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"t~tiET3EAS, pursuant ~to said Ordinance Nom 563, passed November 26, 19569
<br />levying special assessments in the amount of X15,010,00 to prov~.de a fund for
<br />the payment of principal and interest of said,.bonds to be issued in anticipation
<br />of the collection of special assessments for the improvement of Glenview Road
<br />in the Village of N-ayfield, Ohio, from SOM Center Road in an Easterly direction
<br />to the T~esterly line of Beech Iii~1, Road, by the construction of a water main
<br />therein-pared to cover the. remainder of the property ownerst portion of the cost
<br />of said improvement, the Clerk of .the Vi17.age of Mayfield has certified that
<br />special assessments in the aggregate amount of X2858®~.9 have been paid in
<br />cash during the period provided by law on said improvement;
<br />N0~'~ THEREFORE BE IT ORDAINED BY THE COUNCIL OF THE VILL~.GE OF HAYFIELD,
<br />CUYAHOGA COJNTY_4HIOs. .. _ .. - _ .. _ __ _ ... _--- - ......_-- _-
<br />_.....e ._ ._
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<br />Secs l® Thatfto provide a fund for the payment-of the cost and expense
<br />in anticipation. of the collection of special assessments herein levied fo~°
<br />the improvement of Highland Road in the Village ,of Mayfield, Ohio, from the
<br />firTesterly line of the Village_.of Hayfield__in an Easterly direction -to the
<br />Westerly line of SOI1 Center Road, by the construction of a-water main and
<br />appurtenances and to cover the remainder of the property owners' portion
<br />of the cost of said improvement, in accordance with Resolution Noe 282,
<br />adopted Hay 16, 1955, anal to provide a funet for the payment of the cost
<br />and expense in anticipation of the eol.lecton of special assessments herein.
<br />levied for the improvement of SOM Center Road, in the Village~of Mayfield,
<br />from the Northerly line of Highland Road,_ in a Northerly direction 2l~00
<br />feet, by the construction therein of •a water main and appurtenances., and to
<br />cover the remainder of the property owners' portion of the cost of said
<br />improvement, in accordance with Resolution~.Noo 291, adopted July 18, 1955,
<br />and to provide a fund for the payment of the cost and expense in anticipation
<br />of the collection of special assessments herein levied. for the improvement-of
<br />Glenview Road, ~ the.Village of Hayfield, from SOH Center Road in an Easterly
<br />direction„to the Westerly line of_ Beech Hill Road, by' t he construction ,therein
<br />of a water main and appurtenances and. to.•cover the remainder of the property
<br />oUmers' portion of the co"st of said impr®vement, in accordance ~iith Resolution
<br />Noo 317, adopted December 199 19559 it is necessary to issue and sell special
<br />assessment bonds of the Visage of Mayfield, Ohio, in the sum of l~la.,550,00
<br />which amount includes an__amount estimated to be sufficient to pay, the interest
<br />on said bonds, until the first collection of the assessments anticipated by
<br />these bonds is received.
<br />sec. 2~ That said bonds shall be numbered 1 to 45 inclusive, shall
<br />be dated.-February l9 1957, and sha7~. bear interest at the rate of 5~ per
<br />anmun, payable semi-arnaual~y on the lst days of June and December of each
<br />year, beginning June 1st, 19579 shall be of the. denomination of X1,000.00 ~~
<br />each, except that bond Nob 1 shall be in the amount-of ~~550.00, and shall \
<br />mature as follows,. which maturities are hereby determined to be substantially \
<br />equal annual insta].7.ments, to yTit a And shall. mature, as follotiis:
<br />~~550®00 on December~lst, 1958
<br />X5000.00 on the 1st day of-December in each. of the
<br />years 19599~to 1962, both inclusive,
<br />~1~000o00 on the 1st day of December in each of the
<br />years 1963 to 1967, both inclusive
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