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RESOLUTION NO. 4013 BY: Messrs. <br /> <br />Chockley, Gaydos, <br />Gottermeyer, Huffman, <br />Lawther, Ward, <br />Williamson. <br /> <br /> A RESOLUTION requesting the Director of Finance of the City of <br />Lakewood to file a certificate of Maturity in connection with the is- <br />suance of forty thousand dollars "Lake Avenue Improvement Bonds" and <br />of a note to be issued in anticipation of the issuance of such bonds. <br /> <br /> WHEREAS~ This Council contemplates issuing forty thousand <br />dollars in bonds to provide a fund for the purpose of resurfacing, <br />grading and draining Lake Avenue within the City of Lakewood, and, <br /> <br /> WHEREAS~ Sections 133.21 and 133.24 of the Revised Code pro- <br />vide that before any resolution, ordinance or other measure providing <br />for the issuance,of bonds is passed or adopted, the fiscal officer <br />shall certify to.the bond issuing authority the maximum maturity of <br />such bonds calculated in accordance with the provisions of Section <br />133.20 of the ReVised Code~ including the weighted average of the <br />amounts proposedlto be expended for the several classes of the improve- <br />ments and, also, that the fiscal officer shall certify the estimated <br />life of the asset~ property, construction or permanent improvements <br />proposed to be acquired, constructed, improved, extended or enlarged <br />from the proceeds of said bonds, and, <br /> <br /> WHEREAS~ The Director of Finance is the fiscal officer of <br />the City of Lakewood as defined in Section 133.01 of the Revised Code, <br />now~ therefore~ <br /> <br /> BE IT RESOLVED BY THE COUNCIL OF THE CITY OF LAKEWOOD, STATE <br />OF OHIO: <br /> <br /> Section 1. That the Director of Finance be and he is hereby <br />requested to certify to this Council his conclusions as to the esti- <br />mated life of such improvement and the maximum maturity of said bonds, <br />and the note to be issued in anticipation of the issuance of such <br />bonds~ together with such other information as may be required by law. <br /> <br /> Section 2. That this resolution shall take effect and be in <br />force immediately upon its adoption and approval by the Mayor. <br /> <br />Adopted: Jul~ 5, 1960 <br /> <br />F. Wilson C~ockley, Jr. <br /> President <br /> <br />H. A. Rees <br /> <br />Approved: July 6, 1960 Clerk <br /> <br />Frank P. Celeste <br /> <br />Mayor <br /> <br /> <br />