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RESOLUTION NO. 3436 BY Mr. Tyler <br /> <br /> AN EMERGENCY RESOLUTION requesting the Director of Finance to file a <br />certificate of maturity in connection with the issuance of Seventy-five Thousand <br />Dollars ($7~,000.00) CITY PORTION SE~I~R EP:tOVEMENT BONDS. <br /> <br /> WHEREAS, this Council contemplates issuing Seventy-five Thousand Dollars <br />($75,000.00) of bonds for the purpose of pa~ing the City' · portion of the cost <br />and expense of improvin~ various streets by constructing, re-constructing or <br />repairing sewer mains therein; and, <br /> <br /> WHEREAS, Section 2293-10 of the General Code requires the fiscal officer <br />of the city to certify to this Council his estimate of the life of the property~ <br />asset or improvement, proposed to be acquired or constructed from the proceeds <br />of said bonds and ~lso certify to this Council the maximum maturity of such <br />bends, calculated in accordance with the provisions of Section 229~9 of the <br />General Code, including the weighted average of the amount proposed to be ex- <br />pended for this-improvement; and, <br /> <br /> WNEP~J~, an emergency exists to provide for the immediate preservation <br />of the public properS, health and safety and the usual daily operation of a <br />municipal department; and <br /> <br /> WHEREA~, the Director of Finance is the fiscal officer of this city as <br />defined by Section 22~3-1 of the General Code~ now, therefore~ <br /> <br />BE IT RESOLVED ~ THE OOUNOIL OF T}{E CIT~ OF IAKEWOOD, STATE OF OHI0: <br /> <br /> Section 1. That the Director of Finance be and he is hereby requested <br />to certify to this Council his conclusions as to the esti~mted life of such <br />improvement and the maximum maturity of such bonds, with such other information <br />as is required by law, <br /> <br /> Section 2. That this resolution is hereby decla~,ed to be an emergency <br />measure for the reasons stated in the preamble hereof and, provided it receives <br />the affirmative vote of two-thirds of all members elected to Council, it shall <br />take effect and be in force !mmediately upon its adoption and approval by the <br />Mayor, <br /> <br />Adopted: <br /> <br />Januar~ 16~ !950 <br /> <br />Wm. R. Fairgrieve <br /> President <br /> <br />Approved: Januar~ i7~ 1950 <br /> <br />No A. Rees <br /> <br />clerk <br /> <br />A° I, Kauffman <br /> <br /> <br />