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ORDINANCE No. I.~lr2 By Mrs. Cass AN EMERGENCY ORDINANCE TO PROVIDE FOR THE ISSUE OF BONDS IN ANTICIPATIOTd OF TF~E _ COLLECTION OF SPECIAL ASSESSMENTS FOR THE II~'ROVEMENTS HEREIN- NAD~D. VVI-iEREAS, this Council has requested the Village Clerk to issue her certificate as to the estimated life of the improvements constructed in Wilson T~i.1.ls Road and S.O.H. Center Road, the property owners portion of said costeto be discharged from the proceeds of the bonds hereinafter .referred to, and as to the maw mum maturity of such bonds, and the Clerk has certified to this Council such estimated life as exceeding ten years, and has further certified the maximum maturity of said bonds as forty years; and VVHER•E,AS, this Council estimates that a tax for said bonds will appear upon the duplicate for the tax year 1953 and the final tax. settlement with the County Treasurer next following the inclusion of the tax for this issue of bonds in the annual budget by the County Auditor, as required by law, will be obtained not later than November 1, 1951; and 1~~IERTAS, a note of this Village has been issued and sold in anticipation of the issuance of the bonds hereinafter referred to and is about to fall due; NOW, THEREFORE, BE IT ORTIAINED BY THE COUIdCIZ OF THE VILLAGE OF HAYFIELD, STATE OF OHIO:. .. Sec. lm That to provide a fund for the payment of the cost and expense in anticipation of the collection of special assessments herein levied for the improvement of 1~'Tilson Hills Road from the west corporation line of Hayfield Village to the west line of Echo Drive by the construction therein of a water main and appurtenances, a,nd the improvement of S.O.H. Center Road from the center line of Wilson I~ti.lls Road northerly to the north line of the Board of Education property by the construction therein of a water main and appurtenances and to cover the remainder of the property owners portion of the cost of said improvements, in accordance with Resolution Noe 181 51 adopted January 299 1951 and Resolution No. 182-51 adopted January 29, 19519 it is necessary to issue and sell bonds of the Village of Mayfield in the stun of X106,373.22, which amount includes an amount estimated to be sufficient to pay the interest thereon until the proceeds of said assessments are available. Sec. 2. That said bonds shall be numbered 1 to 107 inclusive, shall be dated~une I, 1953, shall bear interest at 3~~ per annum payable semi annua]1y on the first days of December and June of each year, shall. be of the denomination of ~~`1,000.00, except Bond No. 1, which shall be of the denomination of ~~373.22, and shall mature as follows, which maturities are hereby determined to be in substantially equal annual. installments, to wit X10,373.22 on December 1, 1951.x; X10,000.00 on the first day of December in each. of the years 1955 to 1957 inclusive, and ~R11,000®00 on December 1 in each of the years 1958 to 1963 inclusive,