4005 - 60 Certificate of maturity - Water main bonds

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RESOLUTION NO. 4005 BY: Messrs. Huffman, Lawther, Ward, Williamson, Chockley, Gaydos, Gottermeyer. A RESOLUTION requesting the Director of Finance to file a cer- tificate of maturity in connection with the issuance of two hundred and five thousand dollars of - Water Main Bonds of the City cf Lakewood, Series B. WHEREAS, This Council contemplates issuing two hundred and five thousand dollars of bonds for the purpose of improving the water distribution system by installing mains and the necessary valves, hy- drants and other appurtenances incidental and necessary thereto, and, WHEREAS, Sections 133.R1 and 133.~4 of the Revised Code re- quire the fiscal officer of the City to certify to this Council the estimated life of the property, asset or improvement, proposed to be acquired or constructed from the proceeds of said bonds and also to certify to this Council the maximum maturity of such bonds, calculated in accordance with the provisions of Section 133.~0 of the Revised Code, including the weighted average of the amount preposed to be ex- pended for this improvement, and, WREREAS, The Director of Finance is the fiscal officer of the City as defined in Section 133.01 of the Revised Code; now, therefere, BE IT RESOLVED BY THE 00UNCIL OF THE CITY OF L~OOD, STATE OF OHIO: Section 1. That the Director of requested te certify to this Ooun¢il his timated life of such improvement and the bonds, with such other information as is Finance be and he is hereby conclusions as to the es- maximum maturity of such required by law. Section 2. That this resolution shall take effect and be in force from and after the earliest period allowed by law. Adopted: May 16, 1960 Wilson Chockley, Jr. President P. F~ Adsit Approved: May 17., 1960 Acting Clerk Frank P. Celeste