72-094 Ordinance - Laserfiche WebLink

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CITY oa ltClRTli OI~E33'RD OR~IFAIiCE A0. ~~~ m ~~ AN oR1aII1tAlFC1~ ZZI~ IS~A1fAR tJ!' FoR TSE 0~' To ~ TA REAL BS'f119~ A.1~ H13IIisZ'!~ RAE ' SAY 1 ARD It396 SPA ` ('R- TSE CITY, Alm DISCLAR:LlMC~ All' B~C~#]3JiC'Y. a X05,000 mete was issued pursuant to Ordinance Ro. 71-119 in anticipatioei of the bonds herein autha~rired, which note matures on August 26, 1972; and , the fiscal oi'fiaer of the City has certified hie estimate of the life crP uset~iln~ess of the party and i~~ovement hereinafter aemti~ad stsd the maturity of bands, bssimg said maximum maturities upcx~ certain alloca- tiot~s of the saanmts far the several classes of i~rovements included in said issue of boaads, which allocations this Conseil hereby approves and confirms; I~T~T, 'i'OR~C, ~ IT OR'OAII~D by the Council of the City of Borth Olmsted, Cuyahoga Canary, Ohio: Section 1. That it is hereby declared necessary to issue bands of the City of North Olmsted in the principal :um crt $d13,30o far the purpose of pro- viding funds to purchase certain real estate and the building tlee7eeaa for use by the Safety Depar'tsMett and Service Zlerpartment a~P the City, and to flee extent necessary, t© pay not to exceed dos yeasts interest on said bands or on flee note issued in antieipatian thereof. Section 2. Said beds shall be issued in flee principal amannt of #13,340 far the psrpa~se aforesaid. The said beads shall be dated A~stst 1, 1972, sha11 be issued is tl~e denaaiaation of X5,404 sash, except Bond No, 1 vdsi~sh aha11 be in the deacainatiaa arl $1,300 and board Aos. ~ and 7 ~hicb shall. be is the de~tiea- tic3n of $l, 000 each, shall be nteebered frm 1 to ~t5, baFth inclusive, and shall bear interest at the rate of five a~tcl one-?calf' per a~eats~ {5-1/$~i) per ate, payable semi-annually on the first day of ~ cad the first dt~y of De r of each year beg3amin~r die 1, 1973, until the pri.eecipal swt is paid, ss evi by the costposs attached thereto; provided, hcertvsr, that if the bc+sds are sold bearing a different rate of interest than herein spe~aified, such bamals sleall. bear such rate of interest as ~ be prrovided in the resolatioeq of Co~etil ap- prrnring the award thereof. Such bonds shall mature in their canaecutive s+arfai order as fellows: $11,300 on Deceaaber 1, 1973; 1,000 on Deceeeber 1 in each of the years 1971+ and 1975; and 10,000 on ~ecesber 1 in each of the years frcee 1876 to 1993, inclusive; which maturities are hereby determiteed to be is substantially equal asenu~sl in- stallments. Section 3. Said bonds shall be signed by the Mayor and Mrector of Fissace, provided that one ail sash si~m-tures may be a fscsimila signatura, and shall bear the corporate seal of said City. Interest ac~poss attached to said bonds shall ~;~P ~,-,Y . .