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<br />CITY OF NORTH OLMSTED
<br />ORDINANCE NO. 96-79
<br />BY: Councilmember Lind
<br />
<br />AN ORDINANCE PROVIDING FOR THE ISSUANCE
<br />AND SALE OF $945,000 NOTES, IN ANTICIPATION OF
<br />THE ISSUANCE OF BONDS, FOR THE PURPOSE OF
<br />IMPROVING THE CITY'S PARK AND RECREATIONAL
<br />FACILITIES BY ACQUIRING AND INSTALLING HEAT-
<br />ING, VENTILATING AND AIR CONDITIONING EQUIP-
<br />MENT FOR THE COMMUNITY CABIN AND IMPROV-
<br />ING THE RECREATION CENTER COMPLEX BY SUR-
<br />FACING AND RESURFACING PARKING AREAS AND
<br />DRIVEWAYS, PROVIDING CURBS, RELATED DRAIN-
<br />AGE IMPROVEMENTS, LANDSCAPING AND LIGHT-
<br />ING THEREFOR, RECONSTRUCTING AND PAVING
<br />WITH CONCRETE THE EXISTING WALKWAY FROM
<br />LORAIN ROAD TO THE COMPLEX AND CONSTRUCT-
<br />ING A BUILDING TO HOUSE MAINTENANCE EQUIP-
<br />MENT THEREFOR ON ITS SITE, ALL TOGETHER
<br />WITH THE NECESSARY APPURTENANCES AND
<br />WORK INCIDENTAL THERETO, AND DECLARING AN
<br />EMERGENCY.
<br />WHEREAS, pursuant to Ordinance No. 93-57, passed on May 18, 1993, notes in
<br />anticipation of bonds in the amount of $245,000 were issued for the purpose of improving the
<br />City's park and recreational facilities by acquiring and installing heating, ventilating and air
<br />conditioning equipment for the Community Cabin; by resurfacing with asphalt and curbing, and
<br />acquiring and installing street lighting for, the Recreation Center parking lot and the driveway
<br />from Lorain Road to that parking lot; by reconstructing and paving with concrete the existing
<br />walkway from Lorain Road to the Recreation Center; and by draining and landscaping the
<br />Recreation Center site, all together with the necessary appurtenances and work incidental thereto,
<br />as a part of a consolidated issue of $3,450,000 Various Purpose Notes, Series 1993B, dated June
<br />24, 1993, which notes were retired at maturity with the proceeds of $245,000 notes issued in
<br />anticipation of bonds pursuant to Ordinance No. 94-52, passed on March l, 1994, as a part of
<br />a consolidated issue of $3,600,000 Various Purpose Notes, Series 1994B, dated March 23, 1994,
<br />which notes were retired at maturity with the proceeds of $245,000 notes issued in anticipation
<br />of bonds pursuant to Ordinance No. 94-138, passed on September 20, 1994, as a part of a
<br />consolidated issue of $11,755,000 Various Purpose Improvement Notes, Series 1994E, dated
<br />October 18, 1994, which notes were retired at maturity with the proceeds of $245,000 notes (the
<br />1995A Notes) issued in anticipation of bonds pursuant to Ordinance No. 95-79, passed on June
<br />6, 1995, as amended by Ordinance No. 95-89, passed on June 6, 1995, as a part of a
<br />consolidated issue of $35,310,000 Various Purpose Improvement Notes, Series 1995, dated June
<br />22, 1995, which 1995A Notes are to mature on June 20, 1996; and
<br />WHEREAS, pursuant to Ordinance No. 94-37, passed on March 1, 1994, as
<br />amended by Ordinance No. 94-77, passed on April 19, 1994, notes in anticipation of bonds in
<br />the amount of $300,000 (the 1994C Notes) were issued for the purpose of improving the
<br />Recreation Center Complex by surfacing and resurfacing parking areas and driveways, providing
<br />related drainage improvements and constructing a building to house maintenance equipment
<br />D03: (00523.DOCS. NOR05225]NOTE_ORD_PARK_REC_$945.
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