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R~~soLUTIO~~ ~o. 272+ <br />TO At~TEI~7 Sr~TIOI~1 l OF RIisOLC~TIOa~ r~o. 271+ -L'TIINIrdG <br />TO SUBMIT TO TfTE ELSCTORS ~fIIE QUESTION OF ISSUI~JG BOLDS <br />FOR C0~'STRUCTIOTd OF A MUNICIPAL SANITARY SEWERAGE SYSTr~. <br />WI-~', by Resolution ~o. c(l~ passed July 15, 195~i, this council <br />determined to submit to the electors bonds in the amount of ~~,2~2,8~0 for <br />constructing a municipal sanitary se~,rerage collection and disposal system, <br />w~-xickl resolution has been delivered to the County Auditor; and <br />WISER".SAS, the Consultiri~; ungir.eers for the city advised that it is <br />necessary to increase the amount of the proposed bond issue to be submitted <br />to the extent of~150,000 requiring an amendment to Section 1 of Resolution <br />Na. 271+ and its ~nmediate certification to the Counter Auditor; <br />IVOW, ~'HEREFOR~, BL IT RESOLVt~D bar the Council o#' tiAe City of T~iorti~ <br />Olmsted, Cuyahoga Count;r, Ohio: <br />Section 1. That Sec-cion 1 of Resolution Into. ~71~ aforesaid iae and <br />it is hereby amended to read as follows <br />"Section 1. TiLat for tr:xe purpose of paying the propertVr owners' <br />portion and the City's portion of the Bost of constructing a municipal sanitary <br />sewerage collection and disposal system, it is r_ecessary to issue bonds of said <br />City in an amount estimated at <~~,~~52,~50; and that it is necessary to Levy a <br />tax outside of the constitutional ten mill tax limitation to pay the interest <br />on and to retire said bonds; teat the question of issuixxg said bonds ar_d of <br />levying such tax shall be submitted tc the electors of said City at the regular <br />T~ovember election to be held nn ~tovernl:~er 4, 1~5c3; that Council est~s~xates that <br />the approxinxate date of said bonds wi1.l be January 1, 1y5~; that said bonds <br />will be paid in twenty annual installxner~ts maturing in su'ostantially equal amounts <br />during a period of twenty years after the authorization thereof, and will bear <br />interest at a rate not~r estimated at txree and one-half per centum per annum, ,t?a4,-- <br />able semi-annually." <br />Section 2. That the Clem: ~~e and he is hereby directed for~L'~with to <br />certify a cop; of this resolution to rile Auditor of Cuyahoga County. <br />Section ~. This resolution. slxall be in full force and effect from and <br />immediately after its passage and approval by th,,)e 2~layor. <br />/ f <br />~f <br />.~ <br />._, ., <br />Passed: July l5, lg5u ,„ ` <br />resident o <br />Attest : ~ ~--~''~~ -_._. ~ ~__._ - , l ~,-,~~; <br />Clerk of Council pprov~ <br />Filed with <br />the Mayor /.S /~J'7' _ .~..__...._____ <br />Mayo <br />