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RESQLUTION N0. 135 <br />HY MR. FRa?47. <br />A RESOLUTI?tN TO PRf}VIDE FQR THE LEVYING OF ki3DITI4?N? TAXES <br />FOR ?THE P.AY'Nm.VT CkF DEFAULTED SPECIAL.A.SSESS}lENT BONDS QF TFiE VILLAGE. <br />V9Ti?REAS; the Village of Mayfield has heretofare issued $38,000.00 of <br />ita bends in :anticiga.tian of the collection of speci•a1<assessments of certain <br />af the rea.l estate located in the VilI:age of MayfieZd, :and <br />WHEREAS, by reason of the failure of ta.xuayers to make their payments <br />of taxes and :assessments when :and :as dne, it has been impQSSible far the ViLtage <br />of Mayfield to meet the principal payments on said bonds.as the same maturet :and <br />17HEREdS., this Coun.ciT is mindful of its duty to the bcsndholders to <br />prvvicle funds td meet the princigal retirement requirements of said bands,and <br />WHEREAS, the Supreme Court of OhS.o-in 'the case of State, ex rel. Bruml <br />vs. Village of Broaklyn9 et.aZe, 126 O.S. 453, has held that a.municipaYity <br />must Ievy sufficient ta.xes vuithin the 15 mill. Iimita.tion t6 grvvide for the <br />intex°est and Larinciga:L payment requirements of speci_al. .assesament bands' .and <br />1'9iEREAS, this Council feels that it wiLL be necessa.xy ta Ievy 2 mill.s <br />over and abave the 10 miU limita.tian set by the Constitutian of the State of <br />Ohio on all of, the taXable rea.T property Zocated ?rithin the ViL1:age of Ntayf3.eld, <br />in order tcx proride funds-sufficient to meet the grincigal.and interest reuuire- <br />ments of said speeial,assessment bands, <br />p <br />NOVi, THEREFORE, BE IT RESOLVED by the Council of the Vi3T-age of <br />Mayfield, Cuarahaga Cuunty, Ohia, that: <br />Section 1. The Cettunty Budget Cammission be9:and it hereby is, re- <br />quested tcr Ievy an aLt af the t:axable reat estate lcrcated vrithin the VilI-age <br />of MayfieTd.ad valorem taxes ;at the rate of 2 mi77s in excess of the 10 mill <br />li.mitatian created by the Constitution of the State of E2hio9 vlith respect to <br />taxes tct be evLected for the year 1945. <br />Sectivn 2. It is hereby determined that:an monegs received 1oy <br />reason of such 2 milIs tax, sha.Il be apglieci to the payment of the princigal <br />:and interest requirements Esn the sgecial:assessment bonds heretafare issuerl by <br />the ViTZage of Nlayfiel.de <br />Section 3. The QiIlage Clerk be,..and she hereby is9 autharized.and <br />directed to certify a copy of this ResaTutian to the CErunty Budget Commissiono <br />Section 4. This Resolution sYialZ take effect :and be in farce frcgm <br />:and after the earliest period:aLtowed by Z?awe , <br />Passed the I8th day of September, A. D., 1944. <br />Mayox - President of Cauncilo <br />9ttestr <br />EL? (?. &1? <br />(SEAI,) CTerk.