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<br />CITY OF NORTH OLMSTED
<br />ORDINANCE NO. 2000-44
<br />BY: MR. MCKAY
<br />AN ORDINANCE PROVIDING FOR THE ISSUANCE AND
<br />SALE OF NOTES IN A MAXIMUM AGGREGATE PRINCIPAL
<br />AMOUNT OF $1,325,000, IN ANTICIPATION OF THE
<br />ISSUANCE OF BONDS, TO PAY COSTS OF IMPROVING
<br />CERTAIN DESIGNATED STREETS IN THE CITY BY
<br />GRADING, DRAINING, WIDENING, RECONSTRUCTING
<br />THE PAVEMENT BASE, PREPARING THE SURFACE,
<br />SURFACING AND RESURFACING, CONSTRUCTING AND
<br />RECONSTRUCTING CURBS, GUTTERS, CATCH BASINS,
<br />STORM SEWERS, SIDEWALKS AND DRNEWAY
<br />APPROACHES AND INSTALLING TRAFFIC SIGNS AND
<br />SIGNALIZATION, STREET LIGHTING AND RELATED
<br />UNDERGROUND WIltING, WHERE NECESSARY, IN EACH
<br />CASE TOGETAER WITH THE NECESSARY
<br />APPURTENANCES AND WORK INCIDENTAL THERETO.
<br />WHEREAS, the Director of Finance, as fiscal officer of this City, has certified to this
<br />Council that the estimated life or period of usefulness of each class of the improvements described
<br />in Section 1 is at least five years, the estimated maacimum maturity of the Bonds described in
<br />Section 1 is at least ten years, and the maximum maturity of the Notes described in Section 3, to be
<br />issued in anticipation of the Bonds, is fifteen years;
<br />NOW, THEREFORE, BE IT ORDAINED by the Council of the City of North Olmsted,
<br />Cuyahoga County, Ohio, that:
<br />Section l. It is necessary to issue bonds of this City in a maximum aggregate principal
<br />amount of $1,325,000 (the Bonds) to pay costs of improving Clague Road at its intersection with
<br />Lorain Road by grading, draining, widening, preparing the surface, surfacing and resurfacing,
<br />constructing curbs, gutters and catch basins and installing traffic signs and signalization; improving
<br />Sharon Drive by grading, draining, reconstructing the pavement base, preparing the surface,
<br />surfacing and resurfacing, and constructing and reconstructing curbs, gutters, catch basins, storm
<br />sewers, sidewalks and driveway approaches; improving Ashbury Park Drive, Benwood Circle,
<br />Berkshire Drive, Blossom Boulevard, Brendan Lane, Carsten Lane, Caton Place, Cottonwood Trail,
<br />Devon Drive, Dogwood Trail, Driscoll Lane, Edgepark Drive, Farestwood Parkway, Hyannis Port
<br />Drive, Laurell Lane, Leenders Lane, Linwood Circle, Lisa Lane, Lusandra Circle, Marcie Lane,
<br />Marquette Boulevard, Mary Kay Circle, Newton Circle, Pine Circle, Root Road, Ross Circle,
<br />Sanders Lane, Sparky Lane, Westview Drive, Williamstown Drive and Wood Park Lane by
<br />reconstructing sections of the pavement base, where necessary; and improving Amesbury Drive,
<br />Andorra Drive, Ashton Circle, Azalea Lane, Bentley Drive, Benwood Circle, Blossom Boulevard,
<br />Camellia Lane, Carriage Lane, Cedarwood Lane, Cottonwood Lane, Curtis Drive, Danberry Drive,
<br />Delemere Drive, Dogwood Trail, Edgepark Boulevard, Forrestwood Parkway, Gardenia Drive,
<br />.? ?.
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