77-099 Ordinance - Laserfiche WebLink

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,.. .- ,~ ,,. . CITY OF NORTH OLMSTED RESOLUTION N0. ~~~ A RESOLUTION AWARDING TWO ISSUES OF REAL ESTATE ACQUISITION BONDS AND AN ISSUE OF SIDEWALK BONDS, AND DECLARING AN EMERGENCY. WHEREAS, after notice duly published as required by law, bids were received on June 7, 1977 for the purchase of three issues of bonds aggregating in amount $239,210 and consisting of $35,000 Real Estate Acquisition Bonds, Series 1977-1, $188,000 Real Estate Acquisition Bonds, Series 1977-2, and $16,210 Sidewalk Bonds which were authorized by Ordinance Nos. 77-68, 77-67 and 77-70, passed by the Council on May 3, 1977; and WHEREAS, it has been determined that the highest bid for said issues based upon the lowest interest rate as defined in the notice of sale therefor is that of McDonald & Company ~ Cleveland, Ohio which bid an interest rate of 5 5/g % for said bonds plus a premium of $ 1.329.00 NOW, THEREFORE, BE IT RESOLVED by the Council of the City of North Olmsted, Cuyahoga County, Ohio: Section 1. That the aforesaid issues of $35,000 Real Estate Acquisition Bonds, Series 1977-1, $188,000 Real Estate Acquisition Bonds, Series 1977-2, and $16,210 Sidewalk Bonds of the City authorized by Ordinance Nos. 77-68, 77-67 and 77-70 above mentioned, be and they hereby are awarded and sold to McDonald & Company with the notice of sale and their bid for said bonds. in accordance Section 2. That the Clerk of Council is hereby authorized and directed to cause said bonds to be printed forthwith and thereupon to have the same executed and delivered, together with a true transcript of the proceedings authorizing said bonds, to said successful bidder upon payment of the amount bid, plus accrued interest to the date of delivery.