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necessary to permit the Village immediately to undertake said repaving <br />and reditching which is necessary to provide means of safe travel within <br />the Village; now, 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 />One Thousand Five Hundred Dollars ($101,500.00) for the purpose of pro- <br />viding funds for paying the property owners' portion of the cost of <br />repaving and reditching Echo Drive in the amount of Ninety Eight Thousand <br />Dollars ($98,000.00) in anticipation of the collection of special assess- <br />ments, and the Village's portion of the cost of said repaving and reditching <br />in the amount of Three Thousand Five Hundred Dollars ($3,500.00) as <br />provided in Resolution 79-52, adopted August 6, 1979. <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, Ohio and the <br />Codified Ordinances of Mayfield Village, Ohio, 1979, as amended, in the <br />aggregate principal amount of One Hundred One Thousand Five Hundred <br />Dollars ($101,500.00) for the purpose aforesaid. The Bonds shall be <br />designated "Echo Drive Special Assessment Bonds"; shall be of the denomi- <br />nation of Five Hundred Dollars ($500.00) each or any multiple thereof; <br />shall be dated approximately April 1, 1981; shall bear interest at a <br />-2- <br /> <br />