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Resolution NoQ 611 <br />By Mr. Sloan <br />A RESOLUTION ACCEPTING THE HIGHEST BID FOR $58,600.00 <br />SPECIAL A,SSESSMENT.BONDS-UPON THE,LOWEST_RATE OF <br />INTEREST BY A RESPONSIBLE BIDDER - .. <br />WHEREAS, PRESCOTT & CO., a responsible bidder, has presented a bid. <br />for special assessment. bonds, consisting of two issues, one being $48,900,00 <br />of water main improvement bonds, and one being.$9,700„00 of sidewa7.k improve <br />went bonds, for a total face amount of $58,600000, namely 3«•1/2% per annum <br />and an aggregate premium of $241.00; and <br />WHEREAS, said rate of interest is the same as provided in Ordinances <br />Nos. 851. and 852, passed July 13, 1964. <br />NOW THEREFORE BE IT RESOLVED BY THE COUNCIL OF THE VILLAGE OF <br />HAYFIELD, CUYAHOGA COUNTY, OHIO, T~IAT: .. .- ._--. <br />dec. 1. The bid of Prescott & Cos be, and the same is, hereby <br />accepted, said bid being the highest based upon the lowest rate of interest, <br />other than the amount of interest set forth in said ordinance. <br />Sec. 2. Said bonds, after being executed and signed, according to law, <br />and according to said Ordinances Nos. 851 and 852, heretofore passed by this <br />Council, and bearing the rate of interest provided in said accepted bid, be <br />delivered by the Clerk to said purchaser on compliance with the terms of said <br />sale. <br />Sec. 3. The Clerk shall furnish the successf u1 bidder a true trans <br />script, a statement of net .indebtedness certified by him, and such officer <br />shall furnish such other information as. required by said Ordinances Nosy 851 <br />and 852, as provided by law. <br />Secb 4o The Clerk be, and hereby is, directed to certify a copy of <br />this Resolution to the County Auditor of Cuyahoga County as required by law. <br />Sec. 5. This Resolution is hereby determined to be an emergency <br />measure, necessary for the immediate preservation of the public peace, health, <br />safety and welfare of the Village of Mayfield and its inhabitants, since funds <br />are required to pay the note issued in anticipation of the sale of said bonds <br />and therefore this Resolution shall go into immediate effect upon its adoption <br />as an emergency Resolutiono <br />Adopted tliis 17th day of August, 1964. <br />Atte <br />~, <br />(SEAL. C1 rk <br />Mayor - President o Counci <br />