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<br />RESOLUTION No. 632 <br />By Mr. Shaw <br />A RESOLUTION ACCEPTING THE HIGHEST BID FOR $25,000.00 <br />GENERAZ OBLIGATION BONDS UPON 't'1-IE L~y~ST RATE OF <br />IIQTEP.EST BY A P.ESPONSIBLE BIDDER <br />T~tEIER;~S, AIAGNUS ~ COT~IPAI~IY, a responsible bidder, has presented a <br />bid for general obligation bond s_( Municipal Building Bonds of. 1965) for a <br />total face amount of ,~~,25aQ00.00 ,.namely 3-5/8% per annum, interest and a <br />premium of X113.50; and <br />j:?HERE~,,S, said bi~l of plagnus & Company is the highest bid based <br />upon the lowest rate of interest for said bonds. <br />NCC~t TI-TLREFORE BE IT RESOLVED BY THE COUNCIL OF THE VILLAGE OF <br />r1~3YFIELD, CUYAIIOGA COUNTY OIiTO, TT1AT: <br />sec. 1. The bid of TSagnus & Company 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 />b <br />Sec, 2. Said bonds, after being executed and signed, according to <br />law, and according to said Ordinance No. 875, heretofore passed by this Council, <br />and being the rate of interest provided in said accepted bid, be delivered by <br />the Clerlc to said purchaser on compliance with the terms of said sale. <br />Sec. 3. The Clerk shall furnish the successful bidder a true tran- <br />script, a statement of net indebtedness certified by him, and such officer <br />shall furnish such other information as required by said Ordinance No. 875, <br />as provided by law. <br />Sec. 4. The Clerl; 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 theref ore this Resolution shall go into immediate effect upon its adoption <br />as an emergency Resolution. <br />Adopted this 15th day of February, 1965. <br />Attest: <br />Mayor - President of Council <br />tzSE.~II, lerk <br />