« ForrigeFortsett »
Begun and Held in the City of Columbus, January 4th, 1892.
To authorize the council of certain villages to borrow money, and issue bonds therefor to defray the necessary expenses of such villages.
SEction 1. Be it enacted by the General Assembly of the State
of Ohio, That the council of any village having at the last federal census 2,150 inhabitants, or which may at any future census have such population, be and the same is hereby authorized to issue the bonds of such village in any sum not to exceed five thousand dollars ($5,000), bearing interest at a rate not exceeding six per cent. per annum, payable semiannually, for the purpose of defraying the necessary expenses of the government of such village. Not less than two thousand dollars of such money shall be credited to the light fund of the village, and the balance of the money so raised by the sale of said bonds shall be used for the general expenses of such village.
SECTION 2. The principal of said bonds shall be made payable at such places and at such times as the council of said village may by ordinance determine; and the said council is hereby authorized to levy a tax not exceeding 2 mills on the dollar each year to pay the principal and interest of such bonds as they become due.
SECTION 3. Said bonds shall be issued in such sums as the council may determine by ordinance, and shall be signed by the mayor and countersigned by the clerk of said village, and they shall not be sold for less than par value.
SECTION 4. This act shall take effect from and after its
[House Bll No. 16.]
Section 1. Be it enacted by the General Assembly of the State of Ohio, That there is hereby appropriated from any money