4015 - 60 Request cert of max maturity

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RESOLUTION NO. 4015 BY: Messrs. Ward, Williamson, Chockley, Gaydos, Gottermeyer, Huffman, Lawther. AN EMERGENCY RESOLUTION requesting the Director of Finance to certify to this Council the maximum maturity of bonds in the amount of Sixty-fiVe Thousand Dollars ($65,000.00) proposed to be issued for the purpose of purchasing motor vehicles, tractors and other mechanical equipment for the Mayor, the City Engineer, Divi- sions of Police and Fire, Health, Refuse Collection and Disposal and the Division of Parks and Public Grounds. · ' U WHEREAS, This Council contemplates issuing Smxty-five Tho - sand Dollars ($65,000.00) Motor and Mechanized Equipment Bonds from the proceeds of which the City contemplates purchasing motor vehi- clas, tractors and other mechanical equipment, and, WHEREAS, Section 133.24 and 133.21 of the Revised Code re- quire the fiscal officer of the City to certify to this Council the estimated life of the equipment to be purchased from the pro- ceeds of said bonds and also to certify to this Council the maximum maturity of such bonds calculated in accordance with provisions of Section 133.20 of the Revised Code, including the weighted aver- age of the amounts proposed to be expended for said different classes of equipment, and, WHEREAS, The Director of Finance is the fiscal officer of the City of Lakewood, Ohio, as defined in Section 133.01 of 'the Revised Code, and,I WHEREAS, An emergency exists for the reasons that this Council has and hereby determines on the recommendation of its Committee and the chiefs of the said divisions that it is necessary in the inter- ests of the public welfare and safety and for the efficient operation of said divisions to forthwith sell the unfit and obsolete equip- ment and to purchase new e~uipment, now, therefore, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF LAKEWOOD, STATE OF OHIO: Section 1. That the Director of Finance be and he is hereby requested to certify to this Council his conclusions as to the es- timated life of such equipment and the maximum maturity of such bonds with such other information as may be required by law. Section 2. This resolution is hereby declared to be an emer- gency measure for the reasons stated in the preamble hereof, and pro- vided it receives the affirmative vote of two-thirds of all members elected to Council~ it shall take effect and be in force immediately upon its adoption and approval by the Mayor. Adopted: July 18, 1960 Approved: July 19, 1960 F. Wilson Chockley, Jr. President H. A. Rees Clerk Frank P. Celeste Mayor