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ORDINANCE No. 1024 <br />By Mr. DAVIS <br />AN ORDINANCE TO AMEND SECTIONS 3 AND 4 OF ORDINANCE N0. <br />1018 ENTITLED: "AN ORDINANCE TO PROVIDE FOR THE ISSUE OF <br />p NOTS IN ANTICIPATION OF THE LEVY OF SPECIAL ASSHSSAfENTS <br />AND IN ANTICIPATION OF THE ISSUANCE OF BONDS IN ANTICIPATION <br />OF THE COLT,ECTION OF SPSCIAL ASSfiSSMENTS FOR THE IMER09FMENT <br />OF I.ANDIIt ROAD." <br />SE IT ORDAINED BY THE COUNCII. OF THfi VII.LAGE OF MAYFIEI.D, CUYAHOGA COUNTY, <br />OHIO9 THAT: 1 <br />See.. 1. Section 3 of Ordinance No. 1018 entitled "An Ordinance to <br />Provide for the Issue of a Note in Anticipation of the Levy of Special <br />Assessments and in Attticipation of the Issuance of Bonds in Anticipation of <br />the Collection of Special Assessments for the Improvement of Lander Road " <br />is hereby amended to read, as follows: . <br />"Sec. 3. That for the purpose of raising money in anticipation of <br />the levy of special assessments and in anticipation of the issuance of <br />? bonds in anticipation of the collection of special assessments for the <br />improvement of the above named street by grading, draining, curbing, <br />paving and constructing curb connections where necessary together with all <br />necessary appurtenances thereto and constructing a sidewalk, to pay the <br />property owners' share of the cost and expense of said improvement, it is'- <br />hereby declared necessary to issue and there shall be issued a note of <br />said Village in the amount of $33,500.00. Said note shall be dated July <br />12, 1967, and shall mature on or before July 12, 1968." _ <br />Sec. 2.Section 4 of said Ordinance No. 1018 is hereby amended to read, <br />as follows: <br />"Sec. 4. Tliat such anticipatory note in the amount aforesaid shall <br />be isqued bearing interest at such rate not exceeding three and oae-fourth <br />per centum (3-1/4%a) per annum as may be fixed by the Village Clerk-Treasurer <br />in his award of said note at private sale, such interest to be payable at <br />maturity. " <br />Sec. 3. Existing Sections 3 and 4 of said Ordinance No. 1018 are hereby <br />repealed as of the effective date of this ordinance. <br />Sec. 4. This ordinance is hereby declared to be an emergency measure, <br />necessary for the immediate preservation of the public peace, health, safety <br />and welfare of the Village of Mayfield and its inhabitants and for the further <br />reason that the iumediate issuance and sale of the note herein authorized is