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EXHIBIT 1 <br /> <br /> INVITATION FOR PROPOSALS <br /> $2,112,000 CITY OF LAKEWOOD, OHIO <br />VARIOUS PURPOSE GENERAL OBLIGATION BOND ANTICIPATION <br /> NOTES - TEN ISSUES <br /> <br /> $257,000 1985 STREET IMPROVEMENT BOND <br /> ANTICIPATION NOTES'- 1989 RENEWAL <br /> <br /> $312,500 1986 STREET IMPROVEMENT BOND <br /> ANTICIPATION NOTES - 1989 RENEWAL <br /> <br /> $495,000 1987 STREET IMPROVEMENT BOND <br /> ANTICIPATION NOTES - 1989 RENEWAL <br /> <br /> $270,000 1988 STREET IMPROVEMENT BOND <br /> ANTICIPATION NOTES - 1989 RENEWAL <br /> <br /> $40,000 LAKE AVENUE IMPROVEMENT BOND <br /> ANTICIPATION NOTES - 1989 RENEWAL <br /> <br /> $82,500 WARREN ROAD IMPROVEMENT BOND <br /> ANTICIPATION NOTES - 1989 RENEWAL <br /> <br /> $125,000 BUNTS ROAD IMPROVEMENT BOND <br /> ANTICIPATION NOTES - 1989 RENEWAL <br /> <br />$150,000 1986 SIDEWALK IMPROVEMENT BOND <br />ANTICIPATION NOTES - 1989 RENEWAL <br /> <br />$80,000 1988 SIDEWALK IMPROVEMENT BOND <br /> ANTICIPATION NOTES - 1989 RENEWAL <br /> <br />$300,000 1989 SIDEWALK IMPROV~ BOND <br /> ANTICIPATION NOTES <br /> <br />DUE: May 11, 1990 <br /> <br />The City of Lakewood, Ohio (the "City") contemplates the issuance of <br />$2,112,000 Various Purpose General Obligal~ion Bond Anticipation Notes - <br />Ten Issues (the "Notes"), as more fully described in the enclosed Pre- <br />liminary Official Statement. The City is inviting written proposals, or <br />oral proposals, communicated by telephone, for the purchase, at not less <br />than par and accrued interest, of the Notes. Proposals will be received <br />by the Director of Finance of the City until 11:00 a.m. Eastern Daylight <br />Saving Time, on April 27, 1989, at the office of the Director of Finance <br />of the City at the address stated below. Split rate proposals or <br />proposals for less than all of the Notes will not be considered. Each <br />proposal shall specify the rate of interest which the Notes are to bear <br />and may specify a rate of interest after maturity different than the <br />rate prior to maturity, but no rate specified shall exceed the maximum <br />interest rate per annum of 15% determined by Council. Oral proposals <br />should be promptly confirmed in writing to the undersigned by the <br />bidders. <br /> <br />The Notes will be dated MAy 12, 1989 and will mature on May 11, 1990, <br />with no option in the City to redeem the Notes prior to maturity, unless <br />the original purchaser of the Notes requests that the Notes provide for <br />such redemption, in which case provision shall be made for calling the <br /> <br /> <br />