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~~ <br />RESOLUTION N0. 571. <br />By Mr. Bennett <br />A RESOLUTION DECLARING THE NECESSITY OF SUBMITTING TO THE <br />ELECTORS. OF THE VILLAGE. OF HAYFIELD, OHIO,,. AT.'1'HE NOVEMBER <br />5, 1963, GENERAL E?~ECTTON._THE QUESTION. OF ISSUING BONDS. FOR <br />THE PURPOSE OF PAYING, THE COST OF CONSTRUCTTNG.,AND.EQUIPPING <br />A NEW MUNICIPAL BUILDING TO 'HOUSE THE ADMINISTRATIVE, SERVICE, <br />FIRE AND POLICE DEPARTriENTS,. AND ACQUIRING A SITE.THER.EFOR. <br />~~', BE IT RESOLVED BY THE COUNCIL OF THE VILL_gGE OF HAYFIELD, CUYAHOGA COUNTY <br />OHIO , THAT : .. .. .. .. .. ~ . _ ... <br />n~ <br />Q Sec. 1. It is hereby declared necessary that the Village of Mayf field, <br />f~ - - ~ Ohio, issue its bonds in ~ahe_ amount of One. Hundred ~ Thousand' Dollars <br />($100,000.00) for the purpose of paying the cost ;of constructing ,and <br />equipping a new municipal building to house the administrative,-service, <br />f ire and police departments, and acquiring a site theref or. <br />U~ Sec. 2. It is estimated that the approximate date of said bonds shall <br />~''~. be August lst,.1964; that the interest rate of said bonds is now estimated <br />~ at 3-1/2% per annum payable semi-annually; and that said bonds shall be <br />4~, <br />~ paid in 20 annual installments maturing in substantially equal amounts during <br />a period of 20 years of ter the authorization thereof. <br />~ Sec. 3. It is further declared necessary that a tax be levied outside <br />of the tax limitation imposed by Article XII, Section 2, of the Ohio <br />Constitution, to pay the interest on and retire said bonds and that the <br />~ question of issuing said bonds and of levying such tax shall be submitted - <br />to the electors of the Village of Mayf field at the regular election to be <br />held on November 5, 1963. <br />Sec. 4. The Clerk is hereby directed to certify a copy of this Resolution <br />to the Auditor o~ Cuyahoga County for his calculation of the average annual <br />tax which will be required to retire said bonds, assuming that they are all <br />issued in one series and that the amount of the tax list of this Village <br />remains the same throughout the life of said bonds. <br />Sec. 5. This Resolution shall be in force and effect immediately upon <br />its adoption., <br />Adopted the 15th day of July, 1963. <br />Attest s P• ~ /G%'~2~/" , <br />~~~ <br />Mayor - President of Council <br />~) <br />(SEAL) Clerk -- <br />`~~~ <br />;~ <br />,~ <br />