1980 031 Ordinance - Laserfiche WebLink

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Whereas, this Ordinance constitutes an emergency measure necessary for the preservation of the public peace, health and safety of the Village and its inhabitants in that the immediate issuance and sale of the note herein authorized is necessary to permit the Village immedi- ately to undertake said repaving and reditching which is necessary to provide means of safe travel within the Village; now, therefore, BE IT ORDAINED BY THE COUNCIL OF THE VILLAGE OF HAYFIELD VILLAGE, STATE OF OHIO: Section 1. That it is deemed necessary to issue bonds (the "Bonds") of the Village in the aggregate principal amount of Four Thou- sand Five 'Hundred Dollars ($4,500.00) for the purpose of providing funds for paying the Village's portion of the cost of repaving and reditching Echo Drive in-the amount of Four Thousand. Five Hundred Dollars ($4,500.00) as provided in Resolution 79-52, adopted August 6, 1979. Section 2. That the Bonds shall be issued pursuant to the provisions of the Constitution of the State of Ohio, the laws of the State of Ohio, including, without limitation, Chapter 133 of the Revised Code of the State of Ohio, the Charter of Mayfield Village, Ohio and the Codified Ordinances of Mayfield Village, Ohio, 1979, as amended, in the aggregate principal amount of Four Thousand Five Hundred Dollars ($4,500.00) for the purpose aforesaid. The Bonds. shall be designated "Echo Drive Repaving and Reditching Bonds"; shall be of the denomination of One Hundred Dollars ($100.00) each or any multiple thereof; shall be dated approximately May 1, 1981; shall bear interest at a rate now estimated -2-