Geauga record. [volume] (Chardon, Geauga County, Ohio) 1952-1962, 1960-12-08

Naval Air Station in Norfolk,
Treasurer at private sale at
an interest rate specified in
the offer of the purchaser but
not exceeding the rate men
toned in Section 4 thereof for
not less than par and accru-
ed interest, and the proceeds
from such sale except any
premium and accrued inter-
est thereon shall be paid in
to the proper fund and used
WITH ORD. NO. 352
for the purpose aforesaid and
for no other purpose. Any
premium and accrued inter-
est shall be transferred to the
Bond Retirement Fund to be
applied in the payment of
principal and interest of said
note in the manner provided
by Law.
Section 7. Said note shall
be the full general obligation
of the Village and the full
faith, credit and revenue of
such Village are hereby pied
ged for the prompt payment
of the same. The par value
to be received from the sale
OF the bonds anticipted by
said note and any excess
fund resulting from the issu-
ance of said note shall be to
the extent necessary be used
only for the retirement of said
note at maturity, together
with interest thereon, and is
hereby pledged for such pur-
pose.
Section 8. During the year
or years while such note runs
there shall be levied on all
the taxable property in the
Village Of Chardon, in addi-
tion to all other taxes, a dir
ect tax annually not less than
that which would have been
levied if bonds had been is
sued without the prior issue
Of such note. Said tax shall
be and is hereby ordered CO.
imputed, certified, levied and
extended upon the tax dupli-
cate and collected by the
same officers, in the same
manner and at the same time
that taxes for general purp-
oSeS for each of said years
are certified, extended and
collected. Said tax shall be
placed before and in prefer
ence to all other items and
for the full amount thereof.
The funds derived from said
tax levy hereby required is
shall be placed in a separate
and distinct fund, which, to-
gether with the interest col
lected on the same, shall be
irrevocably pledged for the
payment of the principal and
interest of said note or the
bonds in anticipation Of = ich
it IS issued, when 2 ... e
same fall due.
Section 9. 1t is hereby de-
termined and recited that all
acts, conditions and things
necessary to be done, prece-
dent to and in the issuing of
said note in order to make it
a legal, valid and binding OBJ
legation of the Village of Cha
rdon, have been done and per
performed in regular and due
form as required by law; and
that no limitation of indebted
ness or taxation, either sta
tutory or constitutional, will
have been exceeded in the is
Suance of said note.
Section 10. The Clerk is
hereby directed to forward a
certified copy of this ordin-
ance to the County Auditor.
Section IL. This ordinance
is hereby declared to be an
emergency measure neceS-
sary for the immediate pre-
servation of the public health,
safety and welfare of said
Village and for the further
reason that the immediate is
Suance and sale of the note
herein authorized is neces-
sary to provide funds to en-
able the Village to retire it's
existing Indebtedness and
thereby preserve it's credit;
wherefore, this ordinance is
shall be in full force and eff
feet from and Immediately
after its passage.
Passed: December /, 1860
j. w. Meats
Mayor