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ORDINANCE N0. 92- 117
<br />gy; COUNCILMAN LE, OI`1ARD
<br />AN ORDINANCE PROVIDING FOR THE ISSUANCE AND SALE OF
<br />BONDS IN THE MAXIMUM AGGREGATE PRINCIPAL AMOUNT OF
<br />$206,000 FOR THE PURPOSE OF PROVIDING FUNDS TO PAY
<br />COSTS OF THE JUDGMENT RENDERED AGAINST THE CITY IN
<br />CIVIL ACTION NUMBER C82-3089 IN THE UNITED STATES
<br />DISTRICT COURT FOR THE NORTHERN DISTRICT OF OHIO,
<br />EASTERN DIVISION, AND LOSSES, DAMAGES AND EXPENSES
<br />RELATED THERETO, AND DECLARING AN EMERGENCY.
<br />WHEREAS, on September 9, 1987, the United States District Court for
<br />the Northern District of Ohio, Eastern Division, in Civii Action Number C82-
<br />3089 enter.ed an order requiring the City to reinstate to her former job an
<br />employee discharged during a probationary period and to pay that employee back
<br />pay, which order was affirmed on appeal; and
<br />WHEREAS, in order to pay costs of the judgment rendered against the
<br />City in that action and the related losses, damages and expenses, the City
<br />issued $170,000 of notes dated August 10, 1988 and $130,000 of notes dated
<br />September 1, 1988, pursuant to Ordinance No. 88-87, passed July 5, 1988; which
<br />notes (collectively, the 1988 Notes) were retired at maturity with funds of
<br />the City and proceeds of $270,000 notes dated August 10, 1989 (the 1989 Notes)
<br />issued in anticipation of bonds pursuant to Ordinance No. 89-60, passed July
<br />6, 1989; which 1989 Notes were retired at maturity with funds available to the
<br />City and proceeds of $240,000 notes dated June 5, 1990 (the 1990 Notes) issued
<br />in anticipation of bonds pursuant to Ordinance No. 90-63, passed May 15, 1990;
<br />which 1990 Notes were retired at maturity with the proceeds of $240,000 notes
<br />issued in anticipation of bonds for the purpose stated in Section 1, pursuant
<br />to Ordinance No. 91-22, passed February 6, 1991 (the 1991 Notes) as part of
<br />the City's $3,040,000 Various Purpose Notes, dated March 5, 1991; which 1991
<br />Notes were retired at maturity with the proceeds of $200,000 notes issued in
<br />anticipation of bonds for the purpose stated in Section 1, pursuant to
<br />Ordinance No. 91-165, passed November 5, 1991, as part of the City's
<br />$2,940,000 Various Purpose Notes, Series 1991, dated December 4, 1991 and to
<br />mature on September 4, 1992; and
<br />WHEREAS, pursuant to an ordinance adopted August 18, 1992, notes in
<br />anticipation of bonds in the amount of $200,000 (the 1992 Notes) are to be
<br />issued for the purpose stated in Section 1 as part of the City's $3,990,000
<br />Various Purpose Notes, Third Series, to be dated August 27, 1992 and to mature
<br />on December 18, 1992; and
<br />WHEREAS, this Council finds and determines that the City should
<br />retire the 1992 Notes with the proceeds of the Bonds described in Section 1
<br />and provide up to an additional $6,000 to pay costs of issuance of the Bonds
<br />described in Section 1; and
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