4672 - 68 Award Sewage Treatment Plant Improvement Bonds

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RES$LUTION NOi 4672 BY: Messrs. Huffman, Kelley, Usher, Ward, Wendling, Gaydos,Graber A RESOLUTION providing for the award of an issue of $2,940,000 Sewage Treatment Plant Improvement Bonds of 1968 of the City of Lakewood~ Ohio. WHEREAS, after notice duly published as required by law, bids have been received for the purchase of an issue of $2~940,000 City of Lakewood, Shio, Sewage Treatment Plant Improvement Bonds o£ 1968~ which have been duly authorized by Council~ and WITEREAS~ it has been determined that the bid of __McDonald &.Co. and Associates of Cleveland, Ohio " for said bonds with a premium o-f $ ~62,888 'and to bea'r ah interest rate based upon the lowest rate of inte~'e'~t r'$c'$i~d at such rate; NOW, THEREFORE~ BE IT RESOLVED by the Council of the City of Lakewood~ Ohio: Section 1. That the aforesaid Sewage Treatment Plant Improve- meat Bonds of 1968 of this City be and they are hereby awarded and sold to McDonald & Co. and Associates in acc~rdanc~ ~ith"the' terms of ~h~i~ ~id/ said bonds to bear t~e ~'ate of interest provided in said bid and hereinbefore recited. Section 2. That said bonds, after being duly executed, shall be delivered, together with a true transcript of the proceedings, by the Mayor and Director of Finance to said successful bidder upon payment of the sum provided in the bid aforesazd.' Section 3. That the Clerk of Council is hereby authorized and directed to deliver a certified copy of this resolution to the Auditor of Cuyahoga County. gection 4. This resolution shall be im full force and effect immediately upon its adoption. Adopted:. ~ pe~ember 2, 1968 Robert E. Wendling Approved: ..... December 2, 1~68. ..... Grace. Reynolds. Clerk of Council .Rebe~$ M. LawCher Mayor