4355 - 64 Proceed w/ election - proposed bonds to modernize hospital

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RESOLUTION NO. 4355 BY: Messrs. Gaydos, Huffman, Usher, Ward, Wendling. A RESOLUTIONdetermining to proceed with the election upon the proposed issue of bonds for the purpose of modernizing the Lakewood Hospital by remodeling and improving the existing building and construct- ing an addition thereto, acquiring real estate and interests therein and furniture, furnishings and equipment and providing off-street parking facilities and site improvements. WHEREAS, the Council of the City of Lakewood on the 6thday of July, 1964, duly passed Resolution No. 4353 providing for the submission to the electors of said City Of the question of issuing bonds in the sum of $1,800,000 for the purpose of modernizing the Lakewood Hospital by remodeling and improving the existing building and constructing an addition thereto, acquiring real estate and interests therein and furniture, furnis~ ings and equipment and providing off-street parking facilities and site improvements and of the levy of a tax to provide for the payment of the principal and interest thereof at the general election to be held on November 3, 1964; and WHEREAS, the County Auditor of Cuyahoga County has certified to Council that in accordance with his calculation the average annual tax levy throughout the life of such bonds which would be required to pay the interest on and to retire the same, assuming tbmt they are all issued in one series and that the amount of the tax list of this City remains the same throughout the life of said bonds as the amount of such list for the current year, is .?1128 mills for each one dollar of valuation, which amounts to 7.1128 cents for each one hundred dollars of valuation. NOW~ THEREFORE~ BE IT RESOLVEDby the Council of the City of Lakewood, Cuyahoga County, Ohio: Section 1. That Council hereby determines to proceed with the issuance of said bonds and that the Clerk of Council be and she is hereby directed to certify to the Board of Elections of Cuyahoga County, Ohio, Resolution No. 4353 aforesaid, calling such election, together with a copy of this resolution and the amount of the average tax levy estimated as afore- said by the County Auditor and the maximum number of years to retire said bonds~ namely, twenty years, and this Council hereby requests the said Board of Elections to give notice of said election and to prepare the necessary ballots and supplies for said election. Section 2. This resolution shall be in force and take effect immediately after its adoption and approval by the Mayor. Adopted: July 20~ 1964 John Gaydos, Jr. President of Council Approved: July, 2!~ 1964 Mary Adams clerk of council Robert M. Lawther Mayor