1967 989 Ordinance - Laserfiche WebLink

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OBDINANCB No. 989 By Mr. Shaw AN OBDINANCS TO PBOPIDH FOB TH$ I35US UF A NOTS IN ANTICIRATION OF THB L$VY_UF S2ECIAL.ASSESSDffi?TT3 AND IN,ANTICI$ATIUN Ok'_THE_ISSQ6NCE OF_BOPDS IN . . _ , _ _...._ _._- ANTICIPATIUIi.UF THE,C9116CPION,OF_9PECIpL.AS3S3SMENTS FOB. THS INJPgOVFMSNT OF_ RID6SBURY_ BOi1LBYlJ:tD. WHERE/?g, purauant to Ordinance No. 879, pasaed February 15, 1965, a note in the priocipal emount of $37,840.00, dated Masch_30 1965, was issued for the pnrpose hereinaftar atated, to matnre oa or before one year £rom the date of said note; and Wt;fiRBS3, because of delays in construction and ia the determinatio¢ of final Qosts, it was impoasible to levy assesamsnts or issue bonds to pay said note, sad therefore a renewal note for one year was isaued on March 3, 1966; and WNEHSA3, because o€ the uncertaintq of the bond market it is not feasible at this time to sell bonds to pay said note aad it is better to wait to a later date and to ccmbine this note with a larger note oE the pillages and in order to preseave the credit of the Village it is easeatial to issue a new note to setire said outatattding note dated March 3, 19669 und ia anticipation of the isauance of bonds; and WEL FAG. the Clerk-Treaaurer has certiPied that the estimated life oP the improyements hereinafter mentioned ie at least five yesra and has farther certified that the maaimam maturitq of the.hereinafter mentioned bonde to be 40 peara and a note to be issued in anticipation thereof to be five yearsg or one qear from date of isauance if sold privat¢ly. NOW THBRBFORE BS IT ORDAINSD BY THE WUNGIL OF TFiE VILLAGE OF MAYFIE[.DO CUYAHOGe1 CUI1N?ff _OHIU e THAT s . . • . • . _ - .. .. _ _ .. ? .... , - - - •. - - ? Sec. 1. That it is hereby declared necessary to issue bonds of the Village oE May£ield in the sam of $37,840a00 for the pnrpose of raising mo¢ey ia anticipati.on of the collectioa of apecial assessments for the improvema¢t of &idgebury Bonlevard in the 9i11age.,oE Msyfield, Ohio, fram the center li¢e of La¢der Boad, which ia the Westerly corporate line of the Village of MayEield, in an Sasterly direction approximately 2825.35 £eet to the Easterly corporate line of the Gillage of MayPield, bq grading, draining, curbinge paving and constsucting_curb connections where necesaary, together with all necessary appurtenances as provided in Besolution No. 614, adopted September 17, 19649 and for the improvement of Eidgebury Boulevard from Washington Bonlevard 8saterly to Orchard Heighta Drive in the Citq of Mayfield?Heights by the construction of a 120' cast i;oR water main with curb cotnnections and appus- tenances as provided,in Beaolutio¢ No. 615 adopted September 17, 1964.