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RESOLUTION NO. 5279 <br /> <br />BY: Messrs, Brown, Chinnock, Magnotto, McBride, <br /> Salmon, Usher, Brockman <br /> <br /> A RESOLUTION requcsting the Fiscal Officer to furnish a certificate <br />of maximum maturity. <br /> <br /> ~IEREAS, the Council of the City of Lakcwood contemplates issuing <br />$425,000 of bonds and notes for the purpose of paying costs of providing a <br />recreational center by remodeling an existing building, providing furniture, <br />furnishings and equipment therefor, and acquiring real estate and. interests <br />therein; <br /> <br /> NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Lake- <br />wood, Cuyal~oga County, Ohio: <br /> <br /> Section 1. That the Director of Finance as fiscal officer of this <br />City is hereby requested to certify his estimate of the life of usefulness of <br />the property and improvements and the maximum maturity of bonds and notes calu- <br />lated in accordance with the provisions of Section 133.20 of the Revised Code <br />and based on the following: <br /> <br />a. $290,000 for remodeling an existing building. <br /> <br />b. $ 61,000 for providing furniture, furnishings and equipment <br /> for the building. <br /> <br />.c. $ 74,000 for acquiring real estate and interests therein. <br /> <br /> Section 2. It is found and determined that all formal actions of <br />thJ: Council concerning and relating to the adoption of this'resolution were <br />adooted in an open meetmng of this Council, and that all such deliberations of <br />this Council and of any of its committees that resulted in such formal action, <br />were in meetings open to the public, in compliance with all legal requirements <br />including Section 121.22 of the Ohio Revfsed Code. <br /> <br /> Section 3. That this resolution shall be in force and take effect <br />immediately upon its adoption by Council. <br /> <br />Adopted: <br /> <br />Approved: <br /> <br />Pres~defit of ~oun:l <br /> <br />Clerk of Council <br /> <br /> <br />