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Z r CITY OF NORTH OLMSTED RESOLUTION N0. 69 " i 4q By: Y?v, ( C) A RESOLUTION DETEFMNING TO PROCEED WITH TSE ELEGTION UPON THE PROPOSID ISSUE OF BONDS FOR THE P'URPOSE OF ACQIT.LRING HEA,L ESTATE AND DEVELOPING IT FOR RECREATIONAL PURPOSES BY CONSTRUGTING AND SQUIPPING ATHI?FTZC FIELDS0 PLAYGROUNDSP SxEITERS,, RECREATION CE'NTER, AND PICN.CC AREAS? TOGETHER WITH PARK:ING AND OTHER SITE INIE'ROVEMENTS, AND DECLARING AN ENIERGENCY. WHEREAS, the Council of the City of North Olmsted on the 15th day of July, 1969, duly passed Resolution No. 69-145 providing for the submission to the elec- tors of said City of the question of issuing bonds in the sum of $750,000 for the purpose hereinafter stated a.nd of a levy of a tax to provide for the payment of the principal and interest thereof at the general election to be held on November 4, 1969; and WHEREAS, the County Auditor of Cuyahoga County has certified to the Council tha.t in accordance with his calculations the average annual tax levy throughout the life of such bonds which would be required to pay the interest on and to retire the same, assuming that they axe all issued in one series and that the amount of the tax list of this City remains the same throughout the life of said bonds as the amount of such list for the current year, is .7747 mills for each one dollax of valuation which amounts to 7.747 cents for eaeh one hundred dollars of valuation. NOW, THEREFORE? BE IT RESOLVED by the Council of the City of North Olmsted, Cuya.hoga County, Ohio: Section l. That the Caunc3.1 hereby determines to proceed with the issuance of said bonds in the amount of $750,000 for the purpose of acquiring real estate and developing it for recreational purposes by constructing and equipping athletie fields, playgrounds, shelters, recreation center, and picnic areas, together with parking and other site improvements, and tha,t the Clerk of Counc3l be and she is hereby directed to certify to the Board of Elections of Cuyahoga County, Ohio, copies of th3s resolution and Resolution No. 69-145 aforesaid, calling such election, together with the amount of the average tax levy estimated as aforesaid by the County Auditor and the maximum number of yeaxs to retire said bonds, namely fifteen years, and this Council hereby requests said Board of Elections to give notice of said election and to prepare the necessary ballots a.nd supplies for said election. Section 2. That the form of ballot to be cast at the election on the question of this bond issue shall be substantially as follows: - 1 -