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RESOLUTION NO. 3447 BY Mr. Quinn <br /> <br /> AN EMERGENCY RESOI/JTION approving the acceptance of the bid of, and <br />confirming the award of Two Hundred Fifty Thousand Dollars ($250,000,00) S~IM~ING <br />POOL BONDS to be dated June 1, 1950 to Otis & Compar~ and Win, J. Mericka & CO, <br />jointly, at a rate of interest of one and three-quarters perCent (1 3/4%) per <br /> <br /> · NEREAS, Ordinance Nos 4656, adopted by the Council of the City of <br />Lakewood on April 3, 1950, provides, that the advertisement for the sale of the <br />SWIMMING POOL BONDS shall state that a~one desiring to dO so ~ present a bid <br />or bids for such bends ~sed upon their ~ing a d~*fer~nt rate of interest <br />that fixed in the ordinance, and ~ <br /> <br /> W~[~RF~, Otis & Co. and Wm. J. MerioEa Company, Jointly, did bid a rate <br /> of one and three~uarters pS, cant (1 3/~) on the ~ ~..~d~ed Fifty Thousand <br /> Doll-rs ($250~000,00) SWIPING FOOL BONDS~ which is a different rate of interest <br /> than specified in said ordinance and in the advertisement, and <br /> <br /> WHERE~, an emergency exists in that funds are immediately needed to <br /> go forward with the construction of the swt==~g pool as herctoforc authorized <br /> and to provide for the usual daily operatioh of a aunicipal department, now <br /> therefore~ <br /> <br /> ~ 1T RE~OLV~D BY T~ COUNCIL ~F ~ CITY (F LAKE~OOD~ STATE OF OHIO~ <br /> <br /> Section 1. That this Council hereby approves and accepts the bid of, <br />and confirms the award and sale of the Tw~ Hundred Fifty Thousand Dollars <br />($250~000.O0) SWi~ING I~L BONDS to Otis & Com~ny and Win. <br />Jointly~ at a rate of interest of one and t~e-~Uax%ere perCent (1 3/4%) per <br />aauum~ payable se~t-annually~ being a differCnt rate of interest than specified <br />in Ordinance No. 4656 and in the advertisement~ ~gether ~ith the pren~tu~ <br />cluded in said bid. . <br /> <br /> . ~, Said resolution shall Be certified $o the County Auditor,. <br /> <br /> Section 2, That this Resolution is hereby declared to be an emergency <br />measure for the reasons .stated in th. ep.reamble hereof a~, provided it receives <br />the affirmative vote of two-thirds (2/~) of al~ members elected to Council, it <br />shall take effect and Be in force ~w~ediatoly upon its adoption and approval by <br />the Mayors <br /> <br />Adopted:_ May 15, 1950: / <br /> Wm. R. Fairgrieye <br /> president <br /> <br />Approved: ...... May 16, 1950 <br /> <br />H, A, Rees <br /> <br />Clerk <br /> <br />A. I. Kauffman <br /> <br /> Mayor <br /> <br /> <br />