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SQUIRE, SANDERS SL DEMPSEY L.L.P. <br />The Honorable Normarz T. Musial, Mayor <br />? July 3, 2000 <br />Page 2 <br />City's assessed valuation, I calculate that the average <br />annual millage will be approximately 1.10 mills for each <br />one dollar of valuation. If the County Auditor's <br />calculation is substantially different, please contact me at <br />once. <br />After receiving the County Auditor's millage certificate, if Council then <br />determines to proceed with the election it must adopt a second resolution (called the <br />"resolution to proceed") and file it, together with the enclosed resolution of necessity, the <br />completed County Auditor's certificate and other related materials, with the Cuyahoga County <br />Board of Elections on or before Thursday, August 24, 2000. <br />For the transcript of election proceedings, please return a certified copy of the <br />enclosed resolution, together with supporting minutes, and signed copies of the County <br />Auditor's millage certificate. <br />In the event the election is successful, before the bonds (or any anticipatory notes) <br />are issued it will be necessary for the City to enter into a formal lease agreement with the Boazd <br />of Library Trustees of the Cuyahoga County Public Library pursuant to which the facilities <br />financed will be leased for the period during which the debt issued to finance them will be <br />outstanding. <br />If you have any questions xegarding any of these matters, please give me a call. <br />John S. Larson/bw <br />Enclosures <br />V ery truly yours, <br />4t. ?4, \.- <br />cc: Barbara Seman, Clerk of Council -/ <br />Carrie B. Copfer, Director of Finance <br />Michael R. Gareau, Director of Law <br />John A. Lonsak, Executive Director, Cuyahoga County Public Library <br />Michael Morley, Facilities Director <br />