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RESOLUTION NO. 5365 <br /> <br />BY: Magnotto, McBride, Salmon, WendI~ng, <br /> Brockman~ Brown, Chlnnock <br /> <br /> A RESOLUTION requesting the Fiscal Officer to furnish a certificate <br />of maximum maturity. <br /> <br /> WHEREAS, the Council of the City of Lakewood contemplates issuing <br />$3501000 of bonds and notes for the purpose of paying costs of providing a <br />recreational center by remodeling an existing building, providing furniture, <br />furnishings and equipment therefor, and acquiring real estate and interests <br />therein; <br /> <br /> NOW, Tt~REFORE, BE IT RESOLVED by the Council of the City of Lake- <br />wood, Cuyahoga County, Ohio: <br /> <br /> Section 1. That the Director of Finance as fiscal officer of this <br />City is hereby requested to certify his estimate of the life of usefulness <br />of this property and improvements and the maximum maturity of bonds and <br />notes calculated in accordance with the provisions of Section 133.20 of <br />the Revised Code and based on the following: <br /> <br />(a) $239,000 for remodeling an existing building; <br /> <br />(b) $ 50,000 for providing furniture, furnishings and equipment <br /> for the building; and <br /> <br />(¢) $ 61,000 for acquiring real estate and interests therein. <br /> <br /> Section 2. It is found and determined that all formal actions of <br />~his Council concerning and relating to the adoption of this resolution were <br />adopted in an open meeting of this Council, and that all such dsliberations <br />of this Council and of any of its committees that resulted in such formal <br />action, were in meetings open to the public, in compliance with all legal <br />requirements including Section 121.22 of the Ohio Revised Code, <br /> <br /> Section 3; That this resolution shall be in force and take effect <br />fmmediately upon its adoption by Council. <br /> <br />Adopted: <br /> <br />Approved: ~ ~ ~.~-~<~ , 1979 <br /> <br />President of ,~i~cil <br />Clerk o f ~'ouncti <br /> <br /> <br />