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. RESOLUTION NO.: 82- 26 <br />INTRODUCED BY: Mayor & Council as a Whole <br />A RESOLUTION TO PROVIDE FOR THE AWARD OF AN <br />ISSUE OF $26,300 BETA DRIVE SIDEWALK CONSTRUCTION <br />BONDS, AND DECLARING AN EMERGENCY. <br />WHEREAS, after notice duly published as required by law, bids have <br />been received for the purchase of an issue of $26,300 Beta Drive Sidewalk <br />Construction Bonds, which have been duly authorized by Council; and <br />WHEREAS, it has been determined that the bid of 26,300 <br />of Magnus & Co. <br />for said bonds with a premium of $ 15.50 and to bear an interest <br />rate of 11 3/8 per centum per annum is the highest bid <br />for such bonds based upon the lowest rate of interest; <br />NOW, THEREFORE, BE IT RESOLVED by the Council of Mayfield Village, <br />Cuyahoga County, Ohio: <br />Section 1. That the aforesaid $26,300 Beta Drive Sidewalk Construction <br />Bonds of this Village be and they are hereby awarded and sold to Magnus & Co. <br />, said bonds to bear interest at the rate <br />of 11 3f8 per centum per annum, with a premium of <br />$ 15.50 <br />Section 2. That said bonds, after being duly executed, shall be delivered, <br />together with a true transcript of proceedings, by the Finance Director to said <br />purchaser upon payment of the par value thereof plus the aforesaid premium and <br />accrued interest to the date of delivery. <br />Section 3. That the Clerk of Council is hereby authorized and directed <br />to deliver a certified copy of this resolution to the Auditor of Cuyahoga County. <br />Section 4. It is found and determined that all formal actions of this <br />Council concerning and relating to the adoption of this resolution were adopted <br />in an open meeting of this Council, and that all deliberations of this Council <br />and of any of its committees that resulted in such formal action, were in meetings <br />open to the public, in compliance with all legal requirements including Section <br />121.22 of the Ohio Revised Code. <br />Section 5. This resolution i,s hereby declared to be an emergency <br />measure necessary for the immediate preservation of the public peace, health <br />and safety of the Village and for the further reason that this resolution must