3726 - 56 Submit to electorate - issue bonds for Madison pool & bldg

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RESOLUTION NOo 3726 BY Mr. Gaydos A RESOLUTION determining to submit to the electors of the City of Lakewood, Ohio, the question of issuing bonds in the principal amount of two hundred fifty thousand dollars for the construction and equipment, furniture, furnishings and apparatus of a fireproof public Swimming Pool and Service Building at Madison Park. WHEREAS, This Council, on Julys2, 1956, adopted Resolution No. 3719, declaring the necessity of i~suing Madison Park Swimming Pool and Service Building Bends of the City of Lakewood in the prin- cipal amount of two hundred fifty thousand dollars for the purpose of constructing a swimming pool and service building at Madison Park and acquiring equipment, furniture, furnishings and apparatus for said swimming pool and service building and providing for the sub- mission to the electors of the Oity of Lakewood at the next November election the question of the issuance of said bonds and the levy~of a tax outside of the limitation imposed by Section 2 of Article XII of the Ohio Constitution, to pay the interest on and to retire said bonds; and WHEREAS, The Auditor of Ouyahoga County, Ohio, has certified to this Council his calculation of the average annual levy through- out the life of the bonds provided for in said Resolution Nco 3719, which will be required to pay the interest on and retire said bonds to be .0945 mills for each one dollar ($1.00) of valuation and .9550 cents for each eno hundred dollars ($100.00) of valuation; 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 bonds in the amount of two hundred fifty thousand dollars for the purpose of constructing a swimming pool and service building at Madison Park, and acquire equipment, furniture, furnishings and apparatus for said swimming pool and service building and to submit 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 directed to certify this resolution and Resolution No. 3719, adopted July 2, 1956, to the Board 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 .9550 cents for each one hundred dollars of valuation and as .09~5 mills for each one dollar of valuation, and the maximum number of years required to retire said bonds, namely, twenty-three years, which board of elections is hereby requested to prepare the ballots and make other necessary arrangements for the submission of the question to the voters of the City of Lakewood, including publi- cation of the notice of election in accordance with the provisions of Revised Code Sections 133.09 and 133.11. Section 2. That this resolution shall take effect and be in force from and after the earliest period allowed by lawo Adopted: July 16, 19~6 Approved:....July 17. 19~6 Thomas C. Ward 'President H. Ac Rees Clerk Frank ,p. Celeste Mayor