3937 - 59 Request certificate of maturity for Street improvement bonds

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~S8L~TION N~. 3937 BY: I~essrs. Gay4os, Gettermeyer, Lawther, Ward, Fahrenbach. anco of fifty thousand dollars "Street Improvement Bends". WHERE~, This Cemmcil contemplates issuing fifty thomsand dollars in~ bends te provide a fmnd for the pmrpese of improving the streets ef the City of Lakewood by landscape planting and the removing oftrees, and the acqmisitien of a stump remover, and WHEREAS, Sections 133.21 and 133.25 of the Revised Code provide that before anF re,elation, ordinance er ether measmre providing for the issuance of bends ms passed er adopted, the fiscal officer shall certify te the bend issuing authority the maximum mat~rity ef smch bonds calcm- la~ed in accordance ~th the provisions of Section 1S3.20 ef the Revised Code, iacludinE the weighted average of the amomnts proposed te be ex- pended for thelseveral classes of the improvements and, also, that the fiscal efficerlshall certify the estimated life of the asset, property, construction er permanent improvements proposed te be acq~red, eon- strmcted, improved, extendedlLor emlarged from the proceeds of said bends, WHEREAS, The Director of Finance is the fiscal officer of the City of Lakewoed as defined in section 133.©1 of the Revised Cede, now, therefore, BE IT RESOLVED BY THE CO~CIL!~OF THE CITY GF LAKEWOOD, STATE OF GHIO: Section 1. That the Director of Finance be and he is hereby re- quested te certify to this Comacil his conclusions as te the estimated life of such e~aipment and improvement and the maximum matmrity ef said bends, together with such ether information as may be reqmired by law. Sectie~ 2. That this resolution shal~ take effect and be in force immediately upon its adoption and approval by the Mayor. Adopted: J~e,,!22, 1959 Approved: J~e!23, 19~9 Thomas C. Ward President H. A. Roes Clerk Frank P. Celeste ~yor