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<br />CITY OF NORTH OLMSTED
<br />ORDINANCE N0. 92- 159
<br />BY: COUNCILMAN LIND
<br />AN ORDINANCE PROVIDING FOR THE ISSUANCE AND SALE OF
<br />$4,975,000 NOTES, IN ANTICIPATION OF THE ISSUANCE OF
<br />BONDS, FOR THE PURPOSE OF IMPROVING THE MUNICIPAL
<br />SANITARY SEWER SYSTEM BY CONSTRUCTING, RECONSTRUCTING,
<br />REHABILITATING AND REPLACING SANITARY SEWERS AND
<br />SANITARY SEWER CONNECTIONS AND BY IMPROVING AND
<br />EQUIPPING THE WASTEWATER TREATMENT PLANT, TOGETHER
<br />WITH THE NECESSARY APPURTENANCES AND WORK INCIDENTAL
<br />THERETO, AND DECLARING AN EMERGENCY.
<br />WHEREAS, pursuant to Ordinance No. 90-95, passed September 18, 1990,
<br />notes in anticipation of bonds in the amount of $1,200,000, dated October 30,
<br />1990, were issued for the purpose stated in Section 1; which notes were
<br />retired at maturity with the proceeds of $1,200,000 notes dated May 30, 1991,
<br />issued in anticipation of bonds for the purpose stated in Section 1, pursuant
<br />to Ordinance No. 91-74, passed May 21, 1991; which notes were retired at
<br />maturity with the proceeds of $1,200,000 notes dated February 13, 1992, issued
<br />in anticipation of bonds for the purpose stated in Section 1, pursuant to
<br />Ordinance No. 92-8, passed February 3, 1992; which notes were retired at
<br />matiarity with the proceeds of $1,200,000 notes in anticipation of bonds issued
<br />for the purpose stated in Section 1 pursuant to Ordinance No. 92-92 passed
<br />August 18, 1992, as part of the City's $3,990,000 Various Purpose Notes, Third
<br />Series, dated August 27, 1992 and maturing December 18, 1992 (the 1992-A
<br />Notes); and
<br />WHEREAS, pursuant to Ordinance No. 91-85, passed June 18, 1991, notes
<br />in anticipation of bonds in the amount of $1,775,000 were issued for the pur-
<br />pose stated in Section 1, as part of the City's $4,200,000 Various Purpose
<br />Notes, Second Series, dated July 31, 1991; which $1,775,000 notes were retired
<br />at maturity with the proceeds of $1,775,000 notes in anticipation of bonds
<br />issued for the purpose stated in Section 1 pursuant to Ordinance No. 92-32
<br />passed April 7, 1992, as amended by Ordinance No. 92-40 passed April 21, 1992,
<br />as part of the City's $4,200,000 Various Purpose Notes, First Series, dated
<br />April 23, 1992 and maturing December 18, 1992 (the 1992-B Notes); and
<br />WHEREAS, pursuant to Ordinance No. 92-30 passed April 21, 1992, as
<br />amended by Ordinance No. 92-49 passed May 5, 1992, notes in anticipation of
<br />bonds in the amount of $2,000,000 were issued for the purpose stated in
<br />Section 1, as part of the City's $3,400,000 Various Purpose Notes, Second
<br />Series, dated May 27, 1992 and maturing December 18, 1992 (the 1992-C Notes);
<br />and
<br />WHEREAS, this Council finds and determines that the City shoitld
<br />retire the outstanding 1992-A Notes, 1992-B Notes and 1992-C Notes with the
<br />proceeds of the Notes described in Section 3; and
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