3731 - 56 Submit to electors - issue bonds for muni admin bldg

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RESOLUTION NO. 3731 BY Mr. Quinn A RESOLUTION determining to.sub,it to the electors of the City of Lakewood, Ohmo, the question of mssumng bonds in the principal a- mount of one million five hundred thousand dollars for the construction of a Municipal Departments and Administration Building, and acquiring equipment, furniture and furnishings for said building. ~EREAS, This Council, on July 16, 1956, adopted Resolution No. 3730, declaring the necessity of issuing municipal departments and administration building bonds of the City of Lakewood in the principal amount of one million fi~e hundred thousand dollars for the purpose of constructing a Municipal Departments and Administration Building, and acquiring equipment, furniture and furnishings for said building and providing for the submission to the electors of the City of Lakewood at the next November election the question of the issuance of said bonds and the levy of a tax outside of the limitation imposed by Sec- tion 2 of Article XII of the Ohio Constitution, to pay the interest on and to retire said bonds; and WHEREAS, The Auditor of Cuyahoga County, Ohio, has certified to this Council his calculation of the average annual levy throughout the life of the bonds provided for in said Resolution No. 3730, which will be required to pay the interest on and retire said bonds to be °5667 mills for each one dollar ~$1.O0( of valuation ~nd 5.667 cents for each one hundred dollars ($100.00) of valuation; now, therefore, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF LAKEWOOD, STATE OF OHIO: Section 1. That this Council desires to proceed with the issue of bonds in the amount of one million five hundred thousand dollars for the purpose of constructing a municipal departments and administra- tion building, and acquiring equipment, furniture and furnishings for said building and to submit the question of issuing said bonds to the electors of the City of Lakewood, Ohio; that the Clerk of Council be, and he is, hereby directed to certify this resolution and Resolution No. 3730, adopted July 16, 1956, to the Board of Elections of Cuyahoga County, Ohio, together with the amount of the average tax levy, ex- pressed in dollars and cents, for each one hundred dollars of valua- tion, as well as in mills for each one dollar of valuation, estimated by the County Auditor as 5.667 cents for each one hundred dollars of valuation and as .5667 mills for each one dollar of valuation, and the maximum number of years required to retire said bonds, namely, twenty three years, which Board of Elections is hereby requested to prepare the ballots and make other necessary arrangements for the sub- mission of the question to the voters of the City of Lakewood, includ- ing publication of the notice of election in accordance with the pro- visions of Revised Code Sections 133.09 and 133o11. Section 2, That this resolution shall take effect and be in force from and after the earliest period allowed by law. Adopted: July 30. 1956 Approved:......July..31, 1956 Thomas C. Ward President' H. Ac Roes Clerk Frank P, Celeste Mayor