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<br />BY: Councilmember Lind
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<br />CITY OF NORTH OLMSTED
<br />ORDINANCE NO. 96-125
<br />AN ORDINANCE PROVIDING FOR THE ISSUANCE AND SALE
<br />OF BONDS IN THE MAXIMUM AGGREGATE PRINCIPAL
<br />AMOUNT OF $16,350,000 FOR THE PURPOSE OF IMPROVING
<br />THE CITY'S SANITARY SEWER SYSTEM AND ITS FUNCTIONS
<br />BY CONSTRUCTING, RECONSTRUCTING, REHABILITATING
<br />AND REPLACING SANITARY SEWERS, SANITARY SEWER
<br />CONNECTIONS AND PUMPING AND RETENTION FACILITIES,
<br />BY IMPROVING AND EQUIPPING THE WASTEWATER
<br />TREATMENT PLANT AND BY CONSTRUCTING AND
<br />RECONSTRUCTING STORM SEWERS AND OTHER STORM
<br />WATER DRAINAGE FACILITIES AND IMPROVEMENTS TO
<br />CONTROL AND LIMIT THE VOLUME OF STORM WATER
<br />ENTERING OR OTHERWISE AFFECTING THE SANITARY
<br />SEWERAGE SYSTEM, TOGETHER IN ALL CASES WITH ANY
<br />NECESSARY APPURTENANCES AND THE PERFORMANCE OF
<br />ANY INCIDENTAL WORK.
<br />WHEREAS, pursuant to Ordinance No. 90-95, passed on September 18, 1990, notes
<br />in anticipation of bonds in the amount of $1,200,000, dated October 30, 1990, were issued for
<br />the purpose of improving the municipal sanitary sewer system by constructing, reconstructing,
<br />rehabilitating and replacing sanitary sewers and sanitary sewer connections and by improving
<br />and equipping the wastewater treatment plant, together with the necessary appurtenances and
<br />work incidental thereto, which notes were retired at maturity with the proceeds of $1,200,000
<br />notes dated May 30, 1991, issued in anticipation of bonds pursuant to Ordinance No. 91-74,
<br />passed on May 21, 1991, which notes were retired at maturity with the proceeds of $1, 200, 000
<br />notes dated February 13, 1992, issued in anticipation of bonds pursuant to Ordinance No. 92-8,
<br />passed on February 3, 1992, which notes were retired at maturity with the proceeds of
<br />$1,200,000 notes (the 1992A Notes) issued in anticipation of bonds pursuant to Ordinance No.
<br />92-92 passed on August 18, 1992, as a part of a consolidated issue of $3,990,000 Various
<br />Purpose Notes, Third Series, dated August 27, 1992; and
<br />WHEREAS, pursuant to Ordinance No. 91-85, passed on June 18, 1991, notes in
<br />anticipation of bonds in the amount of $1,775,000 were issued for the purpose of improving the
<br />municipal sanitary sewer system by constructing, reconstructing, rehabilitating and replacing
<br />sanitary sewers and sanitary sewer connections and by improving and equipping the wastewater
<br />treatment plant, together with the necessary appurtenances and work incidental thereto, as a part
<br />of a consolidated issue of $4,200,000 Various Purpose Notes, Second Series, dated July 31,
<br />1991, which notes were retired at maturity with the proceeds of $1, 775, 000 notes (the 1992B
<br />Notes) issued in anticipation of bonds pursuant to Ordinance No. 92-32, passed on April 7,
<br />1992, as amended by Ordinance No. 92-40, passed on April 21, 1992, as a part of a
<br />consolidated issue of $4,200,000 Various Purpose Notes, First Series, dated Apri123, 1992; and
<br />WHEREAS, pursuant to Ordinance No. 92-30, passed on April 21, 1992, as
<br />amended by Ordinance No. 92-49 passed on May 5, 1992, notes in anticipation of bonds in the
<br />amount of $2,000,000 (the 1992C Notes) were issued for the purpose of improving the
<br />municipal sanitary sewer system by constructing, reconstructing, rehabilitating and replacing
<br />sanitary sewers and sanitary sewer connections and by improving and equipping the wastewater
<br />treatment plant, together with the necessary appurtenances and work incidental thereto, as a part
<br />D03:[00523.DOCS.NOR05228]BOND ORDINANCE SAN SWR $16 350.
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