67-88 Traffic Signalization BAN $64,000

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EXHIBIT 1 INVITATION FOR PROPOSALS $2,916,000 CITY OF LAKEWOOD, OHIO VARIOUS PURPOSE GENERAL OBLIGATION BOND ANTICIPATION NOTES - SEVEN ISSUES $1,540,000 Sewer System Improvement Bond AnticiPation Notes - I988 Renewal $1,080,000 Foster Pool Improvement Bond Anticipation Notes - 1988 Renewal $100,000 Olive-Lake Water Main Improvement Bond Anticipation Notes - 1988 Renewal $62,000 Motorized Equipment Bond Anticipation Notes - 1988 Renewal $50,000 Cohassett Water Main Improvement Bond Anticipation Notes - 1988 Renewal $64,000 Traffic Signalization Bond Anticipation Notes - 1.988 Renewal $20,000 Parkside-McKinley Water Main Improvement Bond Anticipation Notes - 1988 Renewal DUE: August 25, 1989 The City of Lakewood, Ohio (the "City") contemplates the issuance of $2,916,000 Various Purpose General Obligation Bond Anticipation Notes - Seven Issues (hereinafter collectively referred to as the "Notes"), as more fully described in the enclosed Preliminary Official Statement. The City is inviting written proposals, or oral proposals, communicated by telephone, for the purchase, at not less than par and accrued inter- est, of the Notes. Proposals will be received by the Director of Finance of the City until 11:00 a.m. Eastern Daylight Saving Time, on August 15, 1988, at the office of the Director of Finance of the City at the address stated below. Split rate proposals or proposals for less than all of the Notes will not be considered. Each proposal shall specify the rate of interest which the Notes are to bear and may specify a rate of interest after maturity different than the rate prior to maturity, but no rate specified shall exceed the maximum interest rate per annum of 15% determined by Council~. Oral proposals should be promptly confirmed in writing to the undersigned by the bidders. THE NOTES ARE NOT "QUALIFIED TAX-EXEMPT OBLIGATIONS" FOR PURPOSES OF SECTION 265(b)(3) OF THE INTERNAL REVENUE CODE OF 1986. The Notes will be dated August 26, 1988 and will mature on August 25, 1989, with no option in the City to redeem the Notes prior to maturity.