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Ordinance No. 513 By I}fir. Beard AN EMERGENCY ORDINANCE PROVIDING FOR TI3E ISSUANCE OF BONUS C~' THE VILLAGE OF MA.YFIELD, ..OHIO, FOR, THE PURPOSE C~' PROVIDING THE_ VILLAGE PORTION OF. THE COST. OF CONS STRUCTION.OF ~TATER.HAINS IPt SOM CIIVTER ROAD, HIGHLAND ROAD, . ~rICTaSON MIL7AS ROAD, RSDGEBU£~Y' BOULEVARD,. LP_NDER . - -. ROAD AND..3~HITE .ROAD IN .THE , ~ITLLA.GE CiF' HAYFIELD, _ OHIO,. BE IT ORDAINED BY THE COUNCIL OF THE VILLAGE CF P~IAYFIELD, CUYAHOGA COUNTY .OHIO, THAT: - _ ~.- ._ ._ - __---- - -~ ....__. Sec, l.o This Council finds that, pursuant to resolutions heretofore adopte Ccuncil of the Village of Mayfield, Cuyahoga County, Ohio, an election was_held on the 7th day of November, 1950, on the proposition of issuing bonds of said village for the purpose of providing a portion of the cost of constructing water mains in certain roads and streets in the Village of Mayfield in the sum of X80,000.00 and' of levying taxes outside of the t_ en mill limitation to pay the interest and principal. of such bonds, the requisite majority of those voting on the proposition voted in favor thereof; amd that the Clerk has certified the estim~.ted 1a.fe of the improvements proposed to be constructed and acquired from the proceeds of the bonds hereinafter referred to as exceeding 5 years, and has further certified- the maximum maturity of such bonds as ~.0 years. Council further finds that on the 12th day of August, 1952, bonds in the amount of ~?~0,000.00, dated January let, 1952,_trere issued and sold by the Village of• I`~yField for -the purposes hereinabove specified, leaving a balance of ~~.0, 000:00 of such bonds still aphorized to b e issued by ~ said election of, November 7th, 1950. Sec. 2. It is deed necessary to issue and there shall be issued and sol~onds of the Village of Mayfield, Ohio, iri the amount of X30,000.00, in order to prov3.de a fund for the purposes _ above- `mentioned and it • is hereby determined that said bonds shall` be issued in installments. The amount of bonds proposed presently to be issued is $30,000.00, which. shall be designated 41V311;age of 1~layfield Water Main. Bonds 1955, Village Portion Series Btt and shall. be issued for the- following purpose.:. -_ Constructing the Village of Mayfield portion of the cost of water mains in-,SOH Center Road, from a point approximately 2257 feet North of the center .line of ~1ilson I'~i.].ls Road, ~NortYierly t.o the. North corporation line of the Vil7.age; ~ighlrand Roads from the ~Jesterly Line of the Vil7.age of Mayfield iri an Easterly direction `to SOM Center Road; Wilson Mills Road, from Echo Drive Easterly to the East corporation ].3.ne of the Village; and the entire portions of Ridgebut~r Boulevard, Zander Road' and White Road, which are- situated in the Village of Mayfield; for a total of X30,000.00. _. Notes shall not be sued in anticipation of the issuance of said Series B Bonds.