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PLEF"t$7"SUBMITTED w1 ~ ' <br /> <br /> - p5I`ry~ETING MAY 8, 1987 <br /> gy: Browns Chinnock, Gallagher+ <br /> Graham, Salmon <br /> 6144-87 <br /> RESOLUTION NO• 1 200,000 <br /> the award °f $ ~ water <br /> rovide fox ose of replacing <br /> EMERGENCY RESOLUTION tO £DY the P etiher with the necessary <br /> AN Ohio, Detroit <br /> the City of Lakewood: Madison Avenue tO Rosalie <br /> ants and curb connectionsfromg Avenue> <br /> bonds of in Coutant Avenue Detroit Exam Lake <br /> mains, fire hydr Madison Avenue to Avenue <br /> there Avenue from Drive, Abbieshira Heights Boulevard <br /> appurtenances Edgewater Lakewoo <br /> Avenue, Wincheste Avenue to Alger goad from <br /> Avenue from Lake Drive and <br /> Edgewater urchase of <br /> Avenue to goad. fox the p Ordinance <br /> to Waxxen been received <br /> bids have Bonds authorized by „BOnds") with <br /> t e <br /> $1,200,00 <br /> ~Watex~SYstem Improvement°n ~Poflthe 1987 in accordance <br /> this Council Bonds <br /> No. 29-87 passed by of the sal <br /> the advertisement Northern Trust <br /> following that the bid00f and to bear <br /> law; and has been determined of $ 5>79_.~ per annum <br /> WBE <br /> £orSthe Bonds with Darter um Fex Centum ~eived for <br /> t rate of i <br /> n-theprate of interest <br /> tom an Six <br /> is theehighest bid based uP° of the members <br /> ZI3) vote ency measure <br /> the Bonds; two-thirds ( an emexg eace, <br /> this Council this resolution is the public t at the <br /> Wt1EREAS, fines that reservation of reason <br /> thereto detexm the immediate P for the further is necessary <br /> elected welfare and authoriY gaited to PrO- <br /> which is necessaxYsafety and the Bonds herein ently <br /> Property, health, and sale of the City; <br /> City to construct improvements urg <br /> mediate issuance the citizens of the City of <br /> to enable theerty and health of the Council of <br /> tect the Prop RESOLVED y <br /> T10W, THEgEFORE, BE IT <br /> terms and maturities as <br /> Ohio: hereby awarded and <br /> Lakewood, Bonds, bearing B rids, are <br /> Section 1. The in accordance with its <br /> t~inance authorizing the one Quarter ~ Per <br /> CompanYat the rate of S~x1q.0~num to <br /> provided iNorthernTrust of ~_.~.-~--'-er <br /> sold to bearing interesWith a Premium rate P <br /> annum, fined to be the interest <br /> bid therefor> <br /> 6.25 Z} PeY determ hereby <br /> centum ~ rate is hereby and is <br /> interest the Bonds. shall be <br /> be borne by Finance Hinted forthwiti~Ued <br /> The Directo~hefBonds to be p with a <br /> delivered, together <br /> Sect~cted to cause the aforesaid pux~ <br /> same executed and Bonds, t° xemium, and <br /> authorized Ra e the thorizingtheXeof, the aforesaid P <br /> thereupon of PxpCeeofnti e pax value <br /> transcript delivery officer of the <br /> chaser upon Pa~eto the date of fiscal <br /> interest of Finance, ascoPY of this ordinance <br /> accrued The Director a receipt <br /> forward a certified. secure <br /> Section 3• to County and to <br /> is here~ecteof Cuyahoga <br /> Cit the County Auditor <br /> to <br /> therefor. <br /> <br />