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RESOLUTION NO. 775 <br />BY: HR. Fitzgerald <br />A RESOLUTION DETERMINING TO SUBMIT TO THE ELECTORS <br />OF THE.VILLAGE OF HAYFIELD-THE. QUESTION..OF.ISSUING <br />BONDS FOR.. THE PURPOSE ..OF.. RECONSTRUCTING AND .EQUIPPING,-q <br />THE ..VILLAGE,. HALL. -HITHERTO ,DAMAGED..BY .FIRE . . <br />Be it Resolved by the Council of the Village of rZayfield, <br />County of Cuyahoga and State of Ohio,. that: <br />Section:>.1. For the purpose of reconstructing and <br />_ equipping tie V`~i~ge Hall hitherto damaged by fire, it is neces- <br />nary to issue bonds of..this Village in the amount of $100,000.00 <br />and it is necessary to levy.a tax outside the ten-mill limitation <br />of Article KII, Section 2 of the Ohio Constitution to pay the <br />interest on .and to retire said bonds. The question of issuing <br />said bonds and of levying said tax shall be submitted to the <br />Electors of this Village at the general election to be held on <br />November 3, 1970._. The approximate date of said bonds will be <br />March 1, 1971; said-bonds will mature in 20 annual installments <br />after the authorization thereof, and will bear interest at a rate <br />now estimated at 6 1/2 percentum per annum, payable semi-annually. <br />Section 2. The Clerk-Treasurer shall certify a copy of <br />this Resolut on to the. Auditor of Cuyahoga County for his calcula- <br />tion of the average annual tax levy required throughout the life of <br />_ the bonds to pay the interest on and to retire said bonds, assum- <br />ing that they are all issued in one .series- and the amount of the <br />tax list of this Village remains the:°same throughout the life of <br />said bonds. <br />Section 3. This Resolution shall be in force and take <br />effect imme gate y upon its ,adoption.. <br />Adopted this 26th .day of June, 1970. <br />S L _ CLERK-T SUR <br />