3558 - 53 Certify max maturity of bonds

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) i RESOLUTION DTO. 3558 BY Mr, Gottermeyer AiV E[~.ERGENCY RESOLUTION requesting the Director of Finance to certify to this Council the maximum maturity of bonds in the amount of Seventy Thousand Dollars ($$70,000000) proposed to be issued for the purpose of constructing a fireproof public swimming pool, changing the line of roads in connection therewith, the pur- chase of furniture and furnishings, playground apparatus, landscape planting, black topping, tiling, fencing the area and replacing and installing water service facilities, together with an estimate of the life of said improvement. WHES~EAS, this Council contemplates issuing Seventy Thousand Dollars 070,000,00) of 5+~+~*mm~ng Pool Bonds from the proceeds of which Forty-five Thousand Dollars 045,000000) is to be used for the construction of a fireproof public swim- ming pool and changing the line of roads in connection therewith, Ten Thousand Dollars (~10,000.Q0) is to be used for the purchase of furniture and furnishings, playground apparatus and landscape planting, and Fifteen Thousand Dollars ($p`15,000o00) N4 for black topping, tiling and fencing the. area, and replacing and installing water service facilities, and Y~IiEREAS, Section 229,3:-2 and zz93-10 of the General Code require the fiscal officer of the City to certify to this Council the estimated life of the improvement proposed to be constructed from the proceeds of said bonds and also to certify to this Council the maximum maturity of such bonds calculated in accordance with pro- visions of Section 2293-9 of the General Code, including the weighted average of the amounts proposed to be expended for said different classes of improvement, and ~ WI~:R.EAS, the Director of Finance is the fiscal officer of the City of Lakewood, as defined in Section 2293-1 of the General Code, and WHEg7.EAS, an'emergency exists in that the amount of bonds heretofore auth- orized will be insufficient to proceed with the construction of the swimming pool as originally planned; in that this Council considers the issuance of additional bonds is immediately necessary in order to proceed with such improvement; and in order to provide for the public health, welfare and safety and the usual daily oper- ation of a municipal department, now, therefore, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF LAKENi00D, STATE OF OHIO: 4 Section 1. That the Director of Finance be and he is hereby requested to certify to this Council his conclusions as to the estimatedlife of such improve- $ went and the maximum matuxity of such bonds with such other information as may be required by law. Section 20 This resolution is hereby declared to be an emergency measure for the reasons stated in the preamble hereof and, provided it receives the affirm- ative vote of two-thirds of a71 members elected to Council, it shall take effect and be in force immmediately upon its adoption and approval by the.Mayor. Adopted: June 1'~ 1953 Yfin. R. Fair~rieve Vice President of Council H, A. Rees Clerk of Council Approved: June 17, 1953 A. I. Kauffman Mayor