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RESOLUTION NO. 5303 <br /> <br /> Messrs. Salmon, Usher, Brockman) <br />BY: Brown, Chinnock, Magnotto <br /> <br /> A RESOLUTION requesting the Fiscal Officer to furnish a certificate <br />of maximum maturity. <br /> <br /> WHEREAS, the Council of the City of Lakcwood contemplates issuing <br />$3,665,000 of bonds for tile purpose of improving the City's muuicipal off- <br />street parking facilities by constructing and equipping structures for off- <br />street parking of motor vehicles, and acquiring and improving rea] property <br />by clearing therefrom existing buildings thereon in connection therewith; <br /> <br /> NOW, ~tEREFORE, BE IT RESOLVED by the Council of the City of Lake- <br />wood, Cuyahoga County, Ohio: <br /> <br /> Section 1. That the fiscal officer of this City is hereby requested <br />to certify his estimate of the life of usefulness of the property and the <br />maximum maturity of bonds calculated in accordance with the ~rovisions of <br />Section 133.20 of the Revised Code and based on the following: <br /> <br />$3,250,000 for constructing such structure. <br /> <br />$ 250,000 for equipping such structure. <br /> <br />$ 11,550 for clearing existing buildings. <br /> <br />$ 153,450 for acquisition of real estate. <br /> <br /> Section 2. It is found and determined that all formal actions of <br />this Council concerning and relating to the adoption of this resolution were <br />adopted in an open meeting of this Council, and that all such deliberations <br />of this Council and of any of its committees that resulted in such formal <br />actions, were in meetings open to the public, in compliance with all legal <br />requirements including Section 121.22 of the Ohio Revmsed Code. <br /> <br /> Section 3. That this resolution shall be in force and take effect <br />immediately upon its adoption by Council <br /> <br />Approved: <br /> <br />t'residcnt of (k)hua[I / <br /> <br />, 1978 <br /> <br />Clerk of Council <br /> <br /> <br />