Laserfiche WebLink
maturity of said bonds is nine (9) years and that the maximum maturity <br />of notes issued in anticipation thereof is five (5) years from the date <br />of issuance of the original notes issued for such purpose; provided, <br />however, that if -said notes are sold at private sale, then their maximum <br />maturity may not exceed one (1) year; and <br />Whereas, this Ordinance constitutes an emergency measure <br />necessary for the preservation of the public peace, health and safety of <br />the Village of Mayfield Village (the "Village") and its inhabitants in <br />that 'the immediate issuance and sale of the notes herein authorized is <br />necessary to pay and renew a portion of the outstanding note; now, <br />therefore, <br />BE IT ORDAINED BY THE COUNCIL OF THE VILLAGE~OF HAYFIELD <br />VILLAGE, STATE OF OHIO: <br />Section 1. That it is deemed necessary to issue bonds (the <br />"Bonds") of the Village in the aggregate principal .amount of One Hundred <br />Thousand Dollars ($100,000.00) for the purpose of providing funds for <br />the property owner's portion of the cost of repaving and reditching Echo <br />Drive and the payment of such expenses as are lawfully incurred and <br />payable in connection with the issuance and sale of the Bonds for such <br />purpose. <br />Section 2. That the Bonds shall be issued pursuant to the <br />provisions of the Constitution of the State of Ohio, the laws of the <br />State of Ohio,, including, without limitation, Chapter 133 of the Revised <br />Code of the State of Ohio ,. the Charter of Mayfield Village and the <br />Codified Ordinances of Mayfield Village, Ohio, 1979, as amended, in the <br />aggregate principal amount of One Hundred Thousand Dollars ($100,000.00) <br />-2- <br />