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Council Minutes of 2/21/2006
<br />call for optional redemption on December 1, 2010 of all of the refunded bonds; and authorizing
<br />the execution and delivery of a bond registrar agreement and a bond purchase agreement with
<br />respect to the refunding bonds and an escrow agreement with respect to the refunding of refunded
<br />bonds. Councilman Tallon moved for adoption. The motion was seconded by Councilman Ryan
<br />and passed unanimously. Ordinance No. 2006-29 adopted.
<br />Ordinance No. 2006-30 introduced by Mayor O'Grady was given its third reading. An ordinance
<br />providing for the issuance and sale of bonds in the maximum aggregate principal amount $1,500,000
<br />for the purpose of refunding at a lower interest cost the $1,410,000 of outstanding Springvale
<br />Golf Course and Ballroom improvement bonds, series 2001, that were issued as a part of a
<br />consolidated issue of capital improvement and refunding bonds, series 2001, dated as of May 1,
<br />2001, for the purpose of improving the city's Springvale Golf Course and Ballroom facility by
<br />constructing an irrigation system, a maintenance and storage building and drainage, cart path and
<br />other improvements for the golf course and renovating,. remodeling, adding to, furnishing, equipping
<br />and otherwise improving the clubhouse and balkoom and are stated to mature on December 1 in
<br />2013 through 2016 and 2021; authorizing and directing the call for optional redemption on
<br />December 1, 2010 of all of the refunded bonds; and authorizing the execution and delivery of a
<br />bond registrar agreement and a bond purchase agreement with respect to the refunding bonds and
<br />an escrow agreement with respect to the refunding of refunded bonds. Councilman Tallon moved
<br />for adoption. The motion was seconded by Councilman Ryan and passed unanimously.
<br />Ordinance No. 2006-30 adopted.
<br />Ordinance No. 2006-31 introduced by Mayor O'Grady was given its third reading. An ordinance
<br />providing for the issuance and sale of bonds in the maximum aggregate principal amount $520,000
<br />for the purpose of refunding at a lower interest cost the $515,000 of outstanding street
<br />improvement bonds, series 2001, that were issued as a part of a consolidated issue of capital
<br />improvement and refunding bonds, series 2001, dated as of May 1, 2001, for the purpose of
<br />improving certain designated streets in the city, in cooperation with Cuyahoga County and otherwise,
<br />by grading, draining, widening, reconstructing the pavement base, preparing the surface, surfacing
<br />and resurfacing, constructing and reconstructing curbs, gutters, catch basins, storm sewers, sanitary
<br />sewers, water lines, sidewalks and driveway approaches and installing traffic signs and signalization,
<br />street lighting and related underground wiring, where necessary, in each case together with the
<br />necessary appurtenances and work incidental thereto, and are stated to mature on December 1 in
<br />2013 through 2016; authorizing and directing the call for optional redemption on December 1,
<br />2010 of all of the refunded bonds; and authorizing the execution and delivery of a bond registrar
<br />agreement and a bond purchase agreement with respect to the refunding bonds and an escrow
<br />agreement with respect to the refunding of refunded bonds. Councilman Tallon moved for
<br />adoption. The motion was seconded by Councilman Ryan and passed unanimously. Ordinance
<br />No. 2006-31 adopted.
<br />Ordinance No. 2006-32 introduced by Mayor O'Grady was given its third reading. An ordinance
<br />providing for the issuance and sale of bonds in the maximum aggregate principal amount $305,000
<br />for the purpose of refunding at a lower interest cost the $285,000 of outstanding storm water
<br />drainage system improvement bonds, series 2001, that were issued as a part of a consolidated
<br />issue of capital improvement and refunding bonds, series 2001, dated as of May 1, 2001, for the
<br />purpose of improving the city's storm water drainage system by constructing, reconstructing and
<br />otherwise improving storm sewers and other storm water drainage facilities, together with the
<br />necessary appurtenances and work incidental thereto, and are stated to mature on December 1 in
<br />2013 through 2016 and 2021; authorizing and directing the call for optional redemption on
<br />December 1, 2010 of all of the refunded bonds; and authorizing the execution and delivery of a
<br />bond registrar agreement and a bond purchase agreement with respect to the refunding bonds and
<br />an escrow agreement with respect to the refunding of refunded bonds. Councilman Tallon moved
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