3494 - 51 Submit to electors: issue Hosp. Improvement Bonds

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RESOLUTION NO. 3494 BY Mr. Gottermeyer AN W.~E~iGENCY RESOLUTION determining to submit to the electors of the City of Lakewood, Ohio, the question of issuing bonds in the sum of Three Hundred Thousand Dollars ($300,000,00) for the purpose of construction and improvement of fireproof buildings and for the purchase of furniture and furnishingse WHEREAS, this Council on June 18, 1951, adopted Resolution No. 3493 declaring the necessity of issuing Lake~ood Hospital Bonds of the City of Lakewood in the sum of Three Hundred Thousand Dollars ($300,000,00) for the purpose of construction and improvement of fireproof buildings and for the purchase of furniture and furnishings and providing for the su~tssion to the electors of the City of Lakewood at the next November election the question of issuing said bonds and the levy of a tax outside of the limitation imposed by Article XII, Sectzion 2 of the Constitution of the State of Ohio in order to pay the interest on and retire said bonds, and WHEREAS, the Auditor of Cuyahoga County, Ohio, has certified to this Council his calculation of the average annual levy throughout the life of the said bonds provided for in said Resolution No. 3493, which will be required to pay the interest on and retire said bonds, assuming that they are all issued in one series and that the amount of the tax list of the 'City of Lakewood remains throughout the life of said bonds the same as the amount of the tax list for the current year, to be .2058 mills for each one dollar ($1.00) of valuation and 2.058 cents for each one hundred dollars ($100,00) of valuation, and %~REASa an eme. rgency exists in that the next. November election will be held on November 6, 1951; in that it is required of this Council to certify its resolution to the Deputy State Supervisors of Elections of the County more than forty (40) days prior to said election; in that it is expected that this Council will be in vacation with the attendant elimination of council meetings for a period between this date and the date of said election; and in that this ordinance provides for the public health, welfare and safety and the usual daily operation of a municipal department, now, therefore, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF LAKEWOOD, STATE OF OHIO: Section 1. That this Council desires to proceed with the issue of said bonds in the amount of Three Hundred Thousand DoLlars ($300,000.00) for the purpose of construction and improvement of fireproof buildings and for the purchase of furniture and furnishings and to su~it the question of issuing said bonds to the electors of the City of Lakewood, Ohio; that the Clerk of this Council be, and he is hereby, ~twected to certify this resolution and Resolution No. 3493 adopted June 18, 1951, to the Deputy State Supervisors of Elections of Cuyahoga County, Ohio, together with the amount of the average tax levy, expressed in dollars and cents, for each one hundred dollars of valuation, as well as in mills for each one dollar of valuation, estimated by the County Auditor as 2e058 cents for each one hundred dollars of valuation and ,2058 mills for each one dollar of valuation, and the maximum number of years requ/red to retire said bonds, namely, sixteen (16) years, and to give notice of such election in accordance with the provisions of Section 2293-21 of the General Code of Ohio. Section 2e That this resolution is hereby declared to be an emergency measure for the reasons stated in the preamble hereof and, provided it receives the affirmative vote of two-thirds of all members elected to Council it shall take effect and be in force ~mediately upon its adoption and approval by the Mayor. Adopted: July 2, 1951 Wm. R~ Fairgrieve President Ho Ac Rees Approved: July 3, 1951 Clerk A. I. Kauffman Mayor