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x-PsoL-JrTON rro. 375 <br />By 1?. Sti^ater <br />Seconded by Ilir. Falk <br />A RESOLITION AC?EPTING THE HIGHEST BID FOR $44,550e00 <br />OF SPECIAZ ASSESSMENTS BONDS. UPQN. THE _LQtEST RATE CF <br />INTEI?tST BID BY A. RESPONSIBLE BIDIE R .. . <br />1,11EMS, NlcDONAIaD & COMPANY, a responsibl.e bidder, has presented <br />a bid for special assessments bonds dated February 1, 1957, in the face amount <br />of 6ll1s.,550o00, upon a rate of interest, namely, l% per an.num and a premium <br />of $231,669 and <br />?^JHEREAS, said rate of 3.nterest is louer than provided in Orclinance <br />No. 572, passed January 14th3 1957; . <br />NOTS THEREF'ORE BE IT RESQLVED BY THE COURTCIG 0F THE VILIAGE OF <br />MAYFIELD, CUYAHQGA _ COIINTY OHIO THP.T: - - - _ - - • _ __ - - _ - <br />Sec, 1, The bid of McDonald & Compary be and the same is Yaereb,y <br />accepted, said bid.being the higliest based upon the lowest rate of interest <br />other than that prov?i..cled for in.said ord.anance. <br />Sec o 2 e Said bonds 9 after being executed ancl signed, according <br />to laifp and according to said Ordinance No. 572 hex^etofore adopted by this <br />council, but beaxing the rate of interest provided in said accepted bid, <br />be de33vered by the C1erk -to sa.id 1'urchaser on compl3ance w3.th the terms <br />of said sa1.e. <br />Sec. 3. The Clerk sha.11 furna.sh the successful bidder a tMte <br />transcx°ipt, a sTatement of net indebtedness cerGified by him, and such <br />officer shall furnish such other informa.tion as required by said (?rcUnance <br />TTo. 572 and as provided by law. Sec. 4. The Clerk be, and he hereby is, disected to certify a <br />copy of tni_s- solution to the County Auclitor of Cuyahoga County as requis°ed <br />by laT,r, <br />Sec. 5. This Reso7.ution is hereby determi.ned to be an emergency <br />measura, necessary.for the immediate preservation of the public peace, <br />heal,th, safety and wel£are of the Village of MVfield and its ixihab3.tants, <br />since funds ara requixed to pay the notes issuea in antieipation of the <br />sale of said bonds and therefore this resolution sha11 go into immediate <br />effeet upon its adoption as an emergency resolution. <br />Adopted tYis 19th day of r ebruary9 1957. <br />Attest: <br />, .? Mayor - President of ouncil <br />e 1,