1934 089 Resolution - Laserfiche WebLink

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RESOLII'T'TON No. 89 BY N1Re VtIILLISs A RESOI,UTION 'PERNIIIVATING 'I'HE AUTHORITY OF THE UNIUN TRUST CUNLNANY T0 ACT ON TL-rE BEH.ALF uF MAYFIEI,D VZLLAGE kS YAYING kUENT OF 1ViAYFlELD TOVINSHIr BONDS. WHEREAS' The Union Trust Company of Cleveland., Ohio' is the desig- nated paying agency for Mayfield. Township bonds, and VaHEHEAS, saic7 The Union Trus t Company nonr being in I.iquidation, desires to terminate such agency and the trust i.n connection thereivith, and 6huHERLAS, all of the outstantiing bonds of Mayiield Tovonship have matured and have been retired with the exception of Bond No. 30, which was due October 19 19292 and with the exception of four (4) coupons of such bond, which bond and coupons have never been presented for payment, and 6NHEREAS2 the amount of money in possession of The Union Trust Com- pany in said trust is One Thousand One Hundred Tzventy-five and 68/100 Dollars (012125.68)' of which the sU.m of Four Hundred Thirty and 43/100 Dollars (0430.43) is free funds and is a.vail.able for distribution and the sum of Si.x Huntlred Ninety- five and P-51100 Dollars ($695025) is impounded funds and is not now available for distribution., and WHERE9S, it is the understanding of this Council that the interests of the vasious villages in said funds are represented by the follovi-i.ng table' to wi.t:- ' Ra.te Available Impounderl itlayfield .I06564 $ 45.87 ? 74.09 HighZand Heights oI29651 55,81 90.14 Gates Nfills ,440082 189.42 305e97 Lyndhurst .089688 38.60 62.35 Mayfield Heights .234015 1C1Q.73 162.70 1.0000E100 $430.43 $695.25 and WHEREAS, it is the desire of the Council of the Village of Mayfielrl that such agency and trust be terminated and that The Union Trust Company be instructed to return to this village the proportionate share contributed by the Village of Mayfield of the free and impounded funcis now in its possession under ,said trust. NOW, THEREFOR.E' BE IT RESOLVED by the Council of the Village of Mayfield, Cuyahoga County, Ohio, Thatt- Section l. The agency of The Union Trust Company for the Tlillage of Nayfield. in the matter of the payment of the bonds of Mayfield Township be., a.nd the same hereby is9 terminated. Section 2s The Union Trust Compa.r?y and I. J. Fulton, Superi.ntendent of Banks of the State of Ohio i.n charge of the liquzdation of The Union Trust