3936 - 59 Certificate of Maturity - Lake Ave Improvement Bonds

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RESOLUTION NO. 3936 BY: Messrs. Fahrenbach, Fairgrieve, Gaydos, Gottermeyer, Lawther, Ward. A RESOLUTION requesting the Director of Finance of the City of Lakewood to file a eertifioate of Maturity in connection with the issu- ance of seventy two thonsand dollars "Lake Avenue Improvement Bonds". ~fHEREAS, This Ceumcil contemplates issuing seventy two thousand dollars in honds to provide a fund for the purpose of resurfacing, grad- lng and draining Lake Avenue within the City ef Lakeweod, and ~EREAS, Sections 133.21 and 133.25 of the Revised Code provide that before any resolution, ordinance or other measure providing for the issuance of bonds is passed or adopted, the fiscal officer shall certify te the bend issmimg authority the maximum maturity ef such bends calculated in accordance with the previsions ef Section 133.20 ef the Revised Code, including the weighted average of the amounts proposed te be expended for the several classes ef the improvements aud, also, that the fiscal officer shall certify the estimated life of the asset, prep- erty, construction or permanent improvements proposed te be acquired, constructed, improved, extended or enlarged from the proceeds of said bends, and WHEREAS, The Director ef Finance is the fiscal officer ef the City of Lakewood as defined in Section 133.01 of the Revised Code, now, therefore, BE IT RESOLVED BY THE CO~CIL OF THE CITY OF LAKEWOOD, STATE OF OHIO: Section 1. That the Director of Finance be and he is hereby requested te certify to this Council his conclusions as to the estimated life of such improvement and the maximum maturity of ~aid bends, together with such other information as may be required by law. Section 2. That this reselntion shall take effect and be in force immediately upon its adoption and approval by the Mayor. Adopted: J,~ne 22. 1959 Approved:. Jume 23.,. T~.emas C. Ward PreSiden~ ,, H. A. Roes Frank P. Celest~ Mayer