Laserfiche WebLink
CITY OF NORTH OLMSTED <br />RESOLUTION No. 63 ~' <br />~/; <br />A RESOLUTION CONFIRMING THB AWARD AND SALE OF ffi~}D.S::~ <br />OF THE CITY OF NORTH OLMSTED, OHIO, IN THE AMOUNT OF <br />$26,620.00 ISSUED IN ANTICiPATIt~T OF THE COLLECTION <br />OF SPBCIAL ASSESSMBNTS HERETOFORE LEVIED, FOR THE <br />PURPOSE OF PAYING THREE NOTES ISSUBD TO PAY FOR THE <br />COST AND BXPENSE OF CONSTRUCTING CERTAIN IMPRO~IBMENTS <br />IN THE CITY OF NORTH OLMSTED, AND DECLARING AN EMERGENCY. <br />WHEREAS, the Director of Finance has reported <br />that following due publication of notice of sale of the bonds <br />of the City of North Olmsted authorized by Ordinance No. b3-157, <br />bids were received by him at 1 P. M. o'cloCkE.D.S.U1~ the 3rd day <br />of September, 1963, for the purchase of said bonds and that he <br />has determined that the bid of Hayden Mi 1 ler ~ Co. <br />for said bonds as follows: <br />Principal Amount <br />$26 , 620.00 <br />Interest Rate Premium <br />3 5/8% $32.00 <br />constitutes the highest bid received based upon the lowest interest <br />rate, and that he has accordingly awarded the bonds to said bidder <br />subject to confirmation by Council. <br />NOW, THEREFORE, BE IT RESOLVED by the Council of <br />the City of North Olmsted, State of Ohios <br />Section 1: That the award made by the Director of Finance <br />to Hayden Mi 1 ler ~. Co. for the purchase of the <br />aforesaid issue of $26,620.00 of bonds of the City of North <br />Olmsted, with premium and interest rates as above recited be <br />and the same is hereby confirmed and approved. <br />Section 2: That said bonds, after being duly executed and <br />signed according to law and according to the ordinance authorizing <br />the same but bearing the rate of interest provided therefor in said <br />accepted bid be delivered by the Director of Finance, together with <br />a true transcript and statement of net indebtedness, certified by <br />the Clerk of Council, and such other information as is provided by <br />law. <br />Section 3: That the Clerk of Council is hereby directed to <br />certify a copy of this resolution to the County Auditor as required <br />by Section 133.36 of the Revised Code of Ohio. <br />Section 4: That this Resolution is hereby declared to be <br />an emergency measure necessary for the preservation of the peace, <br />health and saf ety of the city and its inhabitants and for the <br />further reason that completion of sale of the bonds hereinabove <br />mentioned is essential to pay off outstanding notes and thereby to <br />preserve the credit of the City; WHEREFORE, this Resolution shall <br />take effect and be in force immediately upon its passage, otherwise, <br />at the earliest period allowed by law. <br />PASSED: _ .-~-~., ~ ~,. ' _'.''1,,L -,~,n~, <br />--..--~ ' <br />ATTE <br />Lo sse Hall, Clerk-of Council <br />APP ED: ,!~ <br />~ ~, 1 <br />Paul J. ` G rtau, Mayor <br />Bruce Mac'onald - resident o <br />Council <br />~, ~ ~~~/u <br />r. ~ <br />