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RESOLUTION NOo 3742 BY Mr. Gottermeyer <br /> <br /> AN EMERGENCY RESOLUTION approving the acceptance of the bid of, <br />and confirming the award of three hundred thousand dollars ($300,000.00) <br />WATER ~IN - SERIES A BONDS to be dated November l, 1956 to Field, <br />Richards & Co. and The First Cleveland Corporation, Jointly, at a rate <br />of interest of three and one-fourth per cent (3-1/4%) per a~num. <br /> <br /> WHEREAS, Ordinance No. 76-56 adopted by the Council of the City <br />of Lakewood on July 30, 1956 provides, that the advertisement for the <br />sale of the WATER MAIN - SERIES A BONDS shall state that anyone desir- <br />ing to do so may present a bid or bids for such bonds based upon their <br />bearing a different rate of interest than that fixed in the ordinance; <br />and <br /> <br /> · .WHEREAS, FieSd, Richards & Co. and The First Cleveland Corpora- <br />tmon, Jointly, did bmd a rate of three and one-f°uv~th per cent ~3'1/4%) <br />on the three hundred thousand dollars ($300,000.00) WATER MAIN SERIES <br />A BONDS which is a different rate of interest than specified in said <br />ordinance and in the advertisement; and <br /> <br /> WHEREAS, an emergency exists to provide for the <br />and safety and the usual daily operation of a municipal <br />therefore, <br /> <br />public wel£are <br />department, now, <br /> <br />BE IT RESOLVED BY THE COUNCIL OF THE CITY OF LAKEWOOD, STATE OF <br /> <br />OHIO: <br /> <br /> ~ection 1. That this Council hereby approves the ac~$~D~e <br />of the bmd of, and cgnfirms the award and sale of the ~hree/t~b~s~d <br />dollars ($300,000°00) WATER MAIN - SERIES A BONDS to Fmeld, Rmchards <br />& Co. and The First Cleveland Corporation, Jointly, at a rate of inter- <br />est of three and °n~-fourth per cent (3-1/4%) per annum, payable s~mi- <br />annua%ly, bein~ a dmfferent rate of interest than specified mn Ordinance <br />No. 7~-56 and mn the advertisement, together with the premium included <br />in said bid. The Clerk of Council is directed to certify a copy of thlis <br />resolution to the County Auditor. <br /> <br /> Section 2. That this resolution is hereby declared to be an <br />emergency measure for the reason stated in the preamble hereof and, <br />provided it receives the affirmative vote of two-thirds of all members <br />elected to Council, it shall take effect and be in force immediately <br />upon its adoption° <br /> <br />Adopted: October 1, 1956 <br /> <br />Thomas C. Ward <br /> <br />PreSident <br /> <br />Approved: October2~ 1956 <br /> <br />H. A. Rees <br /> <br />Clerk <br /> <br />Frank P. Celeste <br /> <br />Mayor <br /> <br /> <br />