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ROoLuTsoN No, 381
<br />By?. Ta?. lor
<br />A AESOLUTION DEGIARING TBE NECESSITY C(F' St1BMtTTIM TO W
<br />ELECTORS. CF TfE VILIAGE. CF MAYFIEI,D,. OHIO,_: AT. THE NOVEHER
<br />,..
<br />5?_?.957_,-eEi?i. .?rTzor1'? Q?sxzorr W.issuz?tGBorms.FoR
<br />THE PURPOSE OF_ PA'1ING. PROPERT'Y _?RS ASSFSSM?I11'r PCI?t?'IONS,
<br />AND ]F RF?Q U.I1tD, _ T0. PAY TI? ?TILLAGE POxTIOI?kS ~??IiE _ C 015TCiE
<br />I1?R4?I1?G THE _STREETS IN _THE , VILT.AGE OF. NlAYFI?LD. BY PAVING?
<br />G8ADII?G; .C pRB]:PGs DRATIITW,. DTTCHIIUG, , lND_ THE C0ItTRiTC'"ZON
<br />(' sTORM S?Ss S?NITAk?Y _SEk?P.S, .?TER MAl?1S, . AnID. --
<br />A?'1'IIRTEATANCES TAEN?IN• BE IT RESOLVED BYTHE GOUNCIL (F THE VIL;IAGE CF MAYF7ELD, CUY&HOGk COUNTY
<br />OHIA? _.THA.T.._ - -....:.-,._ -_ ---......_ .- •=._ __.?_ .. _-?......--._ . .
<br />It i.s hereby dec].arecl necessary that the Vi]].age of -Mayfie].d,
<br />0hi0, i.ss?e ils bonds in a.ii amount estimated at Six xtuzdred Fi.fty Thousand
<br />0550'0bo.00) DoLl,ars far the- purPose of pay3ng the property,.Owners Assess-
<br />ment portions, _and if required, to pay the Village portions of the cost
<br />of improvLng streets isi the Village of Mayfa.eld by paving, grading' cvrbi.ng,
<br />drainirig, dif,eYL-i.ng, _ aud the construction of stom sewers, sanitary se-vrers,
<br />water mains and appurtenanees-thereira•
<br />i Secs 21 It is est3.mated that the approximate date of said boiads
<br />? shall b-e7XU-gust. lst, 1958; that the approxima:te interest rate of said
<br />i
<br />bonds sha1l'be I% per annum.payable -semi-arnuallg; and that said bonds
<br />? sha1l be, paid in .20 annual installments maturing, in snbstantiall,y eqval
<br />. amounts &xr^ing a per3:od of 20 years after the,autharization thereof.
<br />Sec. 3. It is furtlier declared ` necessary that a tax be levied
<br />autsid,e.;ofth`e taac •]imitation imposed by Article XII, -Section 2, of the
<br />ahio Constitu°tion, to pay the interest on_and retire'said boads and that
<br />the question of issuing said bonds ancl-of levying such tax shal]. be
<br />submitfi,ed to the electors of the Vi.1].age of May.£ield at the regular
<br />election to be held an Ncvember 5'_ 1957. .
<br />Sec. 4, The Clerk is here'by clirected to ces°tafg a copy of thi.s
<br />Resolut?.on .to the Auditor of Cuyahoga Gounty for h3.s cal.culation of the
<br />avera,ge amua7e ta,x_,which wa]3.rvbe requi.red. to retire sa3.d bonds, assaming
<br />that they are all issued in one series and tha.t the amount of the tax
<br />list ofc thia V3.72age remains the same throughout the ]3.fe of said bonds•
<br />Sec. 5. This Resolution shall be in farce and effeet immecti.a.te7,y upon its .adoption.
<br />Adopted the 17th c]ay of June, 1957.,
<br />Attest : . , - .
<br />' .. . Ma.yor - - resident of . auncil . . . . . .
<br />(SFAL)
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