7329-98 Hall & Harlon Water Main Replacement Project

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RESOLUTION NO. 7 5 2 9 - 9 8 BY: Corrigan, Flannery, George, Roth, Seelie, Skindell, Snith A RESOLUTION declaring the official intent and reasonable expectatiOn of the City of Lakewood on behalf of the State of Ohio (The Borrower) to reimburse its Water Fund for the Hall and Harlon Avenues Water Main Replacement Project with the proceeds of tax exempt debt of the State of Ohio.. BE IT RESOLVED BY THE CITY OF LAKEWOOD, STATE OF OHIO: Section 1. The City of Lakewood reasonably expects to receive a reimbursement for the Hall and Harlon Avenues Water Main Replacement Project as set forth in Appendix A of the Project Agreement with the proceeds of bonds to be issued by the State of Ohio. Section 2. That the maximum aggregate principal amount of bonds, other than for costs of issuance, expected to be issued by the State of Ohio for reimbursement to the City of Lakewood is $695,809.00. Section 3. The Clerk of Council of the City of Lakewood is hereby directed to file a copy of this Resolution with the City of Lakewood for the inspection and examination of all persons interested therein and to deliver a copy of this Resolution to the Ohio Public Works Commission. Section 4. It is found and determined that all formal actions of this Council concerning and relating to the passage of this Resolution were adopted in an open meeting of this Council, and that all such deliberation of the 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. Section 5. This Resolution shall take effect and be in force immediately upon its adoption and approval by the Mayor; otherwise, it shall take effect and be in force after the earliest period allowed by law. Adopted: President Approved:~LOJJ D. ~ Clerk