3816 - 57 Submit to electorate - issue bonds for muni/admin bldg

Home Browse Search

RESOLUTION NOo 3816 BY: Messrs. Gottermeyer, Ward, Chockley, Fahrenbach, Fairgrieve, Gaydoso A RESOLUTION determining to submit to the electors of the City of Lakewood, Ohio, the question of issuing bonds in the principal amount of one million seven hundred fifty thousand dollars for the construction of a municipal departments and administration building. WHEREAS, This Council, on July 15, 1957, adopted Resolution No. 3812, declaring the necessity ef issuing municipal departments and ad- ministration building bonds of the City of Lakewood in the principal amount of one million seven hundred fifty thousand dollars for the pur- pose of constructing a municipal departments and administration building, and providing for the submission to the electors of the City of Lakewood at the next November election the question ef the issuance ef said bonds and the levy of a tax outside of the limitation imposed hy Section 2 of Article XII of the Ohio Oonstitution, to pay the interest on and to re- tire said bonds; and WHERE~S, .The Auditor of Cuyahoga County, Ohio, has certified to this Councml hms calculation of the average annual levy throughout the life of the bonds provided for in said Resolution No. 3812, which will be required to pay the interest on and retire said bonds to be °6228 mills for each one dollar ($1.00) of valuation and 6.228 cents 'for each one hundred dollars ($100.00) of valuation; now, therefore, OHIO: BE IT RESOLVED BY THE COUNCIL OF THE CITY OF LAKEWOOD, STATE OF Section 1. That this Council desires to proceed with the issue of bonds in the amount of one million seven hundred fifty thousand dollars for the purpose of constructing a municipal departments and administration building, and to submit the question of issuing said bonds to the electors of the Oity of Lakewood, Ohio; that the Clerk of this Council be, and he is, hereby directed to certify this resolution~ and Resolution No° 3812, adopted July 15, 1957, 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, esti- mated by the County Auditor as 6.228 cents for each one hundred dollars of valuation and as .6228 mills for each one dollar of valuation, and the maximum number of years required to retire said bonds, namely, twenty-five years, which Board of Elections is hereby requested to pre- pare 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 election in accordance with the provmsmons of Revised Code Sections 133.O9 and 133.11. Section 2. That this resolution shall take effect and be in force from and after the earliest period allowed by law. Adopted: July 22., 1957 Approved: July 23, 1957 Thomas O. Ward President Ho A. Roes Cler~ Frank P. Celeste ~iayor