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Placed on 1st reading &
<br />referred to Finance 12/17/18;
<br />2nd reading 1/7/19
<br />Anderson, Bullock, George, Litters,
<br />ORDINANCE NO. 65 -18 By: O'Leary, O'Malley,. Rader
<br />AUTHORIZING THE ISSUANCE OF NOT TO EXCEED $18,000,000 OF BONDS FOR THE PURPOSE
<br />OF CURRENTLY REFUNDING NOTES ISSUED FOR THE PURPOSE OF (I) DESIGNING,
<br />PERMITTING, ENGINEERING AND CONSTRUCTING SEWER IMPROVEMENTS, TOGETHER
<br />WITH ALL NECESSARY APPURTENANCES THERETO, (II) DESIGNING, ENGINEERING AND
<br />CONSTRUCTING WATER IMPROVEMENTS, TOGETHER WITH ALL NECESSARY
<br />APPURTENANCES THERETO, (III) IMPROVING PARKS WITHIN THE CITY, INCLUDING KIDS
<br />COVE PLAYGROUND AND KAUFMANN PARK, TOGETHER WITH ALL NECESSARY
<br />APPURTENANCES THERETO, (IV) IMPROVING SIDEWALKS WITHIN THE CITY (V)
<br />DESIGNING, ENGINEERING, AND CONSTRUCTING IMPROVEMENTS AND INSTALLING A
<br />RETAINING WALL ON THE NORTHERLY PROPERTY LINE OF THE WINTON CLIFF TO
<br />STABILIZE THE EXPOSED SHALE BLUFF, (VI) IMPROVING LAKE AVENUE AND MAPLE
<br />CLIFF DRIVE AND OTHER STREETS LOCATED WITHIN THE CITY, BETWEEN CERTAIN
<br />TERMINI, BY RESURFACING AND REPLACING CONCRETE, TOGETHER WITH ALL
<br />NECESSARY APPURTENANCES THERETO, (VII) DESIGNING, ENGINEERING AND
<br />CONSTRUCTING DRAINAGE IMPROVEMENTS, TOGETHER WITH ALL NECESSARY
<br />APPURTENANCES THERETO, (VIII) IMPROVING ANDREWS AVENUE, ATHENS AVENUE,
<br />CHESTERLAND AVENUE, CONCORD DRIVE, DELAWARE AVENUE, ERIE CLIFF DRIVE,
<br />HALL AVENUE, LAKE POINT DRIVE, LEEDALE AVENUE, LEONARD AVENUE, MARS
<br />AVENUE, MCKINLEY AVENUE, NORTHWOOD AVENUE, RICHLAND AVENUE, SHAW
<br />AVENUE AND WEST 117TH STREET, AND OTHER STREETS LOCATED WITHIN THE CITY,
<br />BETWEEN CERTAIN TERMINI, BY RESURFACING AND REPLACING CONCRETE, TOGETHER
<br />WITH ALL NECESSARY APPURTENANCES THERETO; (IX) PROVIDING, CONSTRUCTING
<br />AND INSTALLING A REVETMENT ON THE NORTHERLY PROPERTY LINE OF THE
<br />MERIDIAN CONDOMINIUM TO PROTECT THE MERIDIAN CONDOMINIUM'S WESTERLY
<br />PROPERTY LINE WITH LAKE ERIE, EASTWARD TO THE INTERSECTION OF MERIDIAN
<br />CONDOMINIUM'S EASTERLY PROPERTY LINE WITH LAKE ERIE, (X) IMPROVING
<br />FRANKLIN AVENUE AND HILLIARD ROAD, BETWEEN CERTAIN TERMINI, BY PROVIDING
<br />NEW TRAFFIC SIGNALIZATION, TOGETHER WITH ALL NECESSARY APPURTENANCES
<br />THERETO AND (XI) REPLACING OR IMPROVING ROOFS OF THE PUBLIC WORKS GARAGE,
<br />THE FIRE STATION, WINTERHURST ICE RINK AND OTHER PUBLIC BUILDINGS, TOGETHER
<br />WITH NECESSARY APPURTENANCES THERETO; APPROVING RELATED MATTERS IN
<br />CONNECTION WITH THE ISSUANCE OF THE BONDS; AND DECLARING AN EMERGENCY
<br />WHEREAS, the City Council (the "Council ") of the City of Lakewood, Ohio (the "City ") has
<br />issued notes dated March 29, 2018, in the aggregate principal amount of $32,287,000, which will mature on
<br />March 29, 2019 (the "Outstanding Notes "), in anticipation of the issuance of bonds described herein, for the
<br />purpose stated in the title of this Ordinance; and
<br />WHEREAS, it appears advisable to retire a portion of 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 "),
<br />which is to be constructed from the proceeds of the bonds herein authorized cannot exceed the maximum
<br />maturity 22 years; and
<br />133548910 3
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