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ORDINANCE N0. 80-65 <br />INTRODUCED.BY: COUNCIL AS A WHOLE <br />AN EMERGENCY ORDINANCE TO ISSUE NOTES IN <br />THE AGGREGATE PRINCIPAL AMOUNT OF ONE <br />HUNDRED THOUSAND DOLLARS ($100,000.00) IN <br />ANTICIPATION OF THE ISSUANCE OF BONDS FOR <br />THE PURPOSE OF PROVIDING FUNDS FOR ACQUIRING <br />AND IMPROVING CERTAIN REAL PROPERTY IN <br />ANTICIPATION OF THE EXPANSION OF THE <br />MUNICIPAL COMPLEX THEREON AND APPURTENANCES <br />THERETO. <br />Whereas, it. has heretofore been duly certified to the Council <br />of the Village of Mayfield Village (the "Council") that the estimated <br />life of the asset, property or improvement proposed to be acquired or <br />constructed .from the proceeds of the bonds hereinafter referred to is at <br />least five (5) years, and it has heretofore been further duly certified <br />that the maximum maturity of said bonds is twenty-nine (29) years and <br />that the maximum maturity of notes issued in anticipation thereof is <br />eight (8) years from the date of issuance of the original notes issued <br />for such purpose; provided, however, that if said notes are sold at <br />private sale, then their maximum maturity may not exceed one (1) year; <br />and <br />Whereas, this Ordinance constitutes an emergency measure <br />necessary for the preservation of the public peace, health and safety of <br />the Village of Mayfield Village (the "Village") and its inhabitants in <br />that the immediate issuance and sale of the notes herein authorized is <br />necessary to provide funds for the purchase of the real property herein- <br />