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I <br /> i <br /> RESOLUTION N0. 3577 BY Mr. Fahrenbach <br /> AN EMERGENCY RESOLUTION apgproving the acceptance of the bid <br /> of and confirming the award of Tfiree Hundred Thousand Dollars <br /> 3$0,000.00) CITY PORTION - SEWER IMPROVEMENT BONDS to be dated <br /> ecember 1 1953 to Ryan, Sutherland & Co, and Stranahan Harris & <br /> Go. Jointly, at a rate of interest of two and one-fourt~i per cent <br /> (2-~/i~~j per annum. <br /> WHEREAS, Ordinance No. b7-53 adoppted by the Council of the <br /> City of Lakewood on October 5, 1953 provides that the advertise- <br /> - went for the sale of the CITY PORTION SEWE~ IMPROVEMENT BONDS <br /> shall state that anyone desiring to do so may present a bid or bids <br /> for such bonds based upon their bearing a different rate of interest <br /> than that fixed in the ordinance; and <br /> WHEREAS, Ryan, Sutherland & Co. and Stranahan, Harris & C©., <br /> Jointly, did bid a rate of two and ene-fourth pper cant (2-1/4~) on <br /> the Three Hundred Thousand Dollars 0300,000.00) CITY PORTION - <br /> SEWER IMPROVEMENT BONDS which is a different rate of interest than <br /> specified in said ordinance and in the advertisement; and <br /> WHEREAS, an emergency exists for the reasons that funds <br /> from the sale of said bonds are required forthwith in order to pro- <br /> ceed with the construction, reconstruction and repair of destro ed <br /> and damaged sewers in and near Highland Avenue (West. 117 Street; <br /> <br /> - and in that it provides for the public welfare and safety and the <br /> usual daily operation of a municipal department; now, therefore, <br /> BE IT RESOLVED BY THE COUNCIL OF THE CITY OF LAKEWOOD, <br /> STATE OF OHIO: <br /> Section 1. That this Council hereby approves the acceptance <br /> of the bid of, and confirms the award and sale of the Three Hundred <br /> Thousand Dollars 0300,000.00) CITY PORTION SEWER IMPROVEMENT <br /> BONDS to Ryan Sutherland & Co. and Stranahan Harris & Co., J©intly, <br /> at a rate of ~.nterest of two and one-fourth ('2-1/4%) per annum, <br /> ifiedlinsOrdinancelNo. 67353 andiinethetadvertisement:etogetherswith <br /> the premium included in said bid. The Glerk of Council is directed <br /> to certify a copy of this resolution to the County Auditor. <br /> "'°`A Section 2. That this resolution is hereby declared t© be <br /> an emergency measure for the reason stated in the preamble hereof <br /> and provided it receives. the affirmative note of two-thirds of all <br /> mem~iers elected to Council it shall take effect and be in force <br /> immediately upon its adopt#on. <br /> Adopted:- November 16. 1953 <br /> Ge~r~e F. Quinn <br /> Pres-rent - <br /> H. A. Rees <br /> Approved:. November 17. 1953 erk <br /> A. I. Kauffman <br /> Mayor <br /> <br />