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RESOLUTION N0. 776 <br />BY: I~1R. Fitz-Gerald <br />A RESOLUTION DETERAZIi3ING TO PROCEED TO SUBMIT <br />THE QUESTION OF THE ISSUANCE OF BONDS OF THE <br />VILLAGE OF l~1AYFIELD FOR THE PURPOSE OF <br />RECONSTRUCTING AND EQUIPPING THE VILLAGE FALL <br />HITHERTO DAMAGED BY FIRE, AND CERTIFYING THE <br />SAI~IE TO THE BOARD OF ELECTIONS OF CUYAHOGA <br />COUNTY', OHIO. <br />tJHEREAS, this Council on the 26th day of June, 1970, duly adopted <br />Resolution No. 775, providing for the submission to the electors of this Village <br />of the question of issuing $100,000.00 of bonds for the purpose of reconstructing <br />and equipping the Village Hall hitherto damaged by fire and of levying a tax to <br />provide for their payment at the general election to be held on the 3rd day of <br />November, 1970; and <br />WIiEREAS, the Auditor of Cuyahoga County has certified to this Council <br />that t'ne average annual levy throughout the life of such bonds, which would be <br />required to pay the interest on and to retire the same, assuming that they are <br />all issued in one series and that the amount of the tax list of this Village <br />remains throughout the life of the bond the same as the tax list of the current <br />year, is .6612 mills for each dollar valuation, which amounts to 6.612 cents for <br />each One Hundred Dollars valuation. <br />NOW, THEREFORE, Be It Resolved by the Council of the Village of Mayfield, <br />County of Cuyahoga and State of Ohio: <br />Section-l-o That this Council determines to proceed with the issuance <br />of said bonds and the Clerk-Treasurer is hereby directed to certify to the Board of <br />Elections of Cuyahoga County, Ohio, Resolution No. 775 aforesaid calling such <br />election together with a copy of this Resolution, the amount of the average annual <br />tax levy as estimated by the County Auditor, and the maximum number of years to <br />retire said bonds, namely 20 years, to give notice of said election, and to prepare <br />the necessary ballots and supplies therefor. <br />Section 2. This Resolution shall take effect and be in force immediately <br />upon its adoption. <br />Adopted this 20th day of July, <br />ATTEST: <br />(SEAL) CLEP.K-TREASURER <br />1970. ~~~rt~ v__r <br />~ ~,c <br />_~v <br />~""~ ~ itiiA~~t-PRESIDEidT OF COUNCIL <br />