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struction bf a service building and site improvements therefor; 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 Two Hundred <br />Thirty Thousand Dollars ($230,000.00) for the purpose of providing funds <br />for the construction of a service building and site improvements there- <br />for 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 Two Hundred Thirty Thousand Dollars <br />($230,000.00) for the purpose aforesaid. The Bonds shall be designated <br />"Service Building Bonds, Second Series"; shall be of the denomination of <br />Five Thousand Dollars ($5,000.00) each or any multiple thereof; shall be <br />dated approximately .7uly 1, 1981; shall bear interest at a rate now <br />estimated to be eight per centum ($%) per annum, payable semiannually <br />until the principal amount is paid; and shall be drawn to mature in <br />twenty-five (25) substantially equal annual installments after the <br />issuance thereof. <br />-2- <br />