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SUBSTITUTE: Placed on I" Reading & Referred <br />to Finance Committee 2/1/16. <br />Second Reading 2/16/16. <br />ORDINANCE NO. 5-16 By; Anderson, Bullock, Litten,, <br />Marx, Nowlin, 0 Learyq olmalley <br />AUTHORIZING THE ISSUANCE OF NOT TO EXCEED $18,000,000 OF BONDS FOR THE <br />PURPOSE OF CURRENTLY REFUNDING NOTES ISSUED FOR THE PURPOSE OF (I) (A) THE <br />CITY'S WEST END SEWER SEPARATION PROJECT, TOGETHER WITH ALL NECESSARY <br />APPURTENANCES THERETO, (B) RESURFACING VARIOUS STREETS IN THE CITY, (C) <br />IMPROVING PARKS WITHIN THE CITY, INCLUDING LAKEWOOD PARK, WAGAR PARK AND <br />THE LAKEWOOD PARK STATE HOUSE, TOGETHER WITH ALL NECESSARY <br />APPURTENANCES THERETO, (D) IMPROVING SIDEWALKS WITHIN THE CITY AND (E) <br />REPLACING OR IMPROVING THE ROOFS OF CITY HALL, CITY HALL ANNEX, <br />WINTERHURST ICE RINK AND THE CITY'S SERVICE GARAGE AND (11) RETIRING THE <br />CITY'S VARIOUS PURPOSE IMPROVEMENT NOTES, SERIES 2014, WHICH WERE ISSUED TO <br />PAY COSTS OF (A) IMPROVING MADISON AVENUE BY PROVIDING NEW TRAFFIC <br />SIGNALIZATION; (B) IMPROVING AND RENOVATING THE REFUSE FACILITY; (C) <br />REPLACING THE ROOF ON CITY HALL; (D) RESURFACING VARIOUS STREETS IN THE CITY; <br />(E) IMPROVING DETROIT AVENUE, FRANKLIN STREET, HILLIARD STREET AND MADISON <br />AVENUE BY PROVIDING NEW AND UPGRADED TRAFFIC SIGNALIZATION AND <br />PEDESTRIAN SIGNALS; (F) IMPROVING THE MUNICIPAL GARAGE VENTILATION SYSTEM; <br />(G) IMPROVING PARKS WITHIN THE CITY, INCLUDING LAKEWOOD PARK, WAGAR PARK <br />AND THE LAKEWOOD PARK SKATE HOUSE, TOGETHER WITH ALL NECESSARY <br />APPURTENANCES THERETO; (VIII) RECONSTRUCTING MADISON AVENUE; (H) <br />CONSTRUCTING A SHEET PILE BULKHEAD, DOCKS AND A PARKING AREA, TOGETHER <br />WITH ALL NECESSARY APPURTENANCES THERETO; (1) IMPROVING SIDEWALKS WITHIN <br />THE CITY, (J) REPLACING A SALT STORAGE FACILITY AND (K) IMPROVING THE SEWER <br />SYSTEM IN THE CITY BY CONSTRUCTING THE WEST END SEWER SEPARATION PROJECT <br />AND A NEW SANITARY SEWER AND IMPROVEMENTS AND RENOVATIONS TO THE <br />EXISTING SANITARY SEWERS AND STORM WATER SEWERS ALONG EDGEWATER DRIVE, <br />TOGETHER WITH ALL NECESSARY APPURTENANCES THERETO; APPROVING RELATED <br />MATTERS IN CONNECTION WITH THE ISSUANCE OF THE BONDS; AND DECLARING AN <br />EMERGENCY <br />WHEREAS, the Council of the City (the "Council ") issued Various Purpose Improvement Notes, <br />Series 2015, dated April 9, 2015, in the original principal amount of $17,375,000 (the "Outstanding Notes "), <br />in anticipation of the issuance of bonds described herein, for the purpose stated in the title of this Ordinance; <br />and <br />WHEREAS, it appears advisable to retire the Outstanding Notes; and <br />WHEREAS, the Director of Finance of the City (the "Director of Finance ") has certified to this <br />Council that the estimated life of the improvements stated in the title of this ordinance (the "Project "), which <br />is to be constructed from the proceeds of the bonds herein authorized cannot exceed the maximum maturity <br />20 years; and <br />98n291v4 3 <br />