36-09 Repeal Ord 21-09 - Laserfiche WebLink

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ORDINANCE NO. --~3~-09`~ r`? By: Antonio, Bullock, Butler, Dever, Madigan, Powers, Summers. AN ORDINANCE to take effect immediately provided it receives the affirmative vote of at least five (5) members elected to Council otherwise, it shall take effect and be in force after the earliest period allowed by law, to repeal Ordinance 21-09, adopted February17,2009. WHEREAS, due to the changes in the original underwriting firm, and changes in the bank-qualification due to the Federal Stimulus Bill; and WHEREAS, this Council by a vote of at least five (5) members elected thereto determines that this ordinance is an emergency measure, and that this ordinance shall take effect at the earliest date possible as set forth in ARTICLE III, SECTONS 10 and 13 of the SECOND AMENDED CHARTER OF THE CITY OF LAKEWOOD, and that it is necessary for the immediate preservation of the public property, health and safety, and to provide for the usual daily operation of municipal. Now Therefore, BE IT ORDAINED BY THE CITY OF LAKEWOOD, STATE OF OHIO: Section 1. Ordinance 21-09, adopted February 17, 2009, currently reading as follows: Section 1: Findin¢s and Determinations. This Council finds and determines the following matters (capitalized terms are defined in Section 15): (a) The City has previously authorized and issued the Outstanding Notes. The Outstanding Notes were issued to pay costs of the Projects. (b) The Outstanding Notes are about to mature. (c) It is necessary for the City to issue the Bonds to pay the costs of the Projects: It is necessary to issue the Notes in anticipation of the Bonds and the levy and collection of certain special assessments for the purpose of (1) retiring the Outstanding Notes, together with other money of the City available for the purpose and (2) paying the Financing Costs of the Notes. (d) The Director of Finance has certified to this Council the maximum maturity of the Bonds and notes issued in anticipation of the Bonds. (e) All acts and conditions necessary to be performed by the City or to have been met for the issuance of the Notes in order to make them legal, valid, and binding general obligations of the City, have been performed and met, or will have been performed and met, at the time of delivery of the Notes, as required by law. (f) No statutory or constitutional limitafion of indebtedness or taxation will be exceeded by the issuance of the Notes.