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<br />CITY OF NORTH OLMSTED
<br />ORDINANCE NO. 96-131
<br />BY: Councilmember Lind
<br />AN ORDINANCE PROVIDING FOR THE ISSUANCE AND SALE
<br />OF BONDS IN THE MAXIMUM AGGREGATE PRINCIPAL
<br />AMOUNT OF $970,000 FOR THE PURPOSE OF IMPROVING THE
<br />CITY' S PARK AND RECREATIONAL FACILITIES BY ACQUIRING
<br />AND INSTALLING HEATING, VENTILATING AND AIR
<br />CONDITIONING EQUIPMENT FOR THE COMMUNITY CABIN
<br />AND IMPROVING THE RECREATION CENTER COMPLEX BY
<br />SURFACING AND RESURFACING PARKING AREAS AND
<br />DRIVEWAYS AND PROVIDING CURBS, RELATED DRAINAGE
<br />IMPROVEMENTS, LANDSCAPING AND LIGHTING THEREFOR,
<br />RECONSTRUCTING AND PAVING WITH CONCRETE THE
<br />EXISTING WALKWAY FROM LORAIN ROAD TO THE COMPLEX
<br />AND CONSTRUCTING A BUILDING TO HOUSE MAINTENANCE
<br />EQUIPMENT THEREFOR ON ITS SITE, ALL TOGETHER WITH
<br />THE NECESSARY APPURTENANCES AND WORK INCIDENTAL
<br />THERETO.
<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; 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 />therefor, as a part of a consolidated issue of $13,920,000 Various Purpose Improvement Notes,
<br />Series 1994C, dated June 22, 1994; and
<br />WHEREAS, pursuant to Ordinance No. 94-107, passed on July 7, 1994, notes in
<br />anticipation of bonds in the amount of $400,000 (the 1994D Notes) were issued for the purpose
<br />D03: [00523.DOCS.NOR05228]BOND_ORDINANCE_PARK_REC_$970.
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