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Minutes of the Combined Caucus/Council Meeting <br />8-13-07 <br />Page 12 <br />otherwise improving that system, and declaring an emergency." Introduced by Mayor Rinker <br />and Council as a Whole. . <br />Mrs. Mills, seconded by Mrs. Cinco, made a motion to suspend the rules of Council <br />requiring an Ordinance to be read on three separate occasions. <br />ROLL CALL: AYES: All Motion Carried <br />NAYS: None Rules Suspended <br />Mrs. Mills, seconded by Mrs. Cinco, made a motion to enact Ordinance No. 2007-20. <br />Council President Buckholtz asked if there was any discussion. <br />Mr. Brett explained that this is the reissuance of notes that are retiring on September l lth. They <br />would be sold on August 28th for a September 10t' settlement. This portion includes the golf <br />course that was purchased in 1997 for $4.6 million and the Zako/ballfields that were purchased and <br />used for the construction of the ballfields south of Parkview Pool for about $950,000. The <br />princ'ipals have been gradually reduced on both of these projects over time. <br />Mr. Marquardt asked if this ordinance or the next ordinance falls within the forecasted <br />$20,000,000.00 debt we would be in by the end of the year. Mr. Brett responded that it is a little <br />bit less. Mr. Marquardt said then that it is within what was forecasted. Mr. Brett said it is. <br />ROLL CALL: AYES: All <br />NAYS: None Motion Carried <br />Ordinance Enacted <br />First Reading of Ordinance No. 2007-21, "An ordinance to provide for the issuance and sale <br />of $1,860,000 of Notes of Mayfield Village, Ohio, in anticipation of the issuance of bonds for the <br />purpose of conserving, preserving and enhancing the availability of open spaces in the Village by <br />acquiring land or interests therein, and declaring an emergency." Introduced by Mayor Rinker <br />and Council as a Whole. <br />Mrs. Mills, seconded by Mrs. Cinco, made a motion to suspend the rules of Council <br />requiring an Ordinance to be read on three separate occasions. <br />ROLL CALL: AYES: All Motion Carried <br />NAYS: None Rules Suspended <br />Mrs. Mills, seconded by Mrs. Cinco, made a motion to enact Ordinance No. 2007-21. <br />Council President Buckholtz asked if there was any discussion. <br />Mr. Saponaro stated that this came in front of the Finance Committee and as far as he is concerned, <br />Ordinance 2007-21 is related to 2007-18 because part of the money that we are using that