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RESOLUTION NO. 3679 BY Mr. Fairgrieve <br /> <br /> AN EMERGENCY RESOLUTION requesting the Director of Finance to <br />file a Certificate of Maturity in connection with the issuance of one <br />hundred thousand dollars of - Water Main Bonds° <br /> <br /> WHEREAS, This Council contemplates issuing one hundred thous- <br />and dollars of bonds for the purpose of improving the water distribu- <br />tion system by installing a 12,, main in McKinley Avenue from Riverside <br />Drive to Madison, and replacing the existing 6" main with a 12" main <br />in Riverside Drive between Madison Avenue and West Clifton Blvd., with <br />necessary valves, hydrants and other appurtenances incidental and <br />necessary thereto, and <br /> <br /> WHEREAS, Sections 133.21 and 133.2~ of the Revised COde re- <br />quire the fiscal officer of the City to certify to this Council the <br />estimated life of the property, asset or improvement, proposed to be <br />acquired or constructed from the proceeds of said bonds and also <br />certify to this Council the maximum maturity of such bonds, calcu- <br />lated in accordance with the provisions of Section 133.20 of the <br />Revised Code, including the weighted average of the amount proposed <br />to be expended for this improvement, and <br /> <br /> WHEREAS, The Director of Finance is the fiscal officer of the <br />City as defined in Section 133.01 of the Revised Code, and <br /> <br /> WHEREAS, An emergency exists in that it is necessary to im- <br />prove the water distribution system of the City of Lakewood and that <br />it is for the immediate preservation of the public peace, property, <br />health or safety, or providing for the usual daily operation of a <br />municipal department, now, therefore, <br /> <br /> BE IT RESOLVED BY THE CONNCIL OF THE CITY OF LAKEWOOD, STATE <br />OF OHIO: <br /> <br /> Section 1o That the Director of <br />requested to certify to this Council his <br />timated life of such improvement and the <br />bonds, with such other information as is <br /> <br />Finance be and he is hereby <br />conclusions as to the es- <br />maximum maturity of such <br />required by law. <br /> <br /> Section 2. That this resolution is hereby declared to be an <br />emergency measure for the reasons stated in the preamble hereof, and <br />provided it receives the affirmative vote of two-thirds of all members <br />elected to Council, it shall take effect and be in force immediately <br />upon its adoption and approval by the Mayor. <br /> <br />Adopted:.March 5, 1956 <br /> <br />Thpmas C. Ward <br /> President <br /> <br />H. A. Rees <br /> <br />Approved: March 8, 1956 ' Clerk <br /> <br />Frank Po Celeste <br /> <br />Mayor <br /> <br /> <br />