1963 823 Ordinance - Laserfiche WebLink

Home Browse Search

ORDINANCE No. 823 By Mr. Shaw ,AN ORDINANCE TO P120VIDE FOR THE ISSUE OF NOTES IN ANTICIPATION OF THE I.~EVY ,OF SPECIAL ASSESSMENTS,,Ai'VD IN ,ANTICIPATION OF T~iE ISSU,Ai~ICE OF BONDS IN ANTICIPATION OF.THE COLLECTION.OF.SPECIAL ASSESSi~ENTS FOR.THE _. II~IL ROVEi~ENT OF „LAjvDER ROAD. _, T7HEREAS, the Council of the Village of I~iayfield, Ohio, has heretofore by legislata.on declared the necessity of improving Lander Road by constructing a sanitary sewer, with curb connections therefor and the necessary appurtenances NOW THEREr^ORE BE IT ORDAINED BY THE COUNCIL OF THE VILLAGE OF i~1AYFIELD, CUYAHOGA COUNTY, OHIO, THAT:.. ..- - Sec, 1. That it is hereby declared necessary to issue bonds of the Village of Hayfield in the sum of $30,250.00 for the purpose of raising money in anticipation of the collectioh of special assessments for the improvement of Lander Road in the Village of yiayfield, Ohio, from the existing sanitary sewer in Wilson Mills Road Southerly to the Southerly corporate line of the Villages of Hayfield and Highland Heights, by the construction of a sanitary sewer, with curb connections theref or and the necessary appurtenances, as provided for in Resolution NoW 566, adopted July 15, 1963, Sec, 2~. That said bonds shall be dated December lp 1964, shall bear interest now estimated at three and one-half percentum (3-1/2%) per annum, payable semi-annually and shall mature in twenty (20) annual installments after their issuance, A Sec. 3, That for the purpose of raising money in anticipation of the levy of special assessments and in anticipation of the issuance of bonds in anticipation of the collection of special assessments for the improvement of the above named street by constructing a sanitary sewer therein, with curb connections therefor and the necessary appurtenances, to pay the property owner5'~ share of the cost and expense of said improvement, it is; hereby declared necessary to issue and there shall be issued a note of said Village in the amount of $30,250.00. ' Sec„ 4., That such anticipatory note in the amount of oresaid shall be issued bearing interest at such rate not exceeding two and one-half percent (2-1/2~) per annum as may be fixed by the Village Clerk in his award of said note at^private sale, such interest to be payable at maturity, Said note shall be dated as of issuance and shall mature on or before one year from such date