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Placed on 1st reading &
<br />referred t o FIN 12 / 19 / 2 2 ; 2 nd VARIOUS PURPOSE IMPROVEMENT NOTES, SERIES 2023
<br />(REFUNDING)
<br />reading 1/3/23
<br />Baker, Bullock, Kepple, Marx,
<br />ORDINANCE NO. 54-2022 Rader, S ha cline r
<br />AUTHORIZING THE ISSUANCE OF NOTES IN THE AMOUNT OF NOT TO
<br />EXCEED $21,285,000 IN ANTICIPATION OF THE ISSUANCE OF BONDS TO
<br />PAY COSTS OF (I) DESIGNING, ENGINEERING, PERMITTING AND
<br />CONSTRUCTING A NEW OUTFALL, STONE REVETMENT AND
<br />REHABILITATING THE EXISTING SEWERS, TOGETHER WITH ALL
<br />NECESSARY APPURTENANCES THERETO, (II) IMPROVING AND
<br />RECONSTRUCTING THE CITY'S RECYCLING FACILITY, (III)
<br />IMPROVING THE CITY' S JAIL, (IV) IMPROVING SIDEWALKS WITHIN
<br />THE CITY, (V) REPLACING OR IMPROVING THE ROOF OF THE PUBLIC
<br />WORKS GARAGE AND OTHER PUBLIC BUILDINGS, TOGETHER WITH
<br />ALL NECESSARY APPURTENANCES THERETO, (VI) IMPROVING
<br />HEATING, VENTILATION AND AIR CONDITIONING SYSTEMS IN
<br />VARIOUS CITY FACILITIES INCLUDING THE MUNICIPAL UTILITIES
<br />GARAGE, WASTEWATER TREATMENT PLANT, WOMEN'S CLUB
<br />PAVILION AND CITY HALL, (VII) IMPROVING DETROIT ROAD,
<br />HILLIARD ROAD AND OTHER STREETS LOCATED WITHIN THE CITY,
<br />BETWEEN CERTAIN TERMINI, BY RESURFACING AND REPLACING
<br />CONCRETE, TOGETHER WITH ALL NECESSARY APPURTENANCES
<br />THERETO AND (VIII) DESIGNING, ENGINEERING AND CONSTRUCTING
<br />WATER IMPROVEMENTS, TOGETHER WITH ALL NECESSARY
<br />APPURTENANCES THERETO; (IX) REPLACING OR IMPROVING THE
<br />ROOF OF THE PUBLIC WORKS GARAGE AND OTHER PUBLIC
<br />BUILDINGS, TOGETHER WITH ALL NECESSARY APPURTENANCES
<br />THERETO, (X) IMPROVING PARKS WITHIN THE CITY, INCLUDING
<br />FOSTER POOL AND OTHER PARK IMPROVEMENTS, TOGETHER WITH
<br />ALL NECESSARY APPURTENANCES THERETO, (XI) IMPROVING
<br />SIDEWALKS WITHIN THE CITY, (XII) IMPROVING HILLIARD ROAD
<br />AND OTHER STREETS LOCATED WITHIN THE CITY, BETWEEN
<br />CERTAIN TERMINI, BY RESURFACING AND REPLACING CONCRETE,
<br />TOGETHER. WITH ALL NECESSARY APPURTENANCES THERETO, (XIII)
<br />DESIGNING, ENGINEERING AND CONSTRUCTING WATER
<br />IMPROVEMENTS, TOGETHER WITH ALL NECESSARY
<br />APPURTENANCES THERETO AND (XIV) DESIGNING, ENGINEERING
<br />AND CONSTRUCTING SEWER IMPROVEMENTS, TOGETHER WITH ALL
<br />NECESSARY APPURTENANCES THERETO, AND RETIRING NOTES
<br />PREVIOUSLY ISSUED FOR SUCH PURPOSE; AND APPROVING RELATED
<br />MATTERS; AND DECLARING AN EMERGENCY
<br />WHEREAS, the City Council (the "Council") of the City of Lakewood, Ohio (the "City") has issued
<br />notes dated March 17, 2022, in the aggregate principal amount of $21,285,000, which will mature March 16,
<br />2022 (the "Outstanding Notes"), in anticipation of the issuance of bonds described herein; and
<br />WHEREAS, it appears advisable in lieu of issuing bonds at this time to issue new notes in anticipation
<br />of the issuance of bonds, and to retire all, or a portion of, the Outstanding Notes; and
<br />WHEREAS, the Director of Finance (the "Director of Finance") of the City has certified to this
<br />Council that the estimated life of the improvement stated in the title of this ordinance (the "Project") which
<br />Error! Unknown document property name.
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