The Bluffton news. [volume] (Bluffton, Ohio) 1875-current, 1955-12-22
ORDINANCE NO. Isl

ORDINANCE NO. 7-55
Providing for the Issuance of Bonds of the
Village of Bluffton for the Purpose of Con-
structing 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 & 26th days
of July, 1855, an election was held on the
date named in said Resolution, to-wit: the
8tn day of November, 1855, upon the question
of issuing bonds for the purpose of the con-
struction of a municipal swimming pool and
appurtenances in the sum of Fifty Thousand
Dollars, $3.50, ,00000G of which election due
notice was given According to law and at
which election 55B of the electors voting on
said proposition voted in favor thereof, and
WHEREAS, II is now deemed necessary to
issue and sell $50 000. 90 of said bonds under
authority of Sections 2293-2 and 2293-l9 to-23,
inclusive. of the General Code of the State of
WHEREAS. This Council contemplates the
of $50y000O0 of said sum for the con-
struction Of municipal swimming pool and
appurtenances and will require $50000 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
WHEREAS, This Council desires a single
bond issue for the foregoing purpose and the
Village Clerk has certified the maximum ma
turity of said bonds, which maximum MATURE
ty does not exceed his estimate of the average
number of years of usefulness as measured by
the weighted average of the amounts proposed
to be expended for said improvements In ac-
cordance with the table Of maturities liked BY
Section 2293-9 of the General Codes and Ff
WHEREAS, This Council estimates that
tax for said bonds will first appear upon the
duplicate for the tax year 1865, and that the
final tax settlement with the County Treasurer
next following the nclusiop of tax for this
issue in, the annual budget by the County
Auditor, as provided bylaw. will be obtained
not earlier than the lhrst day OF September
1867 :; now, Therefore,
BE IT ORDAINED. BY the Council of the
Village OF Blufton.
| Sec l. 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 22o3-2 and 2293-l9 to -23, 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 $50.0O0.OO
and that notes shall not be issued in antici-
patton thereof.
Sec. 2. Said bonds shall be dated the LIST
day of April. 1856, and shall be in the de-
nomination of One Thousand ID o a s
(Sl 900 .00) each. They shall be serial and shall
be numbered from one ID to fifty (50) both
numbers inclusive. They shall bear interest at
the rate of two (2ft) per centum per annum.
payable sem-annuay on the LIST day OF April
and October of each year, until the prlnclpal
sum is paid. as evidenced by the interest cou-
pons attached thereto, the first interest, how
ever, being payable on the LIST day of October,
1855. Both principal and interest of said bonds
shall be payable at the office of the legal de-
pository of said Village of Button, Ohio,
fnpon presentation and surrender of bonds and
Interest coupons IA they respectively mature.
See g. Said bonds shall be due and pay
able as follows: $1,000 on April /, in each
of the years 1857 TO 1885, inclusive, and $4,000
on October / in each of the years 1857 to 1866
inclusive, which maturites hereby deter
mined to be in substantially equal semi annu.
al installments.
Sec. 4. For, the payment of said bonds and
the interest coupons thereto attached the full
faith, credit and revenue of the Village OF
Bluffton. Allen Coupty, Ohio Is hereby ir.
revocably pledged and for the purpose of pro-
vidirg the necessary funds to paw the interest
on the foregoing issue of bonds, promptly
when and as the same falls due. and also tC
provide fund sufficient "a. discharge the said
serial bonds at maturity, there shall be and is
hereby levied ON all the taxable property in
the Village of Button, Allap County, Ohio
in addition TO all other taxes q direct tax an
nually outside the 10 mill Limitation during
the period said bonds TO run in amount
sufficient to provide funds to nay interest up-
on said bonds as and when the same falls
due and also TO provide a fund for the dis.
maturity. which tax shall not be less thar
the interest and sinking fund tax required by
Section II 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
time that taxes for general nurposes for each
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