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RESOLUTION NOo 3859 <br /> <br />BY: Messrs. <br /> <br />Gottermeyer, Lawther, <br />Ward, Chockley, <br />Fahrenbach, Gaydos~ <br /> <br /> AN E~RGENCY RESOLUTION approving the acceptance of the bid <br />of, and confirming the award of one hundred ten thousand dollars <br />($110,O00oO0) CITY OF LAKEW00D - RECREATIONAL FACILITIES BONDS, to be <br />dated May l, 1958, to Raffensperger~ ~ughes & Coo, Indianapolis, <br />Indiana, at a rate of interest of 2 1/4% per annum. <br /> <br /> WHEREAS, Ordinance Nco 9-58 adopted by the Council of the City <br />of Lakewood on February 21, 1958, provides, that the advertisement <br />for the sale of the RECREATIONAL FACILITIES BONDS shall state that <br />anyone desiring to do so may present a bid or bids for such bonds <br />based upon their hearing a different rate of interest than that fixed <br />in the ordinance; and <br /> <br /> WHEREAS, Raffensperger, Hughes & Co., did bid.a rate of 2,1/$% <br />for the one hundred ten thousand dollars ($110,OO0.OO) CITY OF LAKEWOOD <br />RECREATIONAL FACILITIES BONDS, which is a different rate of interest <br />than specified in said ordinance and in the advertisement; and <br /> <br /> WHEREAS, an emergency exists to provide for the public welfare <br />and safety and the usual daily operation of a munieipal department, <br />now, therefore, <br /> <br /> BE IT RESOLVED BY THE COUNCIL OF THE CITY OF LAKEWOOD, STATE <br />OF 0HIO <br /> <br /> Section lo That this Council hereby approves the acceptance <br />of the bid of and confirms the award and sale of the one hundred ten <br />thousand dollars ($110,O00oO0) CITY OF LAKEWOOD - RECREATIONAL FACIL- <br />ITIES BONDS to Raffensperger, Hughes & Coo, at a rate of interest of <br />2-1/~% per annum, payable semi-annually, being a d~fferent rate of <br />interest than specified in Ordinance Nco 9-58 and mn the advertisement, <br />together with the premium included in said bid. The Clerk of Council <br />is directed to certify a copy of this resolution to the County Auditor. <br /> <br /> Section 2o 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 mem- <br />bers elected to Council, it shall take effect and be in force immedi- <br />ately upon its adoption. <br /> <br />Adopted:~ April 7, 19~8 <br /> <br />,,,Thomas <br /> <br />Ward <br /> President <br /> <br />Approved: April 7, 1958 <br /> <br />Ho A. Rees <br /> <br />clerk <br /> <br />Frank P. Celeste <br /> May~'r'" <br /> <br /> <br />