Ordinance 1439 - Laserfiche WebLink

days after the date of the first publication of the treasurer's notice referred to in Section 5 of this ordinance, the city treas- urer shall report to the city clerk the total amount of the assess ment, the total amount paid to him to redeem the lots , tracts , par- cels of land, or other property, from the assessment levied thereon, and the total amount unpaid on such assessment, whereupon the mayor and clerk shall issue the bonds on the local improvement district established by the ordinance providing for such improvement in an amount equal to the amount remaining unpaid on said assessment roll, as shown by such report. The bonds herein provided for shall not be issued prior to tti°Jenty days after the expiration of the thirty days above mentioned. - Such bonds shall be in denomination of One Hundred ( loo) Dollars each as far as practicable, provided that the city council may in the ordinance confirming the assessment roll designate any different denomination for such bonds. Such bonds shall be numbered from one (1) upwards consecutively, and each bond and coupon shall be signed by the mayor and attested by the city clerk; provided, however, that said coupons , instead of being so signed, have printed thereon the fac simile of the signatures of said officers, and each bond shall have the seal of the city impress- ed thereon, and shall refer to the improvement to pay for which the same shall be issued, and to the ordinance ordering the same. Sec. 7: IMIT OF BONDS - INTEREST: Such bonds by their rms shall be made payable on or before a date not to exceed ten years from and after the date of the issuance of such bonds , which latter date may be fixed by resolution or may be fixed by the ordinance confirming the assessment roll. Such bonds may bear interest as may be provided by the ordinance ordering the improvement, not exceeding eight per cent per annum, payable as provided in said ordinance, and eac h bond shall have attached thereto interest coupons for each interest payment. Sec. 8 : FORM OF BONDS: Lll bonds issued in pursuance of the provisions of this ordinance shall be in substantially the following form: