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R,ESOLUTTOAT No. 125 <br />BY MRS. P4RK6_J;k <br />A RESOLUTIQN TO PFiOVIDE FOR 1HE LEVYING OF ADDITI0NAL TAXES FaR <br />THE PAYiVIENT Or' DEFAULTED SPECIAL ASSESSIVIENT BONDS OF THE 57ILLAGE <br />VTHEREAS, the Village oi May#'ieZd has heretofore issued $38,000.00 of its <br />bonds in anticipation of the collection of special assessments on certain oi the real <br />es-tate Iocated in the ViLlage of Mayfield, and <br />VdHEREAS' by reason of the failure of ta.xpayers to malte their payments of <br />taxes and assessments when and as due, it has been impossible for the Village of <br />Mayfield to meet the principaT paymen-ts on said bonds as the same mature, an.d <br />Y1HEREAS, this Council is mindfu.Z of its duty to the bondhoZders to provide <br />fund_s to meet the principal retirement requirements of said bonds, and <br />NHEREAS, the Supreme Court of E1ha.o in the case of State, ex relo Brum1 vs. <br />Village of BrookTyn, et al.' 126 Om S. 459, has held that a municipaZity must Ievy <br />suff icient taxes vTithin the 15 mil":L Iimi-tation -to provide for the interest and prin- <br />cipaZ payment requirements of .speciaT assessmeni; bonds, and <br />1`uHEIREA,S2 this Cotulcil feels that it yrill be necessary to Zevy 22 mills <br />over and above the 10 mill I.imitation set by the Constitution of the State of Ohio on <br />aII of the taxable reaZ property Zocated within the-Village of P1[ayfield, in order to <br />provide funds sufficient to meet the principal and interest requirements of said <br />special assessment bonds; <br />NOZAT, THER.EFORE, BE IT RESOLVED by the Council of the ViI? age oi May'field, <br />Cuyahoga County9 Ohio' that: <br />Sectian ls The County Budget Commission be, and it hereby is requested to <br />levy on aIl of the taxabTe rea.Z estate Tocated ?rrithin the Vi-Zlage of Ufayf ie1d. ad valorem <br />taxes at the rate of 22 mil:Ls in excess of the 10 mi3l Iimitation createrl by the Con- <br />stitution of the State of Ohio, zv-i.th respect to taxes to be collected for the year 1941. <br />:Section 2. It is hereby determined that a1Z moneys received by reason of <br />such 22 mi71s tax, sha71 be appLi.ed to the payment of the principal and interest require- <br />ments on -the special assessment bonds heretofore issued by the Village of Niayfield. <br />Section 3e The Village Clerk be, a,n.d she hereby is, authorized and directed <br />to certify a copy of this Resolution to the County Budget Commission. <br />Section 4. This R.esolution shall take effect and be in force from and after <br />the earliest period al.Towed by Iaw. <br />re <br />Passed the day of August, A. D. I941. <br />Mayor - President of Council. <br />4tteste