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~: BY : ~ _ CITY OF NORTH OLMSTED RESOLUTION N0. ~,~/~ RESOLUTION AWARDING TWO ISSUES OF BONDS TO THE HIGHEST BIDDER, AND DECLARING AN EMERGENCY. WHEREAS, on the 19th day of February, 1974, bids were received for the purchase of $1,070,000 Sanitary Sewer Improvement Bonds and $95,000 Real Estate Acquisition Bonds authorized by Ordinance Nos. 74-10 and 74-12, respectively, passed January 15, 1974, following due advertisement of said bonds for public sale in accordance with law, which bids were as follows: Name of Bidder Amount of Bonds Bid For Interest Rate Premium Prescott, Ball & Turben $1,165,000 5 3/8 $9,031.50 McDonald & Co. 1,165,000 5 3/8 9,755.00 Roos e, Wade & Co. 1,165,000 5 3/8 2,120.20 Seasongood & Mayer 1,165,000 5 3/8 14,294.55 WHEREAS, the bid for Seasongood & Mayer has been determined to be the highest bid for said bonds based upon the lowest rate of interest; NOW, THEREFORE, BE IT RESOLVED by the Council of the City of North Olmsted, Cuyahoga County, Ohio: Section 1. That the aforesaid $1,070,000 Sanitary Sewer Improve- ment Bonds and $95,000 Real Estate Acquisition Bonds authorized by Ordinance Nos. 74-10 and 74-12, respectively, passed January 15, 1974, maturing as provided in said ordinances and bearing interest at the rate of five and three eights per centum per annum, be and they are hereby awarded and sold to SeasonEood & Mayer of Cincinnati. Ohio. Section 2. That the Director of Finance be and he 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 par value thereof, plus the aforesaid pro rated premium and accrued interest to date of delivery. Section 3. That the Director of Finance is hereby authorized and directed to certify a copy of this resolution to the Auditor of Cuyahoga County according to law. _ i