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RESOLUTION NO. 4018 BY: Messrs. <br /> <br />Lawther, Ward, <br />Williamson, Chockley, <br />Gaydos, Gottermeyer, <br />Huffman. <br /> <br /> AN EMERGENCY RESOLUTION approving the acceptance of the bid <br />of, and confirming the award of two hundred five thousand dollars <br />($205,000.00) WATER MAIN BONDS - SERIES B, to be dated October l, <br />1960 to Ryan, Sutherland & Company and Stranahan, Harris & Company, <br />Jointly', at a rate of interest of three and three-fourths per cent <br />(3-3/4%) per annum. <br /> <br /> WHEREAS, Ordinance No. 63-60 adopted by the Council of the <br />City of Lakewood on July 5, 1960 provides, that the advertisement for <br />the sale of the WATER MAIN B0~DS - SERIES B, shall state that anyone <br />desiring to do so may present a bid or bids for such bonds based upon <br />their bearing a different rate of interest than that fixed in the <br />ordinance; and <br /> <br /> WHEREAS, Ryan, Suthertand & Company and Stranahan, Harris & <br />Company, Jointly, did bid a rate of three and three-fourths per cent <br />(3-3/4%) on the two hundred five thousand dollars ($205,000.00) <br />WATER MAIN BONDS - SERIES B, which is a different rate of interest <br />than specified in said ordinance and in the advertisement; and <br /> <br /> WHEREAS, an emergency exists to provide for the public wel- <br />fare and safety and the usual daily operation of a municipal depart- <br />ment, now, therefore, <br /> <br /> BE IT RESOLVED BY THE COUNCIL OF THE CITY OF LAKEWOOD, STATE <br />OF 0HIO: <br /> <br /> Section 1. That this Council hereby approves the acceptance <br />of the bid of, and confirms the award and sale of the two hundred <br />five thousand dollars ($205,000.00) WATER MAIN BONDS - SERIES B, to <br />Ryan, Sutherland & Company and Stranahan, Harris & Company, Jointly, <br />at a rate of interest of three and three-fourths per cent (3-3/4%) <br />per annum, payable semi-annually, being a different rate of interest <br />than specified in Ordinance No. 63-60 and in the advertisement, to- <br />gether with the premium included in said bid. The Clerk of Council <br />is directed to certify a copy of this resolution to the County <br />Auditor. <br /> <br /> Section 2. That this resolution is hereby declared to be an <br />emergency measure for the reason stated in the preamble hereof and, <br />provided it receives the affirmative vote of two-thirds of all members <br />elected to Council, it shall take effect and be in force immediately <br />upon its adoption. <br /> <br />Adopted: S.e.ptemb~r 6, 19.~0 <br /> <br />Approved: September 7~ 1960 <br /> <br />F. Wilson Chockley~ Jr. <br /> President <br /> <br />H. A. Rees,,, <br /> <br />Clerk <br /> <br />Frank P. <br /> <br />Celeste <br /> Mayor <br /> <br /> <br />