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ORDINANCS No. 911 By Mr. Mason AN ORDINANCE TO PROVIDE FOR THE ISSUE OF A NOTE FOR THE IMPROVEME- NT OF WORTON PARK DRIVE, NORTH W00DLANE DRIVE, NORMAN I.ANE, SOUTN WOODLAlVE DRIVE, AND WOODI,ANE DRIVE, REPEALING ORDINANCE No, 910 pASSED AUGUST 16, 1965, AND DECLARING AN FMERGPsNCY. . _ , . WNEREAS, the Council of the Village of blay£ield, Ohio, has heretofore by legislation declared the necessity of improvittg a portion of Worton Park Drive, and all of South Woodlane Drivel North Woodlane Drive, Norman I.ane, and Woodlane Drive, by grading, draining and paving with asphaltic materials, together with,all necessary appurtenances therein. NOW THERFsFORE BE IT ORDAINED BY TNE COUNCIL OF THE VILlAGE OF MAYFIELDP CUYAHOGA COUNTY OHIO, THAT: ., Sec. 1. It is hereby declared necessary to issue bonds of the Village of Mayfield in the sum of $94,450.00 to pay costs allocated to the property owners for the improvement of Worton Park Drive, froubngway Road to South Woodlane Drive, North Woodlane Driire from Worton Park to Woodlane Drive, Norman Lane from Worton Park Drive to Woodlane Drive, South [aoodlane Drive from Woodlane Drive to its Sasterly terminusg and Woodlane Drive from_North Woodlane Drive_to South Woodlane Drive, all in the Village of Mayfield, by grading, draining and paving with,asphaltic materials, together with all necessary appurtenances. Sec. 2. That said bonds shall be dated August lst. 1966, shall bear interest now estimated at three and one-half per centum (3-1/2%) per annum, payable semi-annually, and shall mature in ten (10) annual installments after their issuance. , Sec. 3. That for the purpose of raising money in anticipation of the issuance of said bonds for the above described improvements, it is hereby declared necessary to issue and there shall be issued a note oE said Village in the amount of $94,450.00. 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 annun as may be fixed by the Village Clerk in his award of 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. Sec. 5. Such note shall be executed.by the Mayor and Village Clerk and bear the seal of the corporation. It shall be payable at the office of the Treasurer of the Village of Mayfield, Ohio; it shall express upon its face the putpose for which it is issued and that it is issued pursuant to this ordinance.