56-81 Bond counsel - issuance of debt obligations

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ORDINANCE 56-81 BY: Brown, Chinnock, Gallagher, Graham McBride, Salmon, Wendling AN EMERGENCY ORDINANCE authorizing the Mayor ro execute a contract retaining Calfee, Halter & Griswold as bond counsel with respect to the issuance of debt obligations of the City of Lakewood, Ohio. WHEREAS, the City of Lakewood, Ohio (the "City") will under- take permanent ~mprovements to the City's Wastewater Treatment Plant and its ancillary systems, Lakewood Hospital and other permanent improve- ments of the City, and WHEREAS, it will be necessary for the City to issue bonds and bond anticipation nones to finance a part of the costs of such improve- ments, and WHEREAS, the City has received proposals from and interviewed several competent law firms who were willing to serve-as bond counsel with respect to the issuance of bonds and bond anticipation notes and other necessary financings, and WHEREAS, the City desires to retain the firm of Calfee, Halter & Griswold (the "Bond Counsel") to provide professional legal services as counsel to the City with respect to the issuance of bonds and notes for such permanent improvements, and WHEREAS, the firm of Catfee, Halter & Griswold is willing and able to provide professional legal services as the City's bond counsel, and WHEREAS, this ordinance constitutes an emergency measure providing for the immediate Freservation of the public peace, health, safety and welfare since it is immediately necessary to retain Bond Counsel so than notes in the anticipation of bonds may be authorized and issued at the earliest possible time in order to support contracts that are to be awarded for the improvement of the City's Wastewater Treatment Plant and its ancillary systems in accordance with the Lakewood Facility Plan, and to permit the City, its designated underwriters and Bond Counsel to proceed with preparations for permanent debt financing of ~mprovemenns no such Wastewater Treatment Plant and systems and to proceed with preparations for debt financings for improvements to Lakewood Hospital an the earliest possible time; now, therefore, OF OHIO: BE IT ORDAINED BY THE COUNCIL OF THE CITY OF LAKEWOOD, STATE Section 1. That the Mayor be and he hereby is authorized and directed to execute a contract (in a form substantially similar to the contract attached to this ordinance as Exhibit A) engaging the firm of Calfee Halter & Griswold as Bond Counsel to provide professionaI legal services to the City as an independent contractor with respect to the authorization and issuance of bonds and notes in anticipation of bonds or other appropriate debt financings for improvements to the City's Wastewater Treatment Plant and its ancillary systems, Lakewood Hospital and other specific improvements as identified in said contract, other than Future Projects. Bond counsel shall be paid the sum of $41,000.00 for its services under said contract other than with respect to Future Projects and a sum not to exceed $2,050.00 to reimburse Bond Counsel for its expenses, other than expenses with respect to Future Projects. The contract shall also engage Bond Counsel with respect to Future Projects based on ~ schedule of fees as set forth in the contract. Section 2. That to pay for the services and expenses of 'Bond Counsel, other than services and expenses with respect to Future Projects, under the Contract authorized by Section 1 of this Ordinance, there is hereby appropriated the following amounts from the funds as hereinafter