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<br />Established 1895 • Incorporated 1953
<br />25 BROAD STREET, NEW YORK 4, v. Y.
<br />October 18, 1960
<br />Hanorable btayflr and Memlers of the City Ctruncil
<br />City of North Qlmsted
<br />' City Hall
<br />North Ulmsted, Ohio
<br />Gentlemen:
<br />TELEPHONE I)IGBY -830G
<br />U lH, 61St ) LAII
<br />, It ia our under*-tauci3ag tthat you are in ths process of coastructing a
<br />sewage treatment glaat, aend qou deaira xc znaks £urther subst,antial extsnsims
<br />and imprwon3ents to tbe sani#azryr sswerage sysxem, aud to finauce a pnrtion
<br />of said pragram, will require the is-suance of Sewer Revenu,e Bonde. Accc?rdingly,
<br />we hereby agree to purchase fraxn you, and you agree ta seU to us, apprmacimateXy
<br />$1,525,000 City Qf North 4lmstcd, Qhio, Sewer Revenue Bcmds, subject to the
<br />following terxns aand conditiona:
<br />1. The amaunt of the btmde to be issued shall be estsblishad by
<br />mutual agreement. The bmds shan be dated November 1,
<br />1964, ghaU be FaYab"le $s to priri:cipaal on I3ecember 1, an par
<br />attarched Sch,edule A, and as tv interest an June 1, 1961 and
<br />each lYecember 1 aad June 1thereafter, at such bask arr banks
<br />pvssessing the necsasary txuat gowers as we shall deaignatte
<br />to aet as Trctatee and./or Faying Agent fer this band issues, and
<br />a4ny charges fQr tkeir aervices ahall be borne by the City of
<br />North Olmsted,
<br />2, The bonds are to be iasued under Authority of Section I2,
<br />A.rticle XVII,I, of the Goastitvticrn of the State af Qhio, and
<br />the Authorizin; Bmd t?rcliaaace, to be pregared hy Messrs.
<br />gquire, $aaders & Dempsey, C1eveLand, Qhio, shall be
<br />8d.1i8Ucttfl1"y tfl L18 Af t0 fDTZri 121t1 ConteXt. Said bonds shall be
<br />accompatried at del.ivary with the unquaLified apprcrviag lega1
<br />opinicn of sAid Bond Attaraeye, in cuatQnu.ry marlast form,
<br />evidencing the legality Qf said boncU and the exempticm of
<br />incvme thereon from F°edera.]. Income Taxas. All ksgal espeases
<br />incurred in the iasuance cxf these bonds shaLl be gaid for by the
<br />City of Ntyrth C7?r'ieted' Ohio.
<br />3. The resexve requirerndn#s of said bcmds, aa2d the details of
<br />the proceediAgs undex which they are tfl be autharized and
<br />iesued, aball he determined bY rnutua1 a.greement. 3a:id banda
<br />ehall be issued in $19 440 dea-ryrMiaa.ticm, (coupoa form and
<br />registerable) with int$rest payab]:e semi-annually. They ahall
<br />TAX-FREE PUBLIC BONDS .... EXCLUSIVELY SINCE =898
<br />CHICAGO • NEW YORK • ATLANTA • BOSTON • CINCINNATI • DETROIT • LOS ANGEL6S • OMAHA • SEATTLE • ST.PAUL
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