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to take effect and be in force at the earliest period allowed by law, authorizing the issuance
<br />of notes in the amount of not to exceed $1,020,000 in anticipation of the issuance of bonds
<br />to pay costs of constructing a refuse recycling facility; renovating refuse truck parking
<br />facility; replacing or improving the roofs of public buildings, including the municipal
<br />facilities garage; improving the sites thereof, including infrastructure improvements,
<br />st
<br />together with all necessary appurtenances thereto; and approving related matters. (1 read
<br />nd
<br />12/18/23 and referred to Finance; 2
<br /> read 1/2/23)
<br />ORDINANCE 47-2023 - AN ORDINANCE to take effect immediately provided it
<br />receives the affirmative vote of at least two thirds of the members of Council, or otherwise
<br />to take effect and be in force at the earliest period allowed by law, authorizing the issuance
<br />of not to exceed $41,000,000 of bonds for the purpose of retiring notes issued for the
<br />purpose of (i) designing, engineering, permitting and constructing a new outfall, stone
<br />revetment and rehabilitating the existing sewers, together with all necessary appurtenances
<br />thereto, (ii) improving and reconstructing the city's recycling facility, (iii) improving the
<br />city’s jail; (iv) improving sidewalks within the city; (v) replacing or improving the roof of
<br />the public works garage and other public buildings, together with all necessary
<br />appurtenances thereto, (vi) improving heating, ventilation and air conditioning systems in
<br />various city facilities including the municipal utilities garage, wastewater treatment plant,
<br />women's club pavilion and city hall, (vii) improving Detroit road, Hilliard road and other
<br />streets located within the city, between certain termini, by resurfacing and replacing
<br />concrete, together with all necessary appurtenances thereto, (viii) designing, engineering
<br />and constructing water improvements, together with all necessary appurtenances thereto,
<br />(ix)improving parks within the city, including foster pool and other park improvements,
<br />together with all necessary appurtenances thereto, (x) improving Hilliard road and other
<br />streets located within the city, between certain termini, by resurfacing and replacing
<br />concrete, together with all necessary appurtenances thereto, (xi) designing, engineering and
<br />constructing sewer improvements, together with all necessary appurtenances thereto, (xii)
<br />constructing a refuse recycling facility and animal shelter; renovating refuse truck parking
<br />facility; replacing or improving the roofs of public buildings, including the municipal
<br />facilities garage; improving the sites thereof, including infrastructure improvements,
<br />together with all necessary appurtenances thereto, (xiii) improving parks within the city,
<br />including foster pool, Lakewood park and other park improvements, together with all
<br />necessary appurtenances thereto, (xiv) improving sidewalks within the city and (xv)
<br />improving Arthur avenue, Lakeland avenue, Olivewood avenue, Esther avenue, Roycroft
<br />avenue, Wyandotte avenue and other streets located within the city, between certain
<br />termini, by resurfacing and replacing concrete, together with all necessary appurtenances
<br />st
<br />thereto; approving related matters in connection with the issuance of the bonds. (1read
<br />nd
<br />12/18/23 and referred to Finance; 2 read 1/2/23)
<br />Finance Director Rancatore introduced meeting guests Catherine Swartz, Bonds Counsel with
<br />Brickner Graydon, and Jeff Rink, Underwriter with Key Bank. He then briefly reviewed the
<br />pieces of legislation on the agenda for the evening. He explained that Ordinances 43-2023
<br />through 46-2023 are note offerings, that are short-term borrowings that come due each year. He
<br />said as capital projects are completed the City will typically convert the notes into bonds which
<br />represents a long-term debt financing tool. He then briefly reviewed each ordinance and the
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