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CITY OF NORTH OLMSTED
<br />ORDINANCE NO. 99- 22
<br />BY: COUNCILMAN 01 GRADY
<br />AN ORDINANCE PROVIDING FOR THE ISSUANCE AND
<br />SALE OF NOTES IN A MAXIMUM AGGREGATE PRINCIPAL
<br />AMOUNT OF $1,100,000, IN ANTICIPATION OF THE
<br />ISSUANCE OF BONDS, FOR THE PURPOSE OF IMPROVING
<br />CERTAIN DESIGNATED STREETS IN THE CITY, IN
<br />COOPERATION WITH CUYAHOGA COUNTY, THE CITY OF
<br />WESTLAKE AND THE DIRECTOR OF TRANSPORTATION
<br />OF THE STATE OF OHIO AND OTHERWISE, BY GRADING,
<br />DRAINING, CURBING, RECONSTRUCTING THE
<br />PAVEMENT BASE, PREPARING THE SURFACE,
<br />SURFACING AND RESURFACING AND INSTALLING
<br />STREET LIGHTING AND RELATED UNDERGROUND
<br />WIltING, IN EACH CASE TOGETHER WITH THE
<br />NECESSARY APPURTENANCES AND WORK INCIDENTAL
<br />THERETO.
<br />WHEREAS, the Director of Finance, as fiscal officer of this City, has certified to
<br />this Council that the estimated life or period of usefulness of each class of the improvements
<br />described in Section 1 is at least five years, the estimated maximum maturity of the Bonds described
<br />in Section 1 is 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
<br />Olmsted, Cuyahoga County, Ohio, that:
<br />Section 1. It is necessary to issue bonds of this City in a maximum aggregate principal
<br />amount of $1,100,000 (the Bonds) for the purpose of improving, in cooperation wrth the Director of
<br />Transportation of the State of Ohio, Brookpark Road from Great Northern Boulevard to the easterly
<br />corporation line by grading, draining, widening, constructing and reconstructing curbs and surfacing
<br />and resurfacing; improving, in cooperation with the City of Westlake, Maple Ridge Road from
<br />Walter Road westerly to Columbia Road; improving West 231 St Street from Lorain Road to
<br />Alexander Road and, in cooperation with Cuyahoga County, Gessner Road from Lorain Road to
<br />Walter Road by preparing the surface and resurfacing; improving Woodview Drive from Sharon
<br />Drive to Bridgeport Drive by grading, draining, curbing, reconstructing the pavement base and
<br />surfacing; improving Great Northern Boulevard from the southerly limit of the I-480 right-of-way
<br />to the northerly limit of the I-480 right-of-way by constructing sidewalks; improving Benwood
<br />Circle, Blossom Boulevard, Brendan Lane, Bristol Lane, Brookpark Road Extension, Chapel Hill
<br />Drive, Cottonwood Trail, Devon Drive, Dogwood Trail, East Park Drive, Fairfax Lane, Forestwood
<br />Parkway, Kingston Circle, Laurell Lane, Limpert Lane, Linwood Circle, Lisa Lane, Lusandra
<br />Circle, Marcie Lane, Marquette Boulevard, Mary Kay Circle, Mitchell Drive, Newton Circle, Park
<br />Place, Pine Circle, Sanders Lane, Sharon Drive, Sparky Lane, Sudbury Drive, Sweetbriar Drive,
<br />Tree Lane, Waterbury Circle, Winton Park Drive and Woodpark Lane by reconstructing sections of
<br />the pavement base, where necessary; and improving Andorra Drive, Angela Drive, Ashton Circle,
<br />Azalea Lane, Bentley Drive, Camellia Lane, Carla Lane, Carriage Lane, Cedarwood Lane, Curtis
<br />Drive, Danberry Drive, Fairlawn Drive, Gardenia Drive, Kew Drive, Linden Circle, Louann Drive,
<br />Nancy Drive, Nandina Drive, North Court, Oak Circle, Oak Lane, Plumwood Drive, South Court,
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