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<br />REsaLUTzoN No. 145""9 <br />BY rv,x. S wA J so rJ <br />A RE50LUTTQN TQ PROVIDE r-OP, TH' LEVYING OF ADDT`PIOi1AL TC+.XES <br />F{3R TIiE Pr-VMIT OF DEF?ULTLD Si EGZAL hS: i;SSME1VT BGNDS OF TH111; VILLA.GE. <br />WHEREAS, the Vi.Ilage of Mayfield has heretofore issued $38,000a00 of its <br />bonds in.antieipation of thc- collec-Lion of sreeial assessmsnts of eertain of -tkie <br />real esta-ce l:ocatea_ in the Vitlage of Mayfield, :anc1 <br />:!fflE REASJ by reason of the f?.ilure a?' ?ta?a?'ers ?o make their payments of <br />-taxes and :assessments -ahen and a.s dae, it hus been imPas;ible f'or the Vi:Llage of <br />Mayfield to meet the T:riiZCipal payn.ents an scid bor_ds as th^ same mature., and <br />this Counc3.l is mind.f'ul of its duty to the bondholders tQ provide <br />f'unds t0 7neet the princip-:a retirement recuirements of said bonds, and <br />V,ri?:R??S, the Supreine Gr?urt of C?k?.?.o in thp case of St?,te, ex rel. Bx?aml vs. <br />Village of Brook7.yn, et :aI.9 126 O.S. 459, has he?d that a municipaIity must levy <br />sufficient taxes YY?thin t11e 15 mi11 Iimitatiion to prpvid.e for -the interest and <br />prineipal peyment requirements of special-assessment bonds, and <br />;oHEREE.S, this CGuncil feeIs that it wiII be necessary to levy 1-?16 mills <br />aver _and. -abave -the 10 miI?L limitation set by the Canstit?tion of the State of Ohio on all_ of the t'axabZe real pro-oerty 1ac:r.vted Wi.thin the Qil:l.Eige of Mayfield, <br />in order to pravide funds sufficient to meet the principaI .and. interest rea,uire- <br />ments of said s-p-Jecial assessment bands, <br />NJW, T_?it!;REFQ.rtE, }3E ZT hESULVED by the Council of the Vil"lage of Mayfield9 <br />Cu;yTahoga County, Ohio, that: <br />Sectian I. Tne County Budget Commission be, and it hereby is, requested <br />to levy on aLT of the taxa.b"i-e ra2Z estate located v=ithin u'r?e Vi?lage of Pt4ayiield <br />ad valorem taxes at the. ra-Ee of 1-t. miZls in eXcess of th?. 10 mzll Iiini tation <br />created by tn.e Constitution of the State of Olti.o, -ffith respect to ta.xes to be <br />collected for the year 1946. <br />Sectie?n 2. It is hereby detes?ninec?. th??.t wLl ?noneys receivee? by reasan of such I= mills ta:r_, shall be ag.-pIiea to the payment of the principal and interest <br />require;nents on the sDecial assessment bonds heretofore issued by the Village of' <br />Mayf'ield. <br />Section 3. The Village Clerk be,=and she heleb;yT is' autherized and <br />directad to certify a co?ay of this ResrZution tQ tize County Budget Gamniissiona <br />Sectian 4. This ReseIutian shall tiue ef Fect and be in farce fro?n •and <br />after the earZiest peT1.fld alZOFV'Bd by I3Fi's <br />Passed ihe 16th day of Dece?nper, A. D. 19460 <br />? <br />AZ luest; <br />?- <br />(,SEAL) Clerka <br />\" ( ? , <br />?? &a ?-UrUIACA <br />Mayor - Fresident of Council.