3733 - 56 Cert of max maturity - Water main bonds

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RESOLUTION NO. 3733 BY Mr. Fahrenbach A RESOLUTION requesting the Director of Finance to file a cer- tificate of maturity in connection with the issuance of three hundred thousand dollars of - Water Main Bonds of the City of Lakewood, Series A. WHEREAS, This Council contemplates issuing three hundred thou- sand dollars of bonds for the purpose of improving the water distribu- tion system by installing mains and the necessary valves, hydrants and other appurtenances incidental and necessary thereto, and WHEREAS, Sections 13~.21 and 1~.2~ of the Revised Code re- quire the fiscal officer of the City to certify to this Council the estimated life of the property, asset or improvement, proposed to be acquired or constructed from the proceeds of said bonds and also to certify to this Council the maximum maturity of such bonds, calculated in accordance with the provisions of Section 1~3.20 of the Revised Code, including the weighted average of the amount proposed to be ex- pended for this improvement, and WHEREAS, The Director of Finance City as defined in Section 13S.01 of the BE IT RESOLVED BY THE COUNCIL OF OF OHIO: is the fiscal officer of the Revised Code; now, therefore, THE CITY OF LAKEWOOD, STATE Section 1. That the Director of requested to certify to this Council his timated life of such improvement and the bonds, with such other information as is Section 2. That this resolution force from and after the earliest period Finance be and he is hereby conclusions as to the es- maximum maturity of such required by law. shall take effect and be in allowed by law. Adopted: July 30. 1956 Thomas C. Ward President H. A. Rees Clerk Approved: July 31. 1956 Frank P. Celeste Mayor