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RESOLUTION No, 611 <br />-By~ Mr. Sloan <br />A RESOLUTION ACCEPTING THE HIGHEST BTD FOR $58,600.00 <br />SFECIAI~ ASSESSt~iT. BONDS. UFON THE. L041EST RATE OF <br />INTEREST BY _,Pe _ RESPONSI$LE BIDDER „ _ , . _ _ r <br />WHEREAS PRESCOTT & C0,' a responsible bidder, has presented a bid for <br />special assessment botzds dated August 1, 19648 consisting of two issues, one <br />being $48,y900,00 of water main. improvement bonds; and one .being $9700,00 of <br />sidewalk improvement bonds, fora total face amount of $58,600, namely 3~-1/2% <br />per annum and an aggregate premium of $241,00, and <br />-- <br />WHEREAS, said rate of interest is the same as provided in Ordinances <br />Nos, 851-and 8528 passed July 138 1964® <br />NOW THEREFORE'BE IT RESOLVED BY THE COUNCIL OF THE 9ILL.AGE OF MAYFIELDy <br />CUY,AHOG,A_COUNTY OHIO,.THATs ... <br />Sec, 1, The bid of Prescott & Co, bee and the same is, hereby accepted <br />said bid being the highest based upon the .lowest rate of interests other than <br />the amount of interest set forth in said ordinance <br />Sec. 2. Said.. bonds, after being executed and signed, according to laws <br />and according to said Ordinances NOSs 851 and 852 heretofore passed by this <br />Councile and bearing the rate of interest provided in said accepted bid, be <br />delivered~by the Clerk to said purchaser on compliance with the terms of said <br />sale. _ <br />Sec, 3, The Glerk shall furnish the successful bidder a true transcript, <br />a statement of net indebtedness certif ied by him, and such officer shall furnish <br />such other information as required by said Ordinances Nos, 851 and 852 and as <br />provided by law, _ <br />Sec, 4, The Clerk be, and hereby is, directed to certify a copy of this <br />Resolution to the County Auditor of Cuyahoga County as required by law. <br />See, 5g;.. This Resolution is hereby determined to be an emergency measuree <br />necessary for the. immediate preservation of the public peacep health, safety <br />and welf are of the 'Pillage of Mayfield and its inhabitants a since funds are <br />required to pay the note issued in anticipationAof the sale of said bonds and <br />therefore this Resolution shall go into immediate effect upon its adoption as an <br />emergency Resolution, <br />Adopted this 17th day of August' 1964. <br />Attest;® <br />r.~if <br />SEAL rk <br />_! t~~ <br />Mayor Pres~.den of Council <br />