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` - <br /> { <br /> RESOLUTION N0. 3214 By Mr. Fahrenbach <br /> AN EMERGENCX RESOLUTION declaring the necessity oP issuing Lakewood Hospital <br /> Bonds of the City oP Lakewood in the principal amount of One Million Five Hundred <br /> Thousand Dollars ($1,500,000.00) end fixing the purpose and the approximate date, <br /> interest rate and maturity, and declaring the necessity of the levy of a tax out- <br /> side of the limitation imposed by Article SII, Section 2 of the Constitution to <br /> pay the interest on and retire such bonds. <br /> YPHEREAS, an emergency eaista is that the Council determines the issuance <br /> of such bonds to be immediately necessary and in that it is required by law to <br /> adopt such legislation more than sixty (60) days prior to the election at which <br /> it ie desired to submit the question, now,. therefore,. <br /> BE IT RESOL4ED BY THE COUNCIL OF THE CITY OF LAitE'JPOOD, STATE ~ OHIO: <br /> r <br /> Section 1. It is hereby declared necessary to issue Lakewood Hospital Boade <br /> of the City of Lakewood in the principal amount oP One Million Five Hundred Thousand <br /> Doll@re (1,500,000.00) for the purpose of the acquisition of real estate Por sites, <br /> ~ the erection of new fireproof hospital buildings and the improvement oP existing <br /> fireproof hospital buildings, and for the purchase oP furniture, furnishings and <br /> equipment of said buildings. <br /> E Section 2. That it is necessary to levy a tax outside of the limitation <br /> imposed by Article %II, Section 2, of the Constitution of the State of Ohio in <br /> order to pay the interest oa and retire said bonds; that the question of issuance <br /> of said bonds and the levy of suoh tax shall be submitted to the electors of the <br /> City of Lakewood at the next November election to be held November 6, 1945. That <br /> this Council estimates the approximate date of said bonds will be July 1, 1946; <br /> R that said bonds will be payable in twenty-two (22) annual installments, maturing <br /> in substantially equal amounts durixig a period of troeenty-two (22) years after the <br /> r authorization thereof; and that said bonds will bear interest at a rata not eaoeed- <br /> ing Pour per cent per annum, payable semi-annually. <br /> Section 3. That the Clerk of this Council shall deliver a certified copy <br /> of the resolution to the County Auditor of Cuyahoga County at least sixty (60) days <br /> prior to November 6, 1945, for his calculation of the average annual tax levy re- <br /> E quired throughout the life of said bonds to pay the interest on and to retire suoh <br /> bonds, assuming that the said bonds are all issued in one series and that the amount <br /> of the tax list of the City oP Lakewood remains throughout the lips oP said bonds <br /> the same as the amount of the tax list for the current year. <br /> <br /> z <br /> Section 4. This resolution is hereby declared to be an emergency measure Por <br /> the reasons stated in the preamble hereof and, provided it receives the affirmative <br /> vote of two-thirds of ail mmnbers elected to Council, it shall take effect and be <br /> <br /> _ in force immediately upon its adoption and approval by the Mayor. <br /> Adopted: July 16, 1945 <br /> 'Pfm. R. Fairgrieva <br /> res en <br /> H.-Aa Rees <br /> er <br /> Approved: -July 17, 1945 <br /> A. I. AsuPfman <br /> yor <br /> <br />