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RESOLUTION NO. 3741 BY Mr. Gottermeyer <br /> <br /> AN E~ERGENCY RESOLUTION approving the acceptance of the bid of, <br />and confirming the award of one hundred thousand dollars ($100,O00.00) <br />BREAKWALL IMPROVEMENT BONDS to be dated October l, 1956 to Hayden, <br />Miller & Co. at a rate of interest of three and one-fourth per cent <br />(3-1/4%) pe~ annum. <br /> <br /> WHEREAS, Ordinance No. 82-56 adopted by the Council of the City <br /> i ' <br />of Lakewood on August 5, 1956 provmdes, that the advertisement for the <br />sale of the BREAKWALL IMPROVEmeNT BONDS shall state that anyone desir- <br />ing to do so may present a bid or bids for such bonds based upon their <br />bearing a different rate of interest than that fixed in the ordinance; <br />and <br /> <br /> WHEREAS, Hayden-~ller & Co. did bid a rate of three and one- <br />fourth per cent (3-1/4%) on the one hundred thousand dollars ($100,000.) <br />BREAKWALL IMPROVEMENT BONDS which is a different rate of interest than <br />specified in said ordinance and in the advertisement; and <br /> <br /> WHEREAS, an emergency exists to provide for the public w~lfare <br />and safety and the usual daily operation of a municipal department; now, <br />therefore, <br /> <br />OHIO: <br /> <br />BE IT RESOLVED BY THE COUNCIL OF THE CITY OF LAKEWOOD, STATE OF <br /> <br /> Section 1. That this Council hereby approves the acceptance of <br />the bid of, and confirms the award and sale of the one hundred thousand <br />dollars ($100,000.00) BREAKWALL IMPROVEMENT BONDS to Hayden-Miller & <br />Co. at a rate of interest of three and one-fourth per cent (3-1/&%) per <br />annum,.pay~ble semi-annually, being a different rate of interest than <br />specifmed mn Ordinance No. 82-56 and in the advertisement, together with <br />the premium included in said bid. The Clerk of Council is directed to <br />certify a copy of this resolution to the County Auditor. <br /> <br /> Section 2. That this resolution is hereby declared to be an <br />emergency measure for the reason 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. <br /> <br />Adopted: <br /> <br />September 17~ 1956 <br /> <br />Thomas C. Ward <br /> President <br /> <br />Approved:. September 18, 1956 <br /> <br />H. A. Rees <br /> <br />Clerk <br /> <br />FrankP. Celeste <br /> Mayor <br /> <br /> <br />