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<br />CITY OF NORTH OLMSTED
<br />ORDINANCE NO. 96-136
<br />BY: Councilmember Lind
<br />
<br />AN ORDINANCE PROVIDING FOR THE ISSUANCE AND SALE
<br />OF BONDS IN THE MAXIMUM AGGREGATE PRINCIPAL
<br />AMOUNT OF $355,000 FOR THE PURPOSE OF ACQUIRING AND
<br />INSTALLING COMPUTER EQUIPMENT, INCLUDING
<br />NETWORKING HARDWARE AND SOFTWARE, PERSONAL
<br />COMPUTER WORK STATIONS, PRINTERS, SOFTWARE AND
<br />CABLES, TOGETHER WITH THE NECESSARY APPURTENANCES
<br />THERETO.
<br />WHEREAS, pursuant to Ordinance No. 93-122, passed on October 19, 1993, notes
<br />in the amount of $345,000 were issued in anticipation of bonds for the purpose described in
<br />Section 2, as a part of a consolidated issue of $545,000 Various Purpose Notes, Series 1993C,
<br />dated November 23, 1993, which notes were retired at maturity with the proceeds of $345,000
<br />notes issued in anticipation of bonds pursuant to Ordinance No. 94-134, passed on
<br />September 20, 1994, as a part of a consolidated issue of $11,755,000 Various Purpose
<br />Improvement Notes, Series 1994E, dated October 18, 1994, which notes were retired at maturity
<br />with the proceeds of $345,000 notes issued in anticipation of bonds pursuant to Ordinance No.
<br />95-77, passed on June 6, 1995, as amended by Ordinance No. 95-89, passed on June 6, 1995,
<br />as a part of a consolidated issue of $35,310,000 Various Purpose Improvement Notes, Series
<br />1995, dated June 22, 1995, which notes were retired at maturity with the proceeds of $345,000
<br />notes (the Outstanding Notes) issued in anticipation of bonds pursuant to Ordinance No. 96-83,
<br />passed on May 9, 1996, as a part of a consolidated issue of $42,435,000 Various Purpose
<br />Improvement Notes, Series 1996, dated June 19, 1996, which Outstanding Notes are to mature
<br />on December 19, 1996; and
<br />WHEREAS, this Council finds and determines that the City should issue the Bonds
<br />described in Section 2 to provide funds to retire the Outstanding Notes and up to an additional
<br />$10,000 to pay financing costs in connection therewith; and
<br />WHEREAS, the Director of Finance, as fiscal officer of this City, has certified to
<br />this Council that the estimated life or period of usefulness of each class of the equipment
<br />described in Section 2 is at least five years and that the maximum maturity of the Bonds
<br />described in Section 2 is nine years;
<br />NOW, THEREFORE, BE IT ORDAINED by the Council of the City of North
<br />Olmsted, Cuyahoga County, Ohio, that:
<br />Section 1. Definitions and Interpretations. In addition to the words and terms
<br />elsewhere defined in this ordinance, unless the context or use clearly indicates another or
<br />different meaning or intent:
<br />"Annual Information" means annual financial information and operating data of the
<br />type to be specified in the Continuing Disclosure Certificate in accordance with the Rule.
<br />"Authorized Denominations" means (a) with respect to Capital Appreciation Bonds,
<br />if any, the denomination equal to the original principal amount that, when interest is accrued and
<br />compounded thereon on each Interest Accretion Date to the stated maturity of those Bonds, will
<br />D03: [00523. DOCS. NOR05228]BOND_ORDINANCE_COMPUTER_EQUIP_$355.
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