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MINUTES OF HEARING <br />? Village of Mayfield <br />July 11, 1972 <br />The Council of the Village of Mayfield met at an Open Hearing at May- <br />field Village Hall on Tuesday, July 11, 1972 at 8:40 pem., Mayor <br />Robert G. Beebe, presided. <br />Roll Call: Present: Mayor Beebe, Messrs. Boger, Braun, Davis, Leech <br />and Schmidt. <br />Absent: Mr. Bordonaro <br />Also present were Messrs. Edelman and Hovancsek, <br />Mayor Beebe stated that the purpose of the hearing was to give facts <br />and data relative to the proposed purchase of land for recreational <br />purposes and for council to be guided on proposed Bond Issue (Novem- <br />ber, 1972 ballot). <br />Mr. Bob Cotton, Chairman, stated that the property considered to best <br />suit our needs in cost and size is approximately 700' frontage on SOM <br />Center Rd. and 2400' in depth to I. 271 between Mr. Rivers and Mr. <br />Schulz property. Our solicitor, Mr. Edelman, was directed by Council <br />_ to obtain an option, for a$500.00 fee, to purchase at $3,000.00 per <br />acre the total, approximating 38 acres of land. This option will hold <br />for four months after election (ballot) date in November, 19720 <br />He then gave the following statistics: <br />835 post cards mailed out to residential homes in the village. <br />384 post cards returned by mail -- giving a 47/ response. <br />Pro - 190 or 49•5/ <br />Con - 194 or 50e5% <br />Total who favored package land development and pool numbered - 141. <br />Recreation land, all but pool numbered 49. Giving a 3 to 1 ratio, <br />Response shows that the total package should be placed on the ballot <br />( $420, 000 0 00 ) . <br />Mr. Cotton took random cards and read the remarks from 4 of each <br />category. <br />Cost to be projected $420,000.00 bond issue to run 20 years at g/4/. <br />Consideration must be given to first year interest cost. <br />$2.00 per $1,000.00 of home tax valuation was described as the mill- <br />age formula.