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CITY tF NCRTH alMSTED <br />xEscLUrzcN No. 2863 <br />Tntrodimaed byt Mr, Hiasoa <br />RYSMU'TItK D]RECTING THE AUDIT{R T O KriOf IgTB wl:TH <br />TflE NATItM. CITY. BANK FOt THE PIIRPt)3E t3F OB'PAIMG <br />EC't'ffid3ItKS OF T1KE_ FtR TRE PAXKW OF N(M 1MGM <br />PAVING Nixl'S DAM tGTt?M 31.9 1957s MKES =M. <br />DATSU DBCMM. 34s 19579 FIM sID1W/LLK. D.ATED tCTt?8UR <br />31, 1957, AND THE sANITART ssM NOrs. nAM J= 25, <br />1958, OF THE cITY EF NWH MMM DJE SAm BM,AND <br />DECIARING AN EMGUCY. <br />WHEE?',?5O this Gouncils by Qrdinanae enacted as hereinatt.er set furth, <br />authorised the issuance of Notes in the araannts and dates hereia set fort,h, to- <br />wit= <br />Itasn Dated Amovat In nai? <br />Decker "f'ad Pav3.ng Octo r 1, 1957 ?33;3U:v0 ? 1960 <br />Decker Road Sever December 30, 1957 9,4o4.oo 2j% ,April 30, 1960 <br />Fitch Road Sidewa].k October 31s 1957 30060,00 2?% Apri1 30s 1960 <br />sani.tAry Sewer System d'une 25, 1958 205o7O4.0O 2% dune 25, 1960 <br />Ord.2669?Apri1 1, 1958 <br />WHOEA3, said Notes have been isswed and delivered to the Nationa]. Cit3r <br />Bank cf Clevelands Ch3.os and are about to Aature, and <br />WHWA5s it wi11 not ba possible to pay said nutes at maturity beoause <br />it is not pre$entlg poasible to sell bends in suffici.ent tiate to pravide mcnies <br />to pay for sa3d nates., auld it is necesaary for the City to reqnsst an eztmsian <br />of tims for the paymsrit thereot'. <br />NOW., THEREFtREp BE IT RESCtvVED by the Couneil of the City of North <br />47mstedj, 3tate of thi.ot <br />Section ls That the Auditor of the City of ATc?rth Q7Asteds bes and he <br />is$ hereby directed t0 negot3.ate with the Natiomal. City Buk of Clevelmds, (h3.8s <br />for the pvrpossa vP obtainin an sgreeneat to Qarry i.mta. effect the eartension of <br />tize for the payumt nf the abave dde8cribed Notea to certaui datess the lcmgest <br />of Which shall not be due lat.er than June 25i 1460. <br />Sect3cn 2: Wherefore$ thias resolutiarl is hereby declared to be an <br />emsrgencty masure nscessary for the imsciiate preservation of the general welfare <br />of the City of North Olmted and 3n.ch emergency exist$ bgr virtue of the neaesa3.ty <br />of m,alsi.ng certaia provig3cns to preserve the credit of ths City of Narth 03mted <br />in order not to interfere with the possible sale ot boads of said C3.ty whi.ch W <br />hereaPter be so1d in payaeat of said Notss or whi.ah my be reqa3red to be herein- <br />after issned for t,he fi.wncing cf the asnitary aexer aad disposral plant prc+grann <br />now to be preseated to the e].eetoratea of th3.a City in the fcrrs of a Bmnd Iasue <br />$t the next general elsetion 3a N€>vember of 1959• <br />Sectim 3: Nherefore,, thia Besolutioa sha11 talm immsdiate effect fram <br />and after its passages othexw3.ses at the earliest periad allotired by lm. <br />PASSEDt?Jm 16. 1959 <br />ATTEST: J` .. ?. I \ <br />g. is x Clark o RalpbA4 Haseltoa, Pre nt of ome31 <br />Council <br />APP <br />? 12 -4 / A <br />, Gareaas mr <br />