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t,7HEREAS, pursuant to said Ordinanee No. 704, passed May 16, 1960,
<br />levying special assessments in tne amount of $12,838.38, to provide a fund
<br />for the payment of principal and interest of said bonds to be issued in
<br />anticipation of the collection of special assessments for the improvement
<br />of Bonnieview Road in the Village of Maffield, Ohio, from S.O.M. Center
<br />Road in an Easterly direction to the Westerly line of Beech Hill Road, by
<br />gradino, ditching, and paving with asphaltic materials, and to cover the
<br />remainder of the property ocaners; portion of the cost of said improvement,
<br />the Clerk of the Village of Mayf ield has certified that special assessments
<br />in the aggregate amount of $1059045 have been paid in cash during the
<br />period provided by law for said improvements.
<br />NOW THEREFORE BE IT OtZDAINEll BY THE COUNCIL OF THE VILIIAG-7 OF 24AYFIELD,
<br />CUYAHOGA COUNTY OHIO:
<br />' Sec. 1. That to provide a fund for the payment of the cost and
<br />expense in anticipation of the collection of special assessments herein
<br />, levied for the improvement by grading, ditching, and paving with asphaltic
<br />? materials of Seneca Road'in the Village of Navfield, Ohio, from S.O.M.
<br />Center Road in an Easterly direction to the Westerly line of Beech Hill
<br />Road and to cover the remainder of the property owners' portion of the cost of
<br />' said improvement, in accordance with Ordinance:No. 702, passed May 16, 1960,
<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
<br />of Glenview Road_in the Village of May£ield, Ohio, from S.O.M. Center Road
<br />in an Easterly direction to the T.Jesterly line of Beech Hill Road, by grading,
<br />'. , ditching and paving with asphaltic-materials, and to cover the remainder of
<br />the property owners' portion of the cost of said improvement, in accordance
<br />with Ordinance No. 703, passed riajr 16, 1960, and to provide a fund for the
<br />payment of the cost and expense in anticipation oE the collection of special
<br />assessments herein levied for the improvement of Bonnieview Road in the
<br />, Village of Mayfield, Ohio, from S.O.M. Center Road in an Easterly direction
<br />to the Westerly line of Beech Hill Road, by grading, ditching and paving
<br />with asphaltic materials, and to eover the ramainder of the property oimers'
<br />portion of the cost of said improvement, in accordance with Ordinance No. 704,
<br />passed riay 16, 1960, it is necessary to issue and sell special assessment
<br />bonds of the Village of NYayf ield, Ohio, in tne sum of $31,750.00, which
<br />amount includes an amount estimated to be suff icient to.pay the interest on
<br />? said bonds until tne f irst collection of the assessments anticipated by
<br />these bonds is received.
<br />Sec. 2o That said bonds shall be numbered 1 to 32, inclusive,
<br />shall be dated August 1, 1960, and shall bear interest at the•rate of 3-3/4%
<br />per,annum, payable semi-annually, on the f irst days of June and December
<br />of each year, beginning December lst, 1960, shall be of the denomination of
<br />$1,000.00 each, except that Bond No. 1 shall be in the amount of $750.00,
<br />and shall mature as folloxas, which maturities are hereby determined to be
<br />substantially equal annual installments,.to-wits
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