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RESOLUTION NO. 3459 BY Mr. Vickery <br /> <br /> A~ ~A~GENOY RESOLUTION approving the acceptance of the bid of, and <br />confirming the award of One Hundred Twenty Thousand Dollars ($120,000.00) <br />INCINERATOR ~dILDING AND IMPROVEM~ BONDS to be dated September. 1~ 1950 to Otis <br />& Cee, at a rate of interest of One and three-quarters percent (1 3/4%) per annum, <br /> <br /> t~tER~.Aa, Ordinance No, 4694, adop+~d by the Council of the City of Lek,wood <br />on Ju]~v 3, 1950~ provides~ that the advertisement for the sale of the INCINERATOR <br />B~ILDING AND IMPROV~U~.NT BO~DS shall state that anyone desiring $~ do so may present <br />a bid or Bids for such Bonds ~ased upon their bear~ nE a d~fferent rate of interest <br />than that fixed in the ordinance~ and <br /> <br /> WHE~FA.~ Otis & Co. did Bid a rate of eno and three-quarters (1 3/~%) <br />percent on the $120~000.00 INCINERATOR B~ILDING AND IMPBOVE~.NT BONDS which is a <br />different rate ef interest than speeified in said ordinance and in the advertise- <br />ment~ and <br /> <br /> WHE~.A.q~ an emergency exists in that funds are immediately needed to go <br />forward with the construction of the incinerator building and improvements as <br />heretofore authorized and to provide for the usual daily operation of a mnn~cipal <br />department, now therefore~ <br /> <br />~E IT RESOLVED BY THE COUNCIL OF THE CITY OF LA~wOCO, STATE OF OHIO: <br /> <br /> Section 1. That this Council hereby approves and ancepts the Bid of, <br /> and confirms the award and sale of the One Hundred Twenty Thousand Dollars <br />($120,000~00) INCINERATOR ~ILDi~G AND T~ROVFA~.NT BONDS to Otis & Co., at a rate <br /> of interest of one and three-quarters percent (1 3/4%) per anm~m, payable semi- <br /> annually, being a different rate of interest than specified in Ordinance No, 4694 <br /> and in the advertisement~ together with the pr~-m~um included in said ~id. <br /> <br />Said resolution shall be certified to tho County Auditor. <br /> <br /> Section 2, That this Resolution is hereby declared to Be an emergency <br />measure for the reasons stated.in th, preamble hereof and, provided it receives <br />the affirmative vote of tw~-thmrds (2/3) of all members elected to Council, it <br />shall take effect am~ be in force !-~,ediately upon its adoption and approval by <br />the Mayor, <br /> <br />Adopted:. <br /> <br />. August 9~ .1950 . <br /> <br />Wm. R. Fairgrieve <br /> <br /> President <br /> <br />Approved: ..... <br /> <br />August 10~ 1950 <br /> <br />H. A. Roes <br /> <br />Clerk <br /> <br />A. I. Kauffman <br /> <br />Mayor <br /> <br /> <br />