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-2- <br />SECTION 3. Section 1 of Resolution No. 97-13, passed on February 5, 1997, is <br />hereby amended to read as follows: <br />SECTION 1. It is declared necessary to issue general obligation bonds <br />of this City in the principal amount of $4,975,000 for the purpose of <br />constructing, furnishing, equipping and otherwise improving a free <br />public library building and preparing, landscaping and otherwise <br />improving its site (the Bonds), and to levy a tax outside of the 11.1-mill <br />limitation imposed by the City Charter to pay the debt charges on the <br />Bonds and on any notes issued in anticipation of the Bonds. Pursuant to <br />Section 133.18 of the Revised Code, the question of the issuance of the <br />Bonds and the levy of the tax shall be submitted to the electors of this <br />City at an election to be held on May 6, 1997. The approximate date of <br />the Bonds will be July 1, 1997. The principal of the Bonds will be paid <br />over a maximum of twenty years, and will bear interest at a rate now <br />estimated at 5-3/4% per annum, payable semiannually. <br />SECTION 4. Section 1 of Resolution No. 97-13, as passed on February 5, 1997, <br />is hereby repealed. <br />SECTION 5. This Council fords and determines that all formal actions of this <br />Council and of any of its committees concerning and relating to the adoption of this resolution <br />were taken, and that all deliberations of this Council and of any of its committees that resulted <br />in those formal actions were held, in meetings open to the public in compliance with the law. <br />SECTION 6. This resolution is declared to be an emergency measure necessary for <br />the immediate preservation of the public peace, health, safety and welfare of this City and for <br />the further reason that this resolution is required to be immediately effective so that it can be <br />timely filed with the Board of Elections in order to submit the bond issue to the electors on May <br />6, 1997; wherefore, this resolution shall be in full force and effect immediately upon its adoption <br />and approval by the Mayor. <br />Adopted: ~.~~ /~' , 1997 <br />~, <br />Cler o ou il <br />Attest: <br />. ,,~~~~ <br />Approved: 4~ ~'~~`~ ~ , 1997 <br />Mayor <br />~..e.~~~ <br />President of Council <br />xis K..I.~G. ; ~~~,v.Z..c.~(` <br /> <br />