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RESOLUTIUN NOa 131 <br />Bl ll • <br />A t`ESOLUTI0N TO PROV3DE FOR THE LEVYING UF ADDITIONAL TAXES <br />FOR lHE PAYPvMNT OF DEI'AULTED SPECIAL .ASSESSPjENT BOTiDS OF THE VILLAGE <br />Z=EREAS9 the Village of Mayfield has heretofore issued U38s000v00 of <br />its bonds in an.ticipation of the collection of sveciaI assessmentis of certain <br />of the real estate l.ocated in the VilZage o#' Mayfield9 and <br />WHEF,EkSs by reason of the failure of taxpayers to make their payments <br />of taxes and assessments tivhen and as due, it has been impossible for the `Uillage <br />of Mayfield to meet the pra.ncipal paynents mn said bonds as the sa.me mature9 and <br />MEF,EkS, this Counca.l is nia.ndlul of its daty ta the bondllolders to <br />provide funds to meet tne principal retix°ement requirements of sa.id bonds' and <br />t?MUREEAS, the Supreme Court of Ohio in the case of State, ex relo Bruml <br />vs 6 Vi71age of Brooltl.yn, et aI m, 126 0 o S o 459, has held that a musiicipality <br />must levy su.fficient taxes yrithiiz °the 15 mJ.71 Iimitation to -orovide for the <br />in'terest and principal payment requ:Lrements of speciaZ.assessment bonds, and <br />71HEREAS, this Counca.l feels th.at it will be necessary to lev-j 2i mills <br />over and apove the 10 miIl li?ni.-tation set by the Constitution of the. State of <br />Ghio on aIl oi the taxabZe real property located withi.n the Village oi Pllayfield, <br />in order ta provide funds sufficient to meet the princzpal and interest require- <br />raents of said special assessment bonds; <br />NOVJ9 THEREFORr, BE IT RESOLVED by the Council of the Village of <br />1,'{-i. <br />V?ayfieldy Cuyahoga County, OY1109 LYle <br />Section l. The.County t3udget Commission be9 and it hereby is reUuested <br />to levy on all-of the taxable real estate locRted within the Village of Mayfield <br />ad vaIorem taxes at the rate of 22 ma.Ls in excess of the 10 miZl limitation <br />created by the Constatution of the State of Qhio9 ZRith respect to taxes to be <br />collected fos° the year 1943. <br />Section 2. Tt is hex°eby deterinizied tha.t all moneys received by reason <br />of such 2z mi31s tax' shall be applied to the payment of the principal ancl interest <br />reguirements on the speciaZ assessment bonds heretofore issued by the Village of <br />Mayfieldo <br />Sec$3on 3. The Village Clerk be, and she hereby is, authorized and <br />airectea to certify a copy of this ResoZution to the County Budget Commissiono <br />Section 4. This Resolution shaIl take effect and be in force frorn and <br />after the earliest period aalowed b.y lawm <br />Passed the,19th day oi 3uly, A. D. 1943m ? <br />!!: ??: ?L <br />Attests tMayor - President of Cou.nci3. <br />r <br />( CZerk.