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<br />CITY OF NORTH OLMSTED
<br />ORDINANCE NO. 95-64
<br />BY: Councilmember Lind
<br />AN ORDINANCE PROVIDING FOR THE ISSUANCE
<br />AND SALE OF $3,830,000 NOTES, IN
<br />ANTICIPATION OF THE ISSUANCE OF BONDS,
<br />FOR THE PURPOSE OF IMPROVING CERTAIN
<br />DESIGNATED STREETS IN THE CITY'S STREET
<br />SYSTEM. BY GRADING, DRAINING,
<br />RECONSTRUCTING THE PAVEMENT BASE,
<br />PREPARING THE SURFACE AND SURFACING AND
<br />RESURFACING, BY CONSTRUCTING,
<br />RECONSTRUCTING AND REHABILITATING CATCH
<br />BASINS, CURBS, DRIVEWAY APRONS, SANITARY
<br />SEWERS AND SANITARY SEWER SERVICE
<br />CONNECTIONS, SIDEWALKS, STORM SEWERS
<br />AND WATER MAINS AND WATER SERVICE
<br />CONNECTIONS AND BY INSTALLING STREET
<br />LIGHTING, TOGETHER WITH NECESSARY
<br />APPURTENANCES AND WORK INCIDENTAL
<br />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
<br />described in Section 1 is at least five years, the estimated maximum maturity of the Bonds
<br />described in Section 1 is twenty years, and the maximum maturity of the Notes described in
<br />Section 3, to be issued in anticipation of the Bonds, is twenty 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 the aggregate principal
<br />amount of $3,830,000 (the Bonds) for the purpose of improving the City's street system (i) by
<br />grading, draining, curbing, reconstructing the pavement base and surfacing, reconstructing and
<br />rehabilitating catch basins, driveway aprons, sanitary sewers and sanitary sewer service
<br />connections, sidewalks, storm sewers and water mains and water service connections and
<br />installing street lighting, where necessary, in Alden Drive, Alexander Road, Ambour Road,
<br />Beech Lane, Bretton Ridge, Douglas Drive, Frank Street, Park Lane, Somerset Drive, Stafford
<br />Drive, Sweetbriar Drive and Willett Road; and (ii) by reconstructing sections of the pavement
<br />base, prepazing the surface and resurfacing, reconstructing and rehabilitating catch basins, curbs,
<br />sidewalks and driveway aprons, where necessary, in Berkshire Drive, Byron Drive, Defoe
<br />Drive, Devon Drive, Dryden Drive, Fielding Drive, Hampton Drive, Keats Drive, Lydgate
<br />Drive, North Court, Old Shore Drive, Shelley Drive, South Court, Tallwood Drive, Tennyson
<br />Lane, Tudor Drive, Wedgewood Drive and Wild Oak Drive; in each case together with
<br />necessary appurtenances and work incidental thereto.
<br />D03: [00523. DOCS.NOR05223]ORD_NM_STREETS_3.830
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