Laserfiche WebLink
RE£OLU~I'ZON NO. <br /> <br />Messrs. Wendling, Williamson, <br /> Huffman, Lawther, <br /> Usher. <br /> <br /> A RESOLUTION providing for the award of two issues of <br />bonds aggregating in amount $206~500o of the City of Lakewood~ <br />Ohio° <br /> <br /> WHEREAS~ after notice duly published as required by law~ <br />bids have been received for the purchase of an issue of $~6~500. <br />Street Improvement Bonds of 1963~ Property Owners' Portion~ and <br />$160~000. Street Improvement Bonds of 1963~ City's Portion~ both <br />of which have been duly authorized by Council~ and <br /> <br /> WHEREAS~ it has been determined that the bid of Ball~ <br />Burge and Kraus of Cleveland~ Ohio~ for the bonds of said issues <br />with an aggregate premium of $1~073o80~the $~6~500. Street Im- <br />provement Bonds of 1963~ Property Owners' Portion~ to bear inter- <br />est at the rate of two and seven-eighths (2-7/8) per eentum per <br />annum~ and the $160~000. Street Improvement Bonds of 1963~ City's <br />Portion~ to bear interest at the rate of two and seven-eighths <br />(2-7/8) per centum per annum~ is the highest bid based upon the <br />lowest interest rate as defined in the notice of sale for said <br />issues~ <br /> <br /> NOW, TPIEREPORE~ BE IT RESOLVED by the Council of the City <br />of Lakewood~ State of Ohio: <br /> <br /> Section 1. That the aforesaid bonds of this City be and <br />the same are hereby awarded and sold to Ball~ Burge & Kraus of <br />Cleveland~ Ohio~ in accordance with the terms o~ their bid~ <br />said bonds to bear the rates of interest provided in said bid° <br /> <br /> Section 2. That the bonds of said issues~ after being <br />duly executed and signed according to law and the ordinances <br />heretofore adopted by the Council of this City~ and bearing <br />the rates of interest hereinabove provided~ be delivered by the <br />Director of Pinance to the purchaser upon its compliance with <br />the terms of the sale~ <br /> <br /> Section 3. That the Clerk of Council furnish to the suc- <br />cessful bidder true transcripts of proceedings and statements of <br />net indebtedness~ certified by him~ and such other information <br />as is provided by law. <br /> <br /> Section 4. That the Clerk of Council is hereby directed <br />to certify a copy of this resolution to the Auditor of Cuyahoga <br />County as required by Section 133o36~ Ohio Revised Code. <br /> <br /> Section 5. That this resolution shall be in full force <br />and effect immediately upon its passage and approval by the <br />Mayor. <br /> <br />Adopted~ August 16, 1963 <br /> <br />Approved: August 16~ 1963 <br /> <br />Robert M. Lawther <br /> <br />President <br /> <br />Philip M. Dearborn <br /> Clerk <br /> <br />Frank P. Celeste <br /> <br />Mayor <br /> <br /> <br />