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Ordinance No. 517
<br />By Mra. Taylor
<br />AN EMERGENCY ORDINAr?CE PROVIDING FOR THE ISSUANCE OF
<br />BOI~1 S QE' THE VILLt~GE OF I~1l1YFIELD, .OHIO, FQR THE PURPOSE
<br />OF' PROVIDING THE. VILLAGE PORTION ~'. THE COST. OF CON.
<br />STRUCTION ~' WATER.IvIAINS IN SOM CENTER RQAD, HIGIiL.9~?D
<br />RCl4D, . Z~ILSON MILLS ROAD, RIDGEBURY BOULEVARD, . L.ANDER .
<br />ROAD AND_.~~IITE . RQAD IN -THE -VILLAGE OF N1A.YFIELD, .OHIO.
<br />BE IT ORDAINED BY THE COUNCIL Cfr THE VILT,~GE QE' HAYFIELD, CUYAHOC~,. COUNTY
<br />OHIO, THATs _ _ .:.. ~ - -- - -
<br />Secs l® This Council finds that, pursuant to resolutions heretofore
<br />adopted by .tie Council. of the Vi7.lage of Mayfield, Cuyahoga County, Ohio,
<br />an election was_held on the 7th day of November, 1950, on the proposition
<br />of issuing bonds of said vi.ll.age for the purpose of providing a portion
<br />of the cost of constructing ureter mains in certain roads and streets in
<br />the Village of Mayfield in the sum of ~p80,000.00 and of levying taxes
<br />outside of the ten mil7e limitation to pay the interest and principal of
<br />such bonds, the requisite majority of-those voting on the proposition
<br />voted in favor thereof; and that the Clerl: has certified the estimated
<br />13e of the improvements proposed to be constructed and acquired from
<br />the proceeds of the bonds hereinafter referred to as exceeding 5 years,
<br />and has forth®r Certified the max-.mum maturity of such bonds as 40 years
<br />Counci7.further finds that on the 72th day of August, 1952, bonds in the
<br />amount of ~I~O,OOOo00, dated January lst, 1952,,,_were issued and sold by the
<br />Village of. T'iayfield for the purposes hereinabove specified, leaving a
<br />balance of ~~.0,000.00 of such bonds still authorized to be issued by said
<br />election of-November 7th, 1950. -
<br />Seca 2.~,It is deemed'=necessa~°y to issue and there- sha71':be ,lssiied
<br />and sold .bonds of: -the V'i-Cage . °of ° Mayfield., Ohio in the amount of ` ~t~0~ OiD0;00,
<br />in order to provi.de:.a- fund for thepurposes .above mentioned, and it is hereby
<br />determined that the-°remainder::of saa.d~<voted bonds ~sha7:l`riow `~ 'issued: ``The
<br />amount of bonds-:proposed -presently` to°be issued is- ~1~0,00'0.00; ahi.ch sha7_1e
<br />be designated TMVi7.].age of Mayfield, Water Main Bonds 1955 vi.7.l.agePortion
<br />Series B~-, which is the ba7:ance` of~'the X80,000.00 of water main .bonds .
<br />authorized by the e]~ction:~ of •November Z9 1950; 'the first' of which bonds
<br />were issued August,.7:2th, ,7:952, and were kziown as r~u~at`er Main Bonds 1951
<br />Village Portion Series A,:'' Sand= ~borids •sha71 be 'issued. for'•the -following
<br />purpose:.- _ - ~ ..
<br />Paying the Village of Mayfield portion of the cost of
<br />constructing water mains i.n SOlu1 Center Road, from a point
<br />approximately 2257:; feed.` Nortli of the ceaiter line of Wilson
<br />Mills' Road; N®rtlerly to the North corporation line of the
<br />Village; HigYiland Road, from- the 1n7esterly line of the Vi7.ira.ge
<br />of Mayfield in an Easterly direction to SONI Center Road;
<br />Wilson Mills Road, .,from Echo Brive Easterly to the East
<br />corporation ]ane of 'the Village; and the entire portions
<br />of Ri.dgebury Boulevard, Lander Road, and ~~.te Road, which
<br />are-,situated in the Village of Mayfield; for ~a total of
<br />~1~0, 000 ®00A . .
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