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RESOLUTION NO. 4361 BY: <br /> <br />Messrs. Cain, Gaydos, <br /> Huffman, Usher, <br /> Ward, Wendling. <br /> <br /> A RESOLUTION providing for the award of two issues of bonds <br />aggregating in amount $225,000 of the City of Lakewood, Ohio. <br /> <br /> WHEREAS, after notice duly published as required by law, <br />bids have been received for the purchase of an issue of $59,000 <br />Street Improvement Bonds of 1964, Property Owners' Portion, and <br />$166,000 Street Improvement Bonds of 1964, City Portion, both <br />of which have been duly authorized by Council~ and <br /> <br /> WHEREAS, it has been determined that the bid of Fahey,. . <br />Clark & Co. of Cleveland, Ohio for the bonds of said is- <br />sues with an aggregate premium of $ 543.00 the $59,000 Street <br />Improvement Bonds of 1964, Property Owners' P~rtion, to bear <br />interest at the rate of three (3.00) per centum per annum, <br />and the $166,000 Street Improvement Bonds of 1964, City Portion, <br />to bear interest at the rate of three...(3.00) per centum <br />per annum, is the highest bid based upon the lowest interest <br />rate as defined in the notice of sale for said issues~ <br /> <br /> NOW, THEREFORE, BE IT RESOLVED by the Council of the City <br />of Lakewood, State of Ohio: <br /> <br /> Section 1. That the aforesaid bonds of this City be and <br />the same are hereby awarded and sold to Fahey, Clark & Co. <br />of Cleveland~ Ohio in accordance with the terms of their' <br />bi~"b~--t~r the rates of interest provided in said <br />bid. <br /> <br /> Section 2. That the bonds o~ said issues, after being <br />duly executed and signed according to law and the ordinances <br />heretofore adopted by the Council of this City, and bearing the <br />rates of interest hereinabove provided, be delivered by the <br />Director of Finance to the purchaser upon its compliance with <br />the terms of the sale. <br /> <br /> Section 3. That the Clerk of Council furnish to the suc- <br />cessful bidder true transcripts of proceedings and statements <br />of net indebtedness, certified by him, and such other informa- <br />tion as is provided by law. <br /> <br /> Section 4. That the Clerk of Council is hereby directed <br />to certify a copy of this resolution to the Auditor of Cuyahoga <br />County as required by Section 133.36~ Ohio Revised Code. <br /> <br /> Section 5. That this resolution shall be in full force <br />and effect immediately upon ~ <br /> ~os passage and approval by the <br />Mayor. <br /> <br />Adopted:.September 8, 1964 <br /> <br />Approved: September lO~ 1964 <br /> <br />John Gaydos, Jr. <br /> <br />President <br /> <br />, Mary Adams <br /> <br />Clerk <br /> <br />Robert M. Lawther <br /> Mayor <br /> <br /> <br />