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RESOLUTION No. 550 <br />By Mr. Moan <br />A RESOISUTI0N ACCEPTING TAE HIGHEST BID F08 <br />$58 , 330. U0 OF SPECLAI. ASSESSMENT BONGS UPON <br />THE LOWSST RATE OF.INTEREST PAID BY,A _. <br />ItESPONSIBT~E BIDDER - - .. __ .. - l <br />WHEREAS, McDOPIALD & COMPANY, a responsible bidder, has presented a <br />bid for special assessment bonds dated August 1s~,1962, in the face amount <br />of $58,330.00, upon a rate of interest, namely 31/2% per annum and a. <br />premium of $300.OU; and _ <br />WHEREAS, said rate of interest is the same as that provided in <br />Ordinance No. 772, passed July 13, 1962. <br />NOW THEREFORE BE IT RESOLVED BY THE COUNCIL OF THE VILLAGE OF HAYFIELD, <br />CiTYAHOGA COUNTY OHIO , TRAT S , _ .. _ .. _ . _ _ _ . <br />Sec. 1. The bid of McDonald & Company be, and the same is, hereby <br />accepted, said bid being the highest based upon the lowest rate of interest, <br />other than the amount of interest set forth in said ordinance. <br />Sec. 2. Said bonds, after being executed and signed, according to law, <br />and according to said Ordinance No, 772 heretof ore passed by this Council, and <br />bearing the rate of interest provided in said accepted bid, be delivered by <br />the Clerk to said purchaser on compliance with the terms of said sale, <br />Sec, 3. The Clerk shall furnish the successful bidder a true transcript, <br />a statement of net indebtedness certified by him, and such officer shall <br />furnish such other information as required by said Ordinance No. 772 and as <br />provided by lawn . <br />Sec. 4. The Clerk be, and hereby is, directed to certify a copy of <br />this Resolution to the County Auditor of Cuyahoga County as required by law. <br />Sec. 5. This Resolution is hereby determined to be an emergency <br />measure, necessary for the immediate preservation of the public peace, health, <br />safety and welfare of the Village of tdayfield and its inhabitants, since funds <br />are required to pay the note issued in anticipation of the sale of said bonds <br />and therefore this Resolution shall go into immediate effect upon its adoptbon <br />as an emergency Resolution. <br />Adopted this 20th day of August, 1962, <br />_ - _. ~ <br />Mayor President of Council <br />(Seal) --G-1~erte ,r; <br />