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~c, Chockley, <br /> ~ ~ rg~ieve, <br /> ~ydo~. <br /> <br /> the princ~p~ ~t e[ o~ million t~ hm~dred ~fty thous~d <br />do~lar~, ~l~ia~ the p~e ~ the appellate ~te, interest rate <br /> a t~ outside of the l~itation imbued by ~lon <br />tli of the Ohio ~nstitution, to ~y the lnte~st on <br /> <br /> ~ IT ~LYE.,~ BY %~{E COU~CIL OF TH~ CITI OF LAKCWOOD, S'iATi~ <br />OP OHIO~ <br /> <br /> ~etion 1. It ia hereby declared necessary to issue am~tclt~l <br />departments and ad~niaratton b~ldi~ ~nd~ of ~e City of ~e~od <br /> the princi~l ~o~% of one ~llion t~ h~ed ~y tholed <br /> <br />a~stratton b~. <br /> <br />t- .. .f~ction_~. I%.. is declared necessary to levy a tax eut~tde <br /> ~_e ~lmltation lmposem by Section 2 of Article Iii 6f the Const4t,,+~2~ <br />~f th~ State of Ohio in or, er to ~Y ~he lnte~$t on and ~ ~et~re'~ <br />~id ~n~I ~d tMt the question of the iss~nce of ~fd bonds and <br /> <br /> -' Y ap~rox~nate date of said bonus to be <br />Febr~ry 1, 1958, the approxi~Jate in~eres% rate ~o be t~ee per <br />pot ann~u, ~yable zemt-a~olly, ~d said bonds sh~l be iayabla <br />%wenby-fi~e ~1 lnst~ents ~t~ in mubstanti~y <br />a~m~ts d~lng a period of t~nty-ftwe ye~s al%er the authorl~tion <br />the~of. <br /> <br /> Section ), That the Cl~rk cf this ~tmcil ~hall deliver a <br />c~rtifted copy of ~is. resoluttoa to the Com:ty ludttor cf Ouya~o~ <br />Cowry at: least 110 days prior to Nov~r 5, 1957~. for his ~l~a- <br />tion of the average a~l t~ levy req~red %h~ou~ %he life of <br />~id bonds to ~y the ~terest on, ~d ~ retire such ~nds, ass=~l~ <br />that Zhe said ~nds a~ all issued in one merfas ~d that the a~o~% <br />of t~ list of the City of ~e~od re,ins %hro~out the life of <br />~id ~nds ~e ~e as the ~mo~t of t~ list for the ~rent year, <br /> <br /> ~ction &. ~his r~lution ~all t~e effe~ ~d ~ tn force <br />f~ and ~ter the earliest period allo~d ~y law~; <br /> <br />Adopted: July, !._!957 <br /> <br />Thof~ s C. ~ard <br /> <br />¢i~rk <br /> <br /> <br />