|
tf
<br />ORDINANCE N0. 1067
<br />By: 'Mr. navrc
<br />AN EMERGENCY ORDINANCE TO PROVIDE FOR THE ISSUE OF
<br />SPECIAL ASSESSMENT BONDS IN ANTICIPATION OF THE COL-
<br />LECTION OF SPECIAL ASSESSMENTS FOR THE IMPROVEMENT
<br />OF LANDER ROAD BETWEEN CERTAIN TERMINI BY GRADING,
<br />DRAINING, CURBING, PAVING (INCLUDING CURB CONNECTION
<br />WHERE NECESSARY,) AND INSTALLING SIDEWALKS, TOGETHER
<br />WITH ALL NECESSARY APPURTENANCES,
<br />WHEREAS, this Council has requested the Clerk-Treasurer to issue
<br />his certificate as to the estimated life of the improvements hereinafter
<br />described, the property owners' portion of said cost to be discharged from
<br />the proceeds of bonds hereinafter referred to, and as to the maximum
<br />maturity of such bonds, and the Clerk-Treasurer has certified to this Council
<br />such estimated life of said improvements as exceeding five years, and has ~~
<br />further certified the maximum maturity of said bonds as 20 years; and
<br />WHEREAS, a note of this Village, in the amount of $33,500.00 has
<br />been issued and sold in anticipation of the issuance of bonds hereinafter
<br />referred to, and said note has been renewed, and is now due and payable; and
<br />WHEREAS, Council has passed Ordinance No. on June 17,
<br />1968, to provide a fund for the payment of principal and interest of said
<br />bonds to be issued in anticipation of the collection of special assessments
<br />for the improvement of Lander Road between the termini and in the manner
<br />specified in Resolution No. 666, adopted_January 17, 1966.
<br />NOW, THEREFORE, BE. IT ORDAINED BY TIIE COUNCIL OF THE VILLAGE OF
<br />HAYFIELD, CUYAHOGA COUNTY, OHIO; THAT:
<br />Section 1. To provide a fund for the payment of the cost and
<br />expense in anticipation of the collection of special assessments herein
<br />levied for the improvement of Lander Road, in the Village of Mayfield, Oltio,
<br />between the termini and in the manner specified in Resolution No. 666,
<br />adopted January 17, 1966, and in accordance with Ordinance No. ,
<br />passed June 17, 1968, it is necessary to issue and sell special assessment
<br />bondg of the Village of Mayfield, Ohio, in the aggregate amount of
<br />$35,700.00, which amount includes an amount estimated to be sufficient
<br />to pay the interest on said bonds, until the first collection of the
<br />assessments anticipated by these bonds is received,
<br />Section 2. Said bonds shall be numbered 1 to 36, inclusive, and
<br />shall bear interest at the rate of 5% per annum, payable semiannually,
<br />on the first days of June and December of each year, beginning December 1,
<br />1968; shall be of the demonination of $1,000.00 (except that bond number 1
<br />
<br />J
<br />
|