5O,O0OO0.
and that notes shall not be issued in antici-
patton thereof
Sec. z. Said bonds shall be dated the 1st
day of April, 1856, and shall be in the de-
nomination of One Thousand ID o ars
Isl ,00000) each. They shall be serial and shall
numbers inclusive. They shall bear interest at
the rate of two (2et) per centum per annum.
payable semi-annually on the lst day OF April
and October of each year, until the principal
sum is paid, as evidenced by the interest cou-
pons attached thereto, the first interest, how
ever. being payable on the lst day of October,
1856. Both principal and interest of said bonds
shall be payable at the office OF the legal de-
upon presentation and surrender OF bonds and
interest coupons as they respectively mature.
Sec. B. Said bonds shall be due and pay
able as follows: $4,000 on April l, in each
of the wears 1857 to 1885, inclusive, and 49, 900
on October in each of the years 1857 to 1866,
inclusive, which maturities are hereby deter
mined to be in substantially equal semi annu-
al installments.
Sec a. For the payment of said bonds and
the interest coupons thereto attached the full
faith. credit and revenue OF the Village OF
Buhton. Ailen County: Ohio, is HEREBY lr-
revocably pledged, and for the purpose of pro-
vidipg the necessary funds to pay the interest
on the foregokng issue of bonds, promptly
when and as the same falls due, and also to
provide fund sufficient to discharge the said
serial bonds at maturity. there shall be and is
hereby levied on all the taxable property in
the Village of Blufton, Allen County. Ohio,
in addition to all otAer taxes a direct tax an
nually outside the 70 mill limitation during
the period said bonds are to run in an amount
sufficient 70 provide funds to pay interest ups
on said bonds as and when the same falls
due and also to provide fund for the dis
charge 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 IL of Article XII of the Constitution.
Said tax shall be, and is hereby ordered
computed, certified levied and extended upon
the tax duplicate. and collected by the same
officers in the same manner and at the same
of said years are certified, extended and col
lected. Said tax shall be PLACED before and in
preference to all other items and for the full
amount thereof. The funds derived from said
tax levies hereby required shall be placed in
a separate and distinct fund, which, together
with all interest collected on the same, shall
be rrevocaby pledged for the payment of the
interest and principal of said bonds, when and
as the same fall due.
Sec. 5. Said bonds shall be signed by the
Mayor and the Village Clerk and the interest
coupons shall have the facsimile signature of
said Village Clerk printed or photographed
thereon.
Sec 6. 1t is Hereby determined that all
acts, conditions and things necessary to be
done precedent to and in the issuance of said
bonds in order to make the same legal, valid
and binding obligations of said Village have
been done, have happened and been performed
in regular and due form required by law
and that the tax for tbe payment of the prin-
cipal and Interest asfthe same fall due and
are payable does not exceed any limitations
of taxation of said Village. and that the
amount of this bond issue does not exceed any
limitation of indebtsdness as fixed by law.
Sec. z. The Village Clerk is hereby author
lied and directed TO offer this issue of bonds
first to the Trustees of the Sinking Fund of
said Village and if refused, then he is dir
ected to offer the same for sale as provided by
law and receive bids for the purchase thereof.
Said bonds shall not be sold for less than par
and accrued interest to the date of delivery.
When said bonds have been once advertised
and offered at public sale, as provided by law
and they or any part thereof remain unsold
for want of bidders those unsold shall be sold
less than their par value and accrued interest