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Ordinexace No. 383 <br />Page ~3 - <br />Sea. ?. Said note shall be the full general obligation of the <br />Villagefaxad the fall faith, oredit and revenue of said Village are hereby <br />pledg®d. 'for the prompt pe~yment of the setae, The pear value to be received <br />frost the sale of -the bonds anticipated by said note and stay a ices s fund <br />resulting free the issuatace of said note shall, to the extent tecessary, <br />b® used only for the retir~aent of said note at tnatur3.ty, together v~ith <br />interest thereon, axed is hereby pledged for shah purpose. <br />See. 8. During the period Rh3.1e such Mote runs there shall b® leviod <br />on all the taxable property in the Villag® of Mayfield, in addition to all <br />other direct t~aes,- a direst tax annually not less than that vrhich would <br />have been leviod if bonds had been issued xithout the pr3.or issue of such tact®. <br />Said tax shall be atad is hereby ordered oanputed, certified, leeied and <br />extended upon the tax duplicate and oollect®d by the same offio®re and in <br />the sam~a meaner and at the same time that taxes for general purposes for <br />each of said yeaxs are certified, extended and collootod. Said tea shall <br />be placed b®fore and in preference to all other items and for the fa11 <br />~mtoutat ther®of. The funds derS.ved f real such tea levies hereby required <br />shall be placed in a separate and diatinot fund, vrhich, together with the <br />interest collected on the same, shall b® irrevocably pledged for the <br />payment of the principal and interest oP said note, or the boxads in <br />antioipation of which they are issued xhen axed as the same fall due. <br />Sec. 9. The Village Clerk is hereby directed' to foravard a <br />oertified Dopy of this Qrdinsnee to the County guditor of Cuyahoga Coutaty, <br />Ohl. o. - _ <br />Sea. 1C• This ordinanoe is-deemed to be axe setergency m®esure <br />gecessary for the preservation of the pease, health and safety of the <br />eitisens of Mayfield Village in that it is necessary to acquire fends for. <br />the making of the improveiments h®rein set forth, whicYs are v.~tai to the well <br />being of the citizens of Mayfield Village, and it shall take effect frame <br />and after its passage, as an emergency measure. <br />passed .August 20, 19b1• <br />Attest: <br />Mayor <br />Clerk <br />