Laserfiche WebLink
SUBSTITUTE: Placed on I" Reading & Referred <br />to Finance Committee 2/1/16. <br />Second Reading 2/16/16. <br />CERTIFICATE OF ESTIMATED LIFE AND MAXIMUM MATURITY <br />To: The City Council of the <br />City of Lakewood, Ohio <br />The estimated life of the improvements described as follows (the "Improvements ") <br />exceeds five years: <br />(I) (A) the City's West End Sewer Separation project, together with all necessary <br />appurtenances thereto, (B) resurfacing various streets in the City, (C) improving parks <br />within the City, including Lakewood Park, Wagar Park and the Lakewood Park State <br />House, together with all necessary appurtenances thereto, (D) improving sidewalks <br />within the City and (E) replacing or improving the roofs of City Hall, City Hall Annex, <br />Winterhurst Ice Rink and the City's service garage and (II) retiring the City's Various <br />Purpose Improvement Notes, Series 2014, which were issued to pay costs of (A) <br />improving Madison Avenue by providing new traffic signalization; (B) improving and <br />renovating the refuse facility; (C) replacing the roof on City Hall; (D) resurfacing various <br />streets in the City; (E) improving Detroit Avenue, Franklin Street, Hilliard Street and <br />Madison Avenue by providing new and upgraded traffic signalization and pedestrian <br />signals; (F) improving the municipal garage ventilation system; (G) improving parks <br />within the City, including Lakewood Park, Wagar Park and the Lakewood Park Skate <br />House, together with all necessary appurtenances thereto; (viii) reconstructing Madison <br />Avenue; (H) constructing a sheet pile bulkhead, docks and a parking area, together with <br />all necessary appurtenances thereto; (I) improving sidewalks within the City, (J) <br />replacing a salt storage facility and (K) improving the sewer system in the City by <br />constructing the West End Sewer Separation project and a new sanitary sewer and <br />improvements and renovations to the existing sanitary sewers and storm water sewers <br />along Edgewater Drive, together with all necessary appurtenances thereto. <br />2. The amounts proposed to be expended for various classes of improvements, and the <br />maximum maturity of bonds issued for such purposes, calculated in accordance with <br />Section 133.20, Ohio Revised Code, are as follows: <br />A. Improving the sewer system in the City by constructing the West End Sewer <br />Separation project and a new sanitary sewer and improvements and renovations <br />to the existing sanitary sewers and storm water sewers along Edgewater Drive, <br />together with all necessary appurtenances thereto; 40 years <br />B. (I) The City's West End Sewer Separation project, together with all necessary <br />appurtenances thereto, (II) replacing the roof on City Hall, (111) improving <br />Madison Avenue by providing new traffic signalization, (IV) improving and <br />renovating the refuse facility, (V) improving Detroit Avenue, Franklin Street, <br />Hilliard Street and Madison Avenue by providing new and upgraded traffic <br />signalization and pedestrian signals, (VI) improving the municipal garage <br />ventilation system, (VII) reconstructing Madison Avenue and (VIII) replacing a <br />salt storage facility; 20 years <br />C. Constructing a sheet pile bulkhead, docks and a parking area, together with all <br />necessary appurtenances thereto; 16 years <br />9877291A <br />