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ORDINt1NCE No. j n-,?j_ <br />By Mr. Mason <br />AN ORDINANCE TO PROVIDEs' F08 TFIE ISSUE OF A NOTE IN <br />ANTICIPATIOIV OF THE L$VY,.OF SPECIAL ASSTSSMENTS AND <br />IN ANTICIPATION OF THE ISSUANCE OF_BONDS IN ANTICIPATION <br />OF THE.COLI.ECTION.OF SPSCIAL ASSESSMENTS FOR THE IMPROVIIMENT OF RIDGEBURY BOULEVAR? <br />WHEREAS, the Council of the Village of Mayfield, Ohio, has heretofore <br />by legislation declared the necessity of improving xidgebury Boulevard by <br />constructing sidewalks thereon. <br />NOW THEREPORE, BE IT ORDAINED BY THE COUNCIL OF THE VIlLAGE OF <br />MpYFIELDa CUYAHOGA COUNTY, OHIO, THAT:. <br />gec. 1. That it is hereby declared necessary to issue bonds of the <br />Village of Mayfield.in the sum of $2,250.00 for the purpose of raising money <br />itt anticipation of the collection of special assessments for the improvement <br />of Ridgebury Boulevard in the Village oP Mayfield, Ohio, between the tetmini <br />describe3 in Resolution No. 680 adopted August 15, 1966, by the construction ' <br />of sidewalks thereon. _ <br />Sec. 2. That said bonds shall be dated September 1, 1968, shall bear ' <br />interest now estimated at three attd one-half per centum (3-1/2%) per an¢um, <br />payable Bemi-annuallyp and shall mature in five (5) substantially equal annual <br />installments after their issuance. ?. <br />Sec. 3. That for the purpose of raisiag moneq in anticipation of the <br />levy of special assessments and itt anticipation of the issuance of bonds in <br />anticipation of the collection of special assessments for the improvement of <br />said street by constructing concrete sidewalks thereon to pay the propertq <br />owners' share of the cost and expenses of said improvement, it is hereby declared <br />necessary to issue attd there shall be issned a note of said Village in the sum <br />of $2,250.00. <br />Sec. 4. That such anticipatory note in the amount aforesaid shall be <br />issued bearing interest at such rate not exceeding three and two-tenths percent <br />(5-2/100) per annmn as may be fixed by the Village Clerk-Treasurer in his award <br />of said notes at private sale, such interest to be payable at maturity. Said <br />note shall be dated as of issuaace and shall mature on or before one year from <br />such date. <br />Sec. 5. Such note shall be exeeuted by the Mayor and the Village <br />Clerk-Treasurer and bear the seal of the corporation. It shall be payable at the <br />office oE the Treasurer of the Village of Mayfield, Ohio; it shall express upon <br />its face the purpose for which it is issued and that it is issued pursuant to <br />this ordinance.