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RESOLUTTOT3 No. 119 <br />By Mrs. PAR K?-R - --- <br />A RESOLUTIO11 TO PROVIDE FQP, TILE LEVYING (lF ADDTTTONAL TAXES FOR <br />THE P?.Y'lE I4T (DF DEFAiT`1TED SPECIAL ASSESSiVIENfi BOMS OF THE VTLLAGE. <br />1?'?HEREAS, the Village of Niayfield has heretafare issued 638,000.00 of its <br />baizds in antzcipatian of the collectian of special assessments an certain of tne real <br />estate located in the Village of Ydayfield, and <br />VflEREAS, by reason of the failure crz taxpayers tcr make theu payments ai <br />taxes and assessments when and as due, it has been imposs3.ble for the Villa.ge of <br />Mayfield to meet the principal paynents on said bonds as the :same mature? :and <br />VVHEREAS, this Cauncil is mind.cul of its duty ta the berndhalders -tv pravide <br />funds tcr meet the principal retirement requirements af said boilds, :and <br />WHEREAS' the Supreme Court of (ahio in the case of Stdte, ex rel. 3ruml v's. <br />Village of Broaklyn, et ale, 126 0m S. 459, has held that a ffitznicipality must levy <br />sufzicient taxes 4rithin the 15 mil-7. Tin.?i.ta.tian to pravide for the interest and. prin- <br />eipal payment requirements of special assessanent bands, and <br />VHiEREAS, this Council feels that it wi17_ ba necessary tio levy 2-i miiis <br />over and .above the 10 mill limi-tatiQn set by the Constitution of the State of Ohio an <br />all of the taxable xeal property lacated within the Village of Mayfield, in arder to <br />pravide funds sufficient to meet the principal and interest requirements of said <br />specia.l assessment band.s; <br />NQW,, TtiEREFORE, BE IT RESC3LVED by the Council of tne Vil]_age of NTayfield, <br />Cuyahoga Caunty 9 . Ohio9 that: <br />Seotzon lv The Ccaunty Bud.get CommLSSion be, and it hereby is requested to <br />Tevy on a1.I of the taxablE real estate Iocated tvithin the Vil.lage of Dlayfield ad valorem <br />taxes at the rate of 22_ r?.]1s in excess" €a?f the lE? mill Tirsjitation crea-ted by the Con <br />St1.tL1t1OuY1 of the State of Qhia, vTi.th respect to taxes to be col.lected for th.e year 1940m <br />Sectian 2. It is hereby determined that a11 moneys received by reasan of <br />such 211Kmills ta.x, shall be app1ied ta the payment ai the principa]. -and interest require- <br />?nents mn the specia7. assessment bonds heretafore issued by the Village of Mayfield. <br />Sectian 3. The Village Clerk be, and she hereby is, authorized and directed <br />to certify a capy of this Resalution to the County Budget Commissian. <br />Sectian 4. This Resalution shal,l take effect ancl be in force from and <br />after the earliest periocl allowed by law. <br />passed the 21st day of Qetober, A. D. 1940. <br />L/Y <br />A.°ttest: Mayar - PreNident of Cauncil., <br />(SEAL) Clerk.