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RESOLUTION NO. 5455 ~' By: <br /> <br />McBride, Salmon, We.ndling, Brown, <br />Chi'nnock,~ Graham <br /> <br /> A RESOLUTION requesting the Fiscal Officer to furnish a certificate <br />of maximum ~aturity. <br /> <br /> g~EREAS, the Council of the City of Lakewood contemplates issuing <br />$350,000 of bonds and notes for the purpose of payinglcosts of providing a <br />recreational center by remodeling an existing building, providing furniture, <br />furnishings and equipment therefor, and acquiring real estate snd interests <br />therein; <br /> <br /> 1~0~, THEREFORE, 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 aslfiscal 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 oflSection 133.20 of <br />the Revised Code and based on the following: <br /> <br />(a) $170,000 for remodeling an existing building; <br /> <br />(b) $ 82,000 for providing furniture, furnishings and equipment <br /> for the building; and <br /> <br />(c) $ 98,000 for acquiring real estate andlinterests therein. <br /> <br /> Section 2. It is found and determined that:all formal actions of <br />.this Council concerning and relating to the adoption ~f this res6ldtion were <br />adopted in an open meeting of this Council, and that all such deliberations <br />of this Council and of any of its com~gttees that resulted in such formal <br />action, were in meetings opeq to the public, in compliance with all legal <br />requirements including Section 121.22 of the Ohio Revised Code. <br /> <br /> Section 3. ~nat this resolution shall be i~ force and take effect <br />immediately upon its adoption by Council. <br /> <br /> dopted: 1980 <br /> <br /> Presiden¢ of Council <br />Approved: %~¢~/~ , <br /> 1980 , <br /> <br /> <br />