5364-79 Request Certif of max maturity - indoor ice rink

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RESOLUTION NO. 5364 BY: Chinnock, Magnotto, McBride, Salmon, Wendl~ng, Brockman, Brown A RESOLUTION requesting the Fiscal Officer to furnish a certificate of'maximum maturity. ~{EREAS, the Council of the City of Lakewood contemplates issuing $2,285,000 of bOnds and notes for the purpose of Constructing and equipping a new indoor ice-skating rink, acquiring real estate and interests therein as a part of the site thereof and constructing a parking lot and otherwise im- proving the site; NOW, ~[ERI2FORE, BE IT RESOLVED by the Council of the City of Lake- wood, CUyahoga County, Ohio: Section 1. That the Director of Finance as fiscal officer of this City is hereby requested to certify his estimate of the life of usefulness of this property and improvements and the maximum maturity of bonds and notes calculated in accordance with the provisions of Section 133.20 of the Revised Code and based on the following: $1,500,000 for constructing such indoor ice-skatiug rink; 760,000 for equipping such indoor ice-skating rink and for constructing a parking lot and otherwise improving the site; and 25,000 for acquiring real estate and interests therein ss a part of the site of such indoor ice-skating rink. Section 2. It is fOund and determined that all formal actions of this Council concerning snd relating to the adoption of this resolution were adopted in an open meeting of this Council, and that a]l such deliberations of this Council and of any of its committees that resulted in such formal action, were in meetings open to the public, in compliance with all legal requirements including SectJon 121.22 of the Ohio Revised Code. Section 3~ /'hat this resolution shall be in force and take effect immediately upon its adoption by Council.