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l- <br />U' i <br />RESOLUTION N0. 819 <br />By. MR. BRAUN <br />A RESOLiJTION DETERMINING TO SUBMIT TO THE ELECTORS OF <br />THE VILLAGE OF MAYFIELD THE QUESTION OF ISSUING BONDS <br />FOR THE PURPOSE OF PROVIDING RECREATIONAL FACILITIES FOR <br />THE VILLAGE, INCLUDING ACQUISITION OF THE SITE THEREOF, <br />AND CONSTRUCTION AND EQUIPMENT.OF SWIMMING, TENNIS, BASE- <br />BALL AND SOFTBALL, BASKETBALL, SRATING, AND OTHER <br />RECREATIONAL FACILITIES FOR ADULTS AND JUVENILES, UNDER <br />AUTHORITY OF OHIO REVISED CODE, SECTION 133.09. <br /> <br />I ?o <br />? <br />,?. <br />Be It Resolved by the Council of The Village of Mayfield, County <br />o£ Cuyahoga, and State of Ohio, that: <br />Section 1. For the purpose of providing recreational facilities <br />for the Village, including acguisition of the site thereof, and construction <br />and equipment of swimming, tennis, baseball and sof tball, basketball, skating, <br />and other recreational facilities for adults and juveniles, it is necessary to <br />levy bonds of this Village in the amount of $420,000.00, and it is necessary <br />to levy a tax outside the ten-mill limitation of Article XII, Section 2, of <br />the Ohio Constitution to pay the interest on and to retire said bonds. The <br />question of issuing said bonds and of levying said tax shall be submitted to <br />the Electors of this Village at the general election to be held on <br />November 7, 1972. The approximate date of said bonds will be March 1, 1973; <br />said bonds will mature in 20 annual installments after the authorization <br />thereof, and will bear interest at a rate now estimated at 5-3/4 percentum per <br />annum, payable semi.-annually. <br />Section 2. The Clerk-Treasuser shall certify a copy of this <br />Resolution to the Auditor of Cuyahoga County for his calculation of the average <br />annual tax levy required throughout the life of the bonds to pay the interest <br />on and to retire said bonds, assuming that they are all issued in one series <br />and the arnount.of the tax list of this Village remains the same throughout the <br />life of said bonds. <br />Section 3. This Resolution shall be in force and take effect <br />immediately upon its adoption. <br />Adopted this 17th day of July, ]fY <br />1 <br />Mayor - President of Council <br />?a <br />?t •-? <br />Attest: <br />(Se?]. Clerk-Treasurer