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RESOLUTION.N0.741 <br />BY:. MR. Schmidt <br />A RESOLUTION ACCEPTING-THE HIGHEST BID FOR $25,400.00 SPECIAL <br />ASSESSMENT BONDS UPON-THE ZOWEST'RATE OF INTEREST BY A RESPONSIBLE <br />BIDDER. <br />WHEREAS, r1AGNUS & COMPANY has presented a bid for water main bonds for <br />a total face amount of $25,400.00 with interest.at 5 T/4% per annum and a premium <br />of $66.00.. <br />NOW, THEREFORE, BE.IT RESOLVED BY ..THE COUNCIL OF THE VILLAGE OF HAYFIELD, <br />CUYAHOGA COUNTY, OHIO, THAT: <br />Section 1. -The bid of Magnus & Company be and the same is hereby ac- <br />cepted, said bid being the highest based upon the lowest rate of interest, other <br />than the amount of interest set forth in said Ordinance. <br />_. Section 2.. Said bonds, after being executed and signed, according to <br />law, and according to Ordinance No. 1067 as amended by. Ordinance No. 1071, here- <br />tofore passed by. this Council, and.beis-g the rate of interest provided in said <br />accepted bid, be.delivered by the Clerk-Treasurer.to said purchaser on compliance <br />with the terms of said sale. <br />Section 3. The Clerk-Treasurer shall furnish the successful bidder a <br />true transcript, a statement of .net indebtedness certified by him, and such <br />officer shall furnish such other information as-required by said Ordinance.No. <br />1067 as amended by Ordinance No. 1071, as provided by law. <br />Section 4. The Clerk-Treasurer be, and hereby is, directed to certify <br />a copy of this Resolution to the County Auditor of Cuyahoga County, as required <br />by. law. <br />Section 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 Resolution. <br />Adopted this 19th day of August, 1968.. <br />e/ <br />ATTEST: .MAYO, PRE DENT OF COUNCIL <br />~XI ,/ ~ <br />(SEAL) CLERK- SURER <br />