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?3 ORDINANCE No. 879 By Mr. Shaw AN ORDINANCE TO PROVIDE FOR THE ISSUE OF A NOTE IN ANTICIPATION OF THE lEOY OF SPECIAL ASSESSMENTS AND IN ANTICIPATION OF THE ISSUANCS OF BONDS IN ANTICIPATION OF TF1E COLLECTION OF SPECIAL ASSESSMENTS FOR_THE ., IMPROVFMENT OF_RIDGEBURY BOULEVARD. WHEREAS, the Council of the Village of MayLield, Ohio, has heretofore by legislation declared the necessity of improving Ridgebury Boulevard by grading, draining, curbing, paving, and constructing curb connections where necessary, together with all necessary appurtenances therein, and by the construction of a 12" cast iron caater main with curb connections and appurtenances. NOW THEREFORE, BE IT ORDAINED BY THE COUNCII. OF THE VII.I.AGE OF MAYFIELD, CUYAHOGA COUDITY OHIO, THATp .- Sec. 1. That it is hereby declared necessary to issue bonds of the Village of Mayfield in the sum of $37,840.00 for the purpose of raising money in anticipation of the collection of special assessments for the improvement of Ridgebury Boulevard in the Village of Mayfield, Ohio, from the center line of I,ander Road, which is the Westerly corporate line of the Village of Mayfield, in an Easterly direction approximately 2825.35 feet to the Easterly corporate line of the Village of Mayfield, by grading, draining, curbing, paving and constructing curb connections where necessary, together with all necessary appurtenances as provided in Resolution No. 614, adopted September 17, 1964, and for the improvement of Ridgebury Boulevard from 47ashington Boulevard Easterly to Orchard Heights Drive in the City of Mayfield Heights by the construction of a 1211 cast iron water main with curb connections and appurtenances as provided in Resolution No. 615 adopted September 17, 1964. Sec. 2. That said bonds-shall be dated February lst, 1966, shall bear interest now estimated at three and one-half per centum (3-1/2`70) per centum, payable semi- annually and shall mature in ten (10) annual installmettts after their issuance. Sec. 3. That for the purpose of raising money itt anticipation of the levy of special assessments and in anticipation of the issuance of bonds in anticipation of the collection of special assessments for the improvement of the above named street by grading, draining, curbing, paving and constructing curb connections where necessary together with all necessary aPpurtettances thereto, to pay the property owners' share of the cost and expense of said improvement, it is hereby declared necessary to issue and there shall be issued a note of said Village in the amount of $37,840.00. Sec. 4. That such anticipatory note in the amount aforesaid shall be issued bearing interest at such rate not exceeding two and one-half percent (2-1/2%) per centum as may be fixed by the Village Clerk in his award o£ said note at private sale, such interest to be payable at maturity. Said note shall be dated as of issuance and shall mature on or before one year from such date.