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RESOLUTION N0. ~ i- BY: Mr. ,~~~~ ~ RES~,UTTON DETERMINING TO PROCEED WITH ~ THE ELECTION OF THE QUESTION OF THE ISSUANCE (JF BONDS IN THE SUM OF 140,000.QO FOR THE ERECTION 4F TWO FIRE HOUSES. WHEREAS, this Council on the 5th day of July, 1955, duly passed a resolution providing for the submission to the electors of the City of North Olmsted, Ohio, at the next November election of the question of the issuance of bonds in the sum of One Hundred Forty Thousand Dollars ~11~0,000.00) for the purpose of constructing two fireproof buildings to be used for fire houses, as well as equip- ment and furnishings for the same, and of the levy of a tax to provide for the payment thereof, and WHEREAS, the County Auditor of Cuyahoga County has certified. to this Council that in accordance with his calculation the average annual levy throughout the life of such bonds which wil~. be required to pay the interest on and retire such bonds, assuming that they are all issued in one series, and that the amount of the tax list of said city remains the same throughout the life of said bonds as the amount of the tax list for the current year, is .4$960 mills. NOW THEREFORE BE IT RESOLVED BY THE COUNCIL OF THE CITY OF NORTH 07~I5~ED, STATE ~IF OHIO, that this Council proceed with the issuance of said bonds and that the Clerk be and he is hereby directed to certify to the Board of Elections in Cuyahoga County, the resolution of this Council calling such election hereinbefore referred to, to- gether with the amount of the average tax levy as estimated by said County Auditor and the maximum number of years to retire said bonds, namely twenty years, and to give notice of said election in acemriance with Section 133.11 of the Revised Statutes of the State of Ohio. PASSED« July / a , 1955• ATTEST: iZ~GGC,t,~ - - i/~ts .l . kris man -e- unci E. aumgar ner, resident ' of Council. APPROVED: .~. ,~. C ar es B. w:i.s, yer /~ 9' ~~~