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<br />CITY OF NORTH OLMSTED
<br />ORDINANCE NO. 96-134
<br />BY: Councilmember Lind
<br />AN ORDINANCE PROVIDING FOR THE ISSUANCE AND SALE
<br />OF BONDS IN THE MAXIMUM AGGREGATE PRINCIPAL
<br />AMOUNT OF $770,000 FOR THE PURPOSE OF ACQUIRING FIRE
<br />TRUCKS, TOGETHER WITH THE NECESSARY EQUIPMENT AND
<br />APPURTENANCES THERETO, FOR USE IN CARRYING OUT
<br />FUNCTIONS OF THE DIVISION OF FIRE OF THE DEPARTMENT
<br />OF PUBLIC SAFETY.
<br />WHEREAS, pursuant to Ordinance No. 93-49, passed on April 20, 1993, notes in
<br />anticipation of bonds in the amount of $250,000 were issued for the purpose of acquiring a fire
<br />truck, together with the necessary equipment and appurtenances thereto, as a part of a
<br />consolidated issue of $510,000 Various Purpose Notes, Series 1993A, dated May 25, 1993,
<br />which notes were retired at maturity with the proceeds of $250,000 notes issued in anticipation
<br />of bonds pursuant to Ordinance No. 94-4, passed on January 4, 1994, as a part of a consolidated
<br />issue of $2,510,000 Various Purpose Notes, Series 1994A, dated January 19, 1994, which notes
<br />were retired at maturity with the proceeds of $250,000 notes (the 1994E Notes) issued in
<br />anticipation of bonds pursuant to Ordinance No. 94-137, passed on September 20, 1994, as a
<br />part of a consolidated issue of $11,755,000 Various Purpose Improvement Notes, Series 1994E,
<br />dated October 18, 1994; and
<br />WHEREAS, pursuant to Ordinance No. 94-38, 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 $500,000 (the 1994C Notes) were issued for the purpose of acquiring an aerial
<br />pumper fire truck, together with the necessary equipment and appurtenances thereto, for use in
<br />carrying out functions of the Division of Fire of the Department of Public Safety, as a part of
<br />a consolidated issue of $13,920,000 Various Purpose Improvement Notes, Series 1994C, dated
<br />June 22, 1994; and
<br />WHEREAS, the 1994E Notes and the 1994C Notes were retired at maturity with the
<br />proceeds of $750,000 notes issued in anticipation of bonds for the purpose described in Section
<br />2 pursuant to Ordinance No. 95-73, passed on June 6, 1995, as amended by Ordinance No. 95-
<br />89, passed on June 6, 1995, as a part of a consolidated issue of $35,310,000 Various Purpose
<br />Improvement Notes, Series 1995, dated June 22, 1995, which notes were retired at maturity with
<br />the proceeds of $750,000 notes (the Outstanding Notes) issued in anticipation of bonds pursuant
<br />to Ordinance No. 96-80, passed on May 9, 1996, as a part of a consolidated issue of
<br />$42,435,000 Various Purpose Improvement Notes, Series 1996, dated June 19, 1996, which
<br />Outstanding Notes are to mature 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 />$20,000 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 the fire apparatus and 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 ten years;
<br />D03:[00523.DOCS.NOR05228]BOND_ORDINANCE FIRE_TRUCK $770.
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