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ORDINANCE No. 851 By Mr. Mason Seconded by Mr. Belzer AN EMERGENCY ORDINANCE TO FROVIDE FOR THE ISSUE OF SPECIAL ASSESSMENT BONDS.IN ANTICIPATION OF THE COLLECTION OF SPECIAL ASSESSMENTS FOR.THE IMPROVEMENT OF.S~I,CENTER ROAD.BY THE CONSTRUCTION OF A WATER riAIN, WITH CURB CONNECTIONS AND APPURTENANCES WHEREAS, this Council has requested the Clerk to issue his certificate as to the estimated life of the improvement hereinafter described, the cost of same to be discharged from the proceeds of bonds hereinafter referred to, and as to the maximum maturity of such bonds, the Clerk has certified to this Council such estimated life of said improvement as exceeding 5 years and has further certif ied the maximum maturity of said bonds as 10 years; and WHEREAS, a note of this Village in the amount of $54,300.00 has been issued and sold in anticipation of the issuance of bonds hereinafter referred to, in connection with the improvement hereinaf ter described, and such note is about to b~ec~ome due and payable; and WHEREAS, in pursuance to Ordinance No. 847, passed May 18, 1964, levying special assessments in the sum of $51,521.50 to provide a fund for the payment of principal and interest of said bonds to be issued in anticipation of the collection of special assessments for the improvement of SOM Center Road between the termini and in the manner specif ied in Resolution No, 559, adopted April 15, 1963, by the construction and installation of a water main with curb connections and appurtenances, and to cover the cost of said improvement, the Clerk of the Village of Mayfield has certif ied that special assessments in the aggregate amount of $2,606.12 have been paid in cash during the period provided by lato for said improvement. NOW THEREFORE BE IT ORDAINED BY THE COUNCIL OF THE VILLAGE OF HAYFIELD, CUYAHOGA COUNTY OHIO, THAT: ,_. .. Sec. 1. To provide ~ a fund for the payment of the cost and expense in anticipation of the collection of special assessments herein levied for the improvement by the construction and installation of a water main with curb connections and appurtenances in SOH Center Road in the Village of Mayfield, Ohio, between the termini and in the manner specified in Resolution No, 559A adopted April 15, 1963, and in accordance with Ordinance No. 847, passed May 18, 1964, it is necessary to. issue and sell special assessment bonds of the Village of Mayfield, Ohio, in the sum of $48,900.00, which amount includes an amount estimated to be sufficient to pay the interest on said bonds until the first collection of the assessments anticipated by these bonds is received.