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Ordinance No. 393 By Mr, IIell AN EMERGENCY ORDINANCE 1'SOVIDING FOIL THE ISStTANCE OF BONDS OF THE VILLAGE QF MAYF~LD, . tSIO,• .,PAR.. THE . DOSE • OF _ _ FROVIDING_ THE .VILLAGE _ OF:-HAYFIELD •3?ORTIODT OF THE COST OF C4NSTRUCTION:,OF.WATER GAINS IN WIISON.I~ILIS ROAD, S.O.M. CENTER ROAD .aND HI~HI,AITD ROAD IN', MAYFIELD_ VILLAGE. BE IT ORDAINED BY THE COUDTCIL OF THE VILLAGE OF HAYFIELD, CIIYAgOGA COUNTY, ~iIOz S®c. 1. - This Council finds that pursaaiat to ..resolutions heretofore adopted by this Council of Hayf3.eld Village, Cuyahoga County, Ohio, that an election roses held on the 7th day of November, _1950, on the proposition of issuing bonds of the Village of .Mayfield. fvr the purpose of providing a portion of the cost os' eonstxueting roQater mains in Certain roads and streets in the Village of Mayfield, in the sum of X80,000.00 and of 1®v~.ng taxes outside oP the ten mill limitation to pay the interest and priacipal of such bonds, th® requisite majority of those noting on the, proposition voted in favor thereof; and that the Clerk has certified the estimated life of the improvements proposed to b® constructed and acquired from the proceeds of the bonds h®reinafter referr®d to •as exoeeding ten.. years., ,and has further certified the maximum maturity of such bonds as forty (40j years. Sec. 2. It is a®emea n®cessary t,o issue ana there s~iall be issued and sold bonds of the Village of Mayfield in the principal sum of X80,000.00 in order to provide a fund for .the purpose abo~ mentioned, and it .is hereby determined that said bonds shall be issued in :instalLaents. The amount of bonds proposed presently to ba issued. shall be ~40i000.00, which is Series A of such bonds and they shall be designated "Wet®r Main Bonds 1951, Village _ portion, Series A" and shall be issued for the followa.ng purpose: Constructing the Village of Magfi®ld portioY~ of the cost of water mains in Wilson 1-4i.lls Road from .the west corporation line of Mayfield Village to Soho Drive;,, S.O.M. Canter Road fra~n. Wilson Mills•Road to the north line of the Hayfield Board ~of Education property in Mayfield Village; S.O.M. Center Road from Wilson Hi11s Road to. the south corporation li~e•-of_Mayfield~Villag®;_ S.O.M._ Center Road from the north line of the Board of Eduoatiot~ property in ~ay:E~.eld ga.llage to the .north corporation line of Mayfield Village.; Highl~xtd Road from S.O.H. 'Center Road to the rovest corporation line of Mayfield Vi 11 age X40, 000.00 • , Notes shall no-~ be issued in antic5.pation of the issuanc® of said Series A Bonds, See. 3, '$aid Water Main Bonds of 1951, ,Series A, Village portion shall be issued its the principal awn of ~40i000,00 for the purpose of constructing the Village of Mayfield portion of the cost of cox~stxucting water mains in the roads as provided in Svetiox~ 2 herein. Eaeh of said bonds shall bo in the denomination of ~1~000.00, shall be d~.ted January 1, 1952, and shaL1. bear