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RESCLU'rIOTJ No. 170 By Mr. Hardmau AN MMGENCY RESOLU`rIQN DETERMINING T0 PliOCEED tiVITH THE ISSUTNG OF BONDS F"C,t. THE. PURl'QSE , OP .1:ROVID .Ni G.THE,:PILLAGS S? - - --STRU ..._._... CTING _ WAT . _ QF b2AYF IE L D_ ' POH.T -- IOId QF . f?- QF . THE C _ CONFR.,?49INS I1V CERT.AIN . ST_REETS IN _ THr 4 V2IL.AGE „QF XAXFIE LD ,]D T 0 SIIBmIT THE IS SUE T 0. THE . EIECT ORS AT _ TFiE NOVETdBER. 7, .19 5Q, GENF?t,AL ELECTTQN. WHEREAS;-this Gouncal oya the 17th day o-IL' July, 3950, duly a.dopted Resolution. No. 169 - 1950, providing £or the subm9.ssion to the oleotors of this Village at 'the Nov+amber ?, 1950, Genera7. Eleotion the quest3.on o£ the issuaace of bonds in the s-aa of 080s000v00 for the purpose of providzng the V'illage of Mayfield portson of the eost o£ constrzating water m'ains in oertain streets and roads in the V°illage of Ma.y#'aeld ax.td the lewjin,g of atax to provide for the paymseat thereo£; aad , VVHEREAS, a:Eter certa.ficata.on of a copy of said resolu.tion to him, tho Auditor of,Cuyahoga, Couni,y has oertified to this Council that by ha.s calcu:9..ata.on the avnra,go annual levSr thxoughout the lafe of such. bonds which wi11 be r3quired to pay the interes•t on and retire such bonds, a.ssum3ng that they are all issued in one series atid that the amowat of the tax dup3.ieate of sa3.d Village remains the sane throughou.t the J.3.f'e of said bonds as the aanount of the tax duplicate for the curren,t year, is 2.8202 mi1ls for each one'dollar of va7.vation, wbich amotnts to 280?02 ceuts for each one hundrecl do11. ars of va1.uati ou; axtd TMEREAS, the Couneil of th3s Vil? age desires to proceed vrith the issuauce of saia bonas a:nd ths subma.ssioiz of sa;i.d issue to the elec'uors. N6Vd, THMEFORE* HE IT RESQLVED BY THE CQUNCIL QF TTHE V2-iI,AGE QF MAYI°TELD, CUYIHQGA_ QOUNTY,, _ OU.10; _ _ - - • , - Sec. 1. That tYiis CouneiZ proceea with the issusnce of bonds for the pux°pose of.provic33.ng the Vil3age of MaSrf°ield portion of the cost of constructirig water maans on, e'ex lvain stxeets snd roads in tha Village of Mayfield in the amount of $80,,000.00, dated approAmately June 1a 1951, payable in trrenty-fivo (25) approximately equal amual insta111nsnts of substantially equal mounts dur.i.zag the trienty-f5.ve (25) year pera.od a.f`ter the authora.za.tiou thereof ezd beariug itaterest now estamated a,t 2-1/2 percent per amun, payable semri.-atal2ualiy. Sec. 2, The Clerk is heroby directed to cextif'y to the Board of Electi.ons of Cuyahoga Cownty a aopy of Resolut3on No. 169- 1950, a cogy of this Resoluta.offi,, together 'Vu?.th the County Auditor's Certiz'ication of the average tax 1evy, to-?,vit: 2*8202 an3.lls for each one dollax of FBlti&t1.0218 which amout;'Ls to 28.202 cents for eaoh one hwzdred do3JLars of val.uation,