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t;1'L'Y OLD NOttTIi OLMSTEU
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<br />By_-_L._. »~~~yr..-
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<br />P~SULU'1'ION N0. 61 -
<br />I~OLU`rION AM~iDING S L:C'i IUN 1 OF 13F~ULU'1'IUN 61-18 .h~iIAC`1 ~D
<br />JANUARY 24, 1961, EN`i'ITL`~D "r:~SULU`L'ION AtvA:rIDING BID I~R
<br />PtJ1iCHASE OF BONDS OF `l'H~: CIi'Y, IN THE SUM OF X40,000.00,
<br />TO Mc~`NALD & COMPANY, AND DEC.T.ARING kNr.I~'I~ZG:~tGY"
<br />WHERx;AS, on January 24, 1961, Council of this City by resolution
<br />61-18 awarded th.e bid to TvTcllanald & Company for the purchase of bonds in the
<br />sum of Forty 1^housand Dollars 040,000.00) of the City, bonds in the amount
<br />of X10,000.00 for the construction of a Service Garage in the City Lark <and
<br />bonds in the sum of X30,000.00, for the construction of an addition and alt<~r~~-
<br />tions to the Police Station, ~.,n.d
<br />v~'ki ~ ~'~~AS, I~1eDonald & Company, ti~rith offices in the Union Commerce
<br />Building, Cleveland, Ohio, a responsible bidder, has presented a bid for
<br />bonds in the sum of ~40,000.UO, with a premium of $86.00 and upon a rate of
<br />interest of 3~ per annum being at a rate other than that provided far in
<br />Ordinances Nos. 3177 and 3178, enacted December 6, 1960, authorizing the issue
<br />of such bonds under the provisions of section 133.33 Revised Code.
<br />NO4J, TFi~;:C~EFOBE, B~: T`I` RESOLVED by the Council of the City of North
<br />Olmsted, State of Ohio:
<br />erection 1: `That Section 1 Hof resolution 61-18 enacted January 24,
<br />1961, entitled, "Resolution 1'~warding Bid for Purchase of Bonds ofthe City, in
<br />the sum of X40,000.00, to I~cDon<~,7.d & Company, and i)eclaring~;xi..Emergency" be
<br />amended to read as follows:
<br />Section 1 `c'hat the bid of McDonald 8c Company with offices in the
<br />Union Commerce Building, Cleveland, Uhio, for the purchase of bonds of the Cit,~
<br />in the sum of X40, 000.00 with a premium of X086.00, and upon a rate of intere.~ ~
<br />of 3;~6 per annum, be and the swine is hereby accepted. Said bid being the :i~..~;hest.
<br />based upon the lowest rate of interest other than that provided in Ordinances
<br />Nos, 3177 and 3178, and that said bonds after being duly executed and si~.ed
<br />according to law and said Ordinances, but bearing the rate of interest provided
<br />for in said accepted bid, be delivered by the Director of F'inax~.ce and Auditor
<br />to the purchaser on its coz~.pliance with the terms of said sale and that the
<br />Director of Finance and ~'w.ditot, sha1:L furnish to said successful bidder, a.
<br />true transcript and strztcment of net indebtedness, certified by him, and. such
<br />other information as is ~~rovided by law.
<br />Section 2: `that this Resolution is hereby declared to ere an emet~;enc,
<br />measure necessary for the preservation of the public health, safety and. welt'axe
<br />and such emergency exists by virtue of the necessity of correcting an error of
<br />omission in Resolution 61-38, being a portion of the legislation required of trze~
<br />~%ity to comply ti~Jith the terms of purchase of sand. bonds 'by the purchaser thereof'
<br />within the period allowed by law.
<br />Section 3: ~~HLn.;~FURL, this resolution shall take immediate effect:
<br />from and after its passage, otherwise, at the earliest period allowed by l:A~,w.
<br />Y9.SSLD: i` ~~d~~~~ ~ I j,~4 f
<br />~ouise Hall, Clerk ofZ%ounci.l
<br />t~'PROY
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<br />,w ~.,~- .~ s r :,
<br />.,,, r -
<br />i'aul J. Gateau, Mayor
<br />'j
<br />Francis J.C(~Nei11~Ac~ing President ofGoi
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