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RESOLUTION NO. 3720 BY Mr, Gottermeyer <br /> <br /> AN E~IERGENCYRESOLUTION requesting the Director of Finance ofthe <br />City of Lakewood to file a certificate of maturity in connection with <br />the issuance of one hundred thousand dollars "Breakwall Improvement <br />Bonds". <br /> <br /> WHEREAS, This Council contemplates issuing one hundred thousand <br />dollars in bonds to provide a fund for the purpose of reconstructing <br />the breakwall at Lakewood Park; and <br /> <br /> WHEREAS, Sections 133.21 and 133o24 of the Revised Code provide <br />that before any resolution, ordinance, er other measure providing for <br />the issuance of bonds is passed or adopted, the fiscal officer shall <br />~ertify to the bond-issuing authority the maximum maturity of smch bonds <br />calculated in accordance with the provisions of Sectiou133.20 of the <br />Revised Code including the weighted average of the amounts proposed to <br />be expended for the several classBs ef the improvements and~' also, that <br />the fiscal officer shall certify the estimated life of the asset, prop- <br />erty, construction or permanent improvements proposed to be acqmir~d, <br />constructed, improved, exteuded, or enlarged from the proceeds of said <br />bonds; and <br /> <br /> WHEREAS, The Director of Finance is the fiscal officer of the <br />City of Lakewoed, as defined in Section 133.01 of the Revised Code; and <br /> <br /> WHEREAS, Am emergency exists in order to provide for the immed- <br />iate preservation of ~he public property, h~alth and safety, and te pro- <br />vide for the usual da~ly operation of a munmcipal department; now, <br />therefore, <br /> <br />OHIO: <br /> <br />BE IT RESOLVED BY THE COUNCIL OF THE CITY OF LAKEWOOD, STATE OF <br /> <br /> Section 1o That the Director of Finance be and he is hereby re- <br />2uested to certify to this Council has conclusions as to the estimated <br /> ife of such improvement and the maxmmummaturity of said bonds, to- <br />gether with such other information as may be required by law. <br /> <br /> Section 2. That this resolution is hereby declared to be an <br />emergency measure for the reasons stated in the preamble hereof and pro- <br />vided it receives the affirmative vote ef two-thirds of all members <br />elected to Council, it shall take effect and be in force immediately <br />upon its adoption and approval by the Mayor. <br /> <br />Adopted: July 2~ 19~6 <br /> <br />Themas ¢. Ward <br /> PreSident <br /> <br />Approved: July 3. 19~6 <br /> <br />..... H. A. Rees <br /> <br />Clerk <br /> <br />,,, Frank P. Celeste <br /> Mayor <br /> <br /> <br />