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ORDINANCE NO. 95-48 <br />INTRODUCED BY: Mayor Rinker and Council as a Whole <br />AN EMERGENCY ORDINANCE <br />AUTHORIZING AN AGREEMENT WITH A.G. EDWARDS <br />& SONS, INC. TO SERVE AS UNDERWRITER FOR THE <br />NEW FIRE STATION BONDS <br />WHEREAS, it is anticipated that the Village will require <br />approximately Three Million Dollars in bonds for the construction <br />of the new fire station, and that these bonds will be sold in 1996; <br />and <br />WHEREAS, the Finance Director is recommending a professional <br />underwriter to assist the Village in purchasing long term bonds for <br />the reason that the bond market is fluctuating as well as the <br />interest rates, and that negotiating the sale of the fire station <br />bonds through an underwriter will be beneficial to the Village; and <br />WHEREAS, A.G. Edwards & Sons, Inc. has submitted a proposal to <br />perform such services and same is incorporated herein as Exhibit <br />nAn~ <br />NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF HAYFIELD <br />VILLAGE, OHIO, THAT: <br />SECTION 1. That the Mayor and Director of Finance are <br />authorized to enter into an agreement with A. G. Edwards & Sons, <br />Inc. pursuant to the terms and conditions set forth in Exhibit "A" <br />attached hereto and incorporated herein by reference. <br />SECTION 2. The Director of Finance is authorized to make <br />payment to A.G. Edwards & Sons, Inc. pursuant to the obligations <br />set forth in Exhibit "A". <br />SECTION 3. The Council finds and determines that all formal <br />actions of this Council relating to the adoption of this Ordinance <br />have been taken at open meetings of this Council; and that <br />deliberations of this Council and of its committees, resulting in <br />such formal action, took place in meetings ,open to the public, in <br />compliance with all statutory requirements including the <br />requirements of Section 121.22 of the Ohio Revised Code. <br />SECTION 4. This Ordinance is hereby declared to be an <br />emergency measure immediately necessary for the health, safety and <br />welfare of the residents of Mayfield Village, Ohio, and for the <br />further reasons set forth in the preamble hereof. It shall, <br />therefore, take effect immediately upon the passage by the <br />affirmative vote of not less than five (5) members elected to <br />Council and approval by the Mayor or otherwise at the earliest time <br />allowed by law. <br />