3178 - 44 Submit to electors - issue bonds to construct sewers

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- ;,f }h p..~) RESOLUTION No. 3178 by ~,+r. Tyler a AN E&lERGENCY'RESOLUTION determining to submit to the electors of the City of Lakewood, Ohio, the question of issuing bonds in the sum of TPio Hundred Eighty Thousand Dollars ($280,000.00) for the .purpose of constructing sanitary and storm sewers. WHEREAS, this Council onSeptember 5th 1944, adopted Resolution No. 3177 declaring the necessity of issuing General Sewer Bonds of the City of Lakewood in the sum of Two Hundred Eighty Thousand Dollars 0280,000.00) for the purpose of i constructing sa:Sitary and storm sewers and prov~.ding for the submission to the electors of the City of Lakewood at the next November election the question of issuing laid bonds and the levy of a tax-outside of the limitation imposed by r Article %II, Section 2, of the Constitution of the State of Ohio in order to pay the interest on and retire said bonds, and WHEREAS, the Auditor of ,Cuyahoga County, Ohio, has certified to this '~''r Council his calculation of the average annual levy throughout the life of the said bonds provided for in said Resolution No. 3177 which will be required to pay the interest on and retire such bonds assuming that they are all issued in one series and that the amount of the Tax. List of the City of'Lakewood remains throughout the life of said bonds the same as the amount of the Tax List for the current year, to ~ be .1703 mills for each dollar of valuation, or 1.703 cents for each one hundred dollars of valuation, and WHEREAS, an emergency exists in that the next November election will " be held on November 7th 1944, and in that it is required of this Council to certify its resolution to the Deputy State Supervisor of Elections of the County more than forty (40) days prior to said e'~ction, and in order to provide for the public peace, health, and safety, and the usual daily operation of a municipal departmei:t, now, therefore, BE IT ,RESOLVED B4 THE COUNCIL OF Ti3E CITY OF LAKENOOD, STATE OF OHIO: Section 1. That this Council desires to proceed with the issue of said bonds in the amount of Two Hundred Eighty Thousand Dollars. (~v280,000.00) for the purpose of constructing sanitary and storm sewers and to submit the question of issuing said bonds to the electors of the City of Lake--:rood, Ohio; that the Clerk of this Council be, and he is hereby, directed to certify this resolution and Resolution No. 3177 adopted September 5th 191-t1t, to the Deputy State Supervisor of 3 Elections of Cuyahoga County, Ohio, together with the amount of the average annual levy expressed in dollars and cents for each one hundred dollars of valuation, as well as in mills for each one dollar of valuation estimated by the County Auditor as 1.703 cents for each one hntidred dollars of valuation and .1703 mills for each one dollar of valuation, and the maximum number of years required to retire said bonds, namely, twenty-five (25) years, and to give notice of such election in accordance with the provisions of Section 2293-21 of the General Code of Ohio. Section 2. That this resolution is hereby declared to be an emergency measure for the reasons stated in the .preamble hereof and provided it receives the affirmative vote of two-thirds of all members elected to Council it shall take effect and be in force im*aediately upon its adoption and approval by the Nayor. Adopted: Sept. 18, 1944. Wm. R. Fair rieve resident Approved: Sept. 19, 194l~• H. A. Rees lerk A. I. Kauffman yon