3652 - 55 Submit to electors - issue bonds for admin bldg

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RESOI,C1T10N N0. 3652 $X Mr. Chookley AN EMERGENCY RESOLUTION determiningg to submit to the electors of the City of Lakewood Ohio the question of issuing bonds in the prinei- pal amount of One Mi~.lion Five Hundred Thousand Dollars 01,50® 000.©Oj for the purpose of constructing a Municipal Departments and Adm~.nistra- tion Building and acquiring equipment and furniture and furnishings ;for said building. WHEREAS, this Council on July 18 1955, adopted ~tesolution No. 36$1 declaring the necessity of issuing Municipal Departments and Admin~ istration Building Bonds of the City of Lakewood in the principal amount of One Million Five 13vndred Thousand Dollars (~1,500,ti00.0Oj for the ppurpose of constructing a Municipal Departments and Administration Build ing and acquiring equipment and furniture and furnishings for said build- ing and providing for the submission to the electors ©f the City of Lakewood at the next November election the question of issuing said bonds and the levy of a tax ~autside of the limitation impaaed by Article XII, Section 2 of the Constitution of the State of Qhio in order to pay the interest On and retire said bonds; and WHEREAS, the Auditor of 1'iuyahoga County, Ohio, has certified to this Council his calculation of the average annual levy throughout the life of the bonds provided for in said Resolution No. 3651, which will be required to pay the interest on and retire said bends to be .5534 mills for each one dollar (~1.00j of valuation and 5.534 cents for each one hundred dollars ($100.00) of valuation; and WHEREAS, this resolution is declared to be an emergencyy-for the reasons that the next November election mill be held November 8, 3955, that it is required of this Council to certify its resolution to the Board of Elections of the County not later than four p.m. of the nine- tieth day before the day of suoh election, that it is expected that this Council will be in vacation with the attendant elimination of council meetings for a period between the data of adopption of this resolution and the data in the month of August which will be the ninetieth day be» fore suoh November election and for the further reason that this reso-~ lution provides for the pubfic health, xelfare~and safety and the usna]. daily operation of a municipal d.epartmentj now, therefore, 8E IT RESOL9ED BY THW CO~TCIL ©F TH$ CTTY OF LAREWOOD, STATB OP" OHTOE Section i. That this Council desires to proceed with the issue of bonds in the amount of Ons Million Five Hundred Thousand Doila.rs 01,500 000.00) for the purpose ®f constructing a Municipal Departments 2 and Adm~.nistration Building and acquiring equipment and furniture and furnishings for said building and to submit the question of issuing said bonds to the electors of the City of Lakewood, Ohioj that the Clerk N of this Council be, and he is hereby, directed to certifyy this resolu- tion and Resolution No. 3657. adopted duly 18, 1955, to the Board of Elections o£•Cuyahoga County, Qhio, together with the amount of the aver« age tax levy, expressed itt dollars and cants, for each one hundred doll- ars of valuation, as well as in mi11s for each one dollar of valuation, estimated by the County Auditor as 5.534 cents fox each one hundred dol).ars of valuation and as .5534 mills for each .one dollar of valuation, and the maximum number of years required to retire said bonds,. namely, twenty-three (23j years, which Board of Elections is hereby requested to prepare the ballots and make other necessary arrangements for the sub- mission of the question to the voters of the City of Lakewood including publication of the notice of the election fn accordance with the provi- aions of Revised Code, Sections 133.Og and 133.7.1. Section 2. That this resolution is hereby declared to b® an emergency measure for the reasons stated in the preamble hereof and, pro-