10/6/2015 Meeting Minutes - Laserfiche WebLink

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Council Minutes of 10-06-2015 Resolution 2015-79 introduced by Mayor Kennedy was given its second reading. A Resolution authorizing the Mayor to enter into a renewed agreement with Cuyahoga County Juvenile Court in connection with the Community Diversion Program to address juvenile misdemeanor and status offenders in the City of North Olmsted, and declaring an emergency. Ordinance 2015-81 introduced by Mayor Kennedy was given its second reading. An Ordinance providing for the issuance and sale of Bonds in a maximum aggregate principal amount of $845,000 for the purpose of refunding at a lower interest cost the $845,000 of the city's outstanding Street Improvement Bonds, Series2006O, that are stated to mature on December 1 in each of the years from 2017 through 2021 and were issued as a part of a consolidated issue of $7,775,000 Capital Improvement and Refunding Bonds, Series 2006A, dated as of May 3, 2006, to provide funds to pay costs of improving certain designated streets in the city, in cooperation with the Director of Transportation of the State of Ohio and otherwise, by grading, draining, replacing sections of concrete pavement, preparing the surface, resurfacing and constructing and reconstructing sidewalks, where necessary, in each case together with the necessary appurtenances and work incidental thereto; authorizing and directing the call of all of the refunded Bonds for optional redemption; authorizing the execution and delivery of a Bond Registrar Agreement, a Continuing Disclosure Agreement and a Bond Purchase Agreement with respect to the refunding Bonds and an escrow agreement with respect to the refunding of refunded Bonds, and declaring an emergency. Councilman Kearney made a motion to suspend the rule requiring three readings as this was discussed in Finance Committee. The motion was seconded by Councilman Barker and passed unanimously. Councilman Kearney moved for adoption. The motion was seconded by Councilman Barker and passed unanimously. Ordinance 2015-81 adopted 7-0. Ordinance 2015-82 introduced by Mayor Kennedy was given its second reading. An Ordinance providing for the issuance and sale of Bonds in a maximum aggregate principal amount of $340,000 for the purpose of refunding at a lower interest cost the $340,000 of the city's outstanding Street Improvement Bonds, Series2006T, that are stated to mature on December 1 in each of the years from 2017 through 2021 and were issued as a part of a consolidated issue of $7,775,000 Capital Improvement and Refunding Bonds, Series 2006A, dated as of May 3, 2006, to provide funds to pay costs of improving certain designated streets in the city, in cooperation with the Ohio Department of Transportation and otherwise, by preparing the surface, adjusting manholes and catch basins, surfacing and resurfacing and reconstructing curb ramps, where necessary, in each case together with the necessary appurtenances and work incidental thereto; authorizing and directing the call of all of the refunded Bonds for optional redemption; authorizing the execution and delivery of a Bond Registrar Agreement, a Continuing Disclosure Agreement and a Bond Purchase Agreement with respect to the refunding Bonds and an escrow agreement with respect to the refunding of refunded Bonds, and declaring an emergency. Councilman Kearney made a motion to suspend the rule requiring three readings as this was discussed in Finance Committee. The motion was seconded by Councilman Schumann and passed unanimously. Councilman Kearney moved for adoption. The motion was seconded by Councilman Schumann and passed unanimously. Ordinance 2015-82 adopted 7-0. 6