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CITY OF NCRTH OLMSTED <br />RESOLUTION N0. 2890 <br />By a Mr. MacDona7.d <br />DETERMINING TO PRpCEED WITH THE ELECTION UPON THE <br />PRQPGSED ISSUE OF BONDS FOR FAYING THE PROPERTY <br />OWNERS' PORTIO:d AND THE CITY' S PORTION OF PART OF <br />TIis, COST OF CONSTRUCTIPIG g MUNICIPAL SANITARY SEWLRAGE <br />TREATNiEfi1T PLANT ATJD SANTZ'ARY SEWERS. <br />WHEREAS, Council of the City of North Olmsted on the 25th dray of <br />June, 1959, duly passed Resolution No, 2$66 providing for the subnission <br />' to the electors of 5aid City of the question of issuing bonds in the sum <br />l a of $1,700,000 for the purpose of paying a part of the cost of ¢onstructing <br />a Municipal. Sewerage Treattnent Plant and Sanitary Sewers, and of the lcvy <br />of atax to provide for the payment of the prineipal aad interest thereof <br />at the regular election to be h'ld on November 3rd, 1959; and <br />WI3E8EAS, th¢ County Auditor of Cuyahoga County has eertafiEd to <br />Council that in aceordance with his caleulations the average annual tax <br />levy throughout the life of such bonds which would be reqaired to pay <br />the interest on and to retire the same, assuming that they are a].1 issued- <br />im one series and that the amount of the tax list of this City remai.nmt- <br />the same throughout the life of said bonds as the amount of 8uch li.at <br />for the current yearl is 2.3891 mills for each one dollar of valuation} <br />which amounts to 23,891 cents for each one hundred dollars of ra].uation. <br />NOWt THEREFORE, BE IT RESOLVED by the Council of the City of North <br />Olmsted, Cuyah.oga County, Ohio: <br />Section 1. That Council hereby determines to proceed with th.e <br />issuance of said bonds and that the Clerk of Council be and he is hereby <br />directed to certify to the Board of EZections of Cuya.hoga County,. Ohio, <br />Resolution No. 2866 aforeaaid calling such election, together with the <br />amount of the average tax levy estimated as aforesaid by the County <br />Auditor and the maximum number of years to retire said bondss namely <br />forty years, and requesting sazd Board of Elections to give notice of <br />said election and to prepare ±he necessary ballots and supplies for <br />said election. <br />Secticn 2. This resolution shall taL:e iramediate effect from and <br />after its passage, otherwise, at the earliest period allowed by la.w. <br />? <br />Passed: 91959 <br />Pr-ebident of Counc' <br />dpproeed: 1959 <br />4 <br />; <br />w '.?'° <br />Mayor <br /> <br />P/?'' <br />?- , <br />Clerk of Counei __.____._. __-- <br />? <br />?? <br />? 01- <br />