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RESOLUTION NO. 4887 <br /> <br />BY: Messrs. Kelley, Magnotto, McBride, <br /> Usher, Brockman <br /> <br />A RESOLUTION providing for the award of an issue of $52,000 Off- <br />Street Parking Lot Improvement Bonds of 1972 of the City of <br />Lakewood, Ohio. <br /> <br />WHEREAS, after notice duly published as required by law, bids <br />have been received for the purchase of an issue of $52,000 City <br />of Lakewood, Ohio, Off-Street Parking Lot Improvement Bonds of <br />1972, which have been duly authorized by Council, and <br /> <br />WHEREAS, it has been determined that the bid of Ball, Bur ge & <br />Kraus & Associates of Cleveland, Ohio for said bonds with a <br />premium of $163.28 and to bear an interest rate of 5-5/8% is the <br />highest bid based upon the lowest rate of interest received; <br /> <br />NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF <br />LAKEWOOD, OHIO: <br /> <br />Section 1. That the aforesaid Off-Street Parking Lot Improvement <br />Bonds of 1972 of this City be and they are hereby awarded and sold <br />to Ball, Burge & Kraus & Associates in accordance with the terms <br />of their bid, said bonds to bear the rate of interest provided in <br />said bid and hereinbefore recited. <br /> <br />Section 2. That said bonds, after being duly executed shall be <br />delivered, together with a true transcript of the proceedings, <br />by the Director of Finance to said successful bidder upon payment <br />of the sum provided in the bid aforesaid. <br /> <br />Section 3. That the Clerk of Council is hereby authorized and <br />directed to deliver a certified copy of this resolution to the <br />Auditor of Cuyahoga County. <br /> <br />Section 4. This resolution shall be in full force and effect <br />immediately upon its adoption. <br /> <br />Adopted:. <br /> <br />Approved: <br /> <br /> <br />