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ORDINANCE NO. 94-82 <br /> <br />By: Brown, Gallagher, Graham, McBride, <br /> Salmon, Wendling <br /> <br /> AN EMERGENCY ORDINANCE to provide for the issuance of notes of <br />the City of Lakewood, Ohio, in anticipation of the issuance of bonds for <br />the purpose of paying the property owners' portion, in anticipation of <br />the levy and collection of special assessments, of the cost of improving <br />the municipal easement described in Resolution No. 5674 duly adopted by <br />the Council of the City of April 5, 1982, by constructing thereon a <br />Concrete breakwall with concrete modules, fill and end return. <br /> <br /> WHEREAS, pursuant to Ordinance No. 61-82, passed July 6, 1982, <br />this Council authorized the issuance of notes in anticipation of the <br />issuance of bonds in the principal amount of $165,000 for the purpose of <br />paying the property owners' portion, in anticipation of the levy and <br />collection of special assessments, of the cost of improving the municipal <br />easement described in Resolution No, 5674 duly adopted by the Council of <br />the City of APril 5, 1982, by constructing thereon a concrete breakwall <br />with concrete modules, fill and end return, which notes are dated <br />July 28, 1982 and will mature on December 14, 1982; and <br /> <br /> WHEREAS, the Director of Finance, as fiscal officer, has <br />certified to this Council that the estimated life of the improvement <br />hereinafter mentioned is at least five (5) years and has further certi- <br />fied the maximum maturity of the hereinafter mentioned bonds is ten (10) <br />years and that the maximum maturity of notes issued in anticipation of <br />said bonds is five (5) years from the date of issuance of the original <br />notes, or one (1) year if sold privately; and <br /> <br /> WHEREAS, this ordinance is an emergency measure which is <br />necessary for the immediate preservation of the public peace, property, <br /> <br /> <br />