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?.. CITX OF NORTH OLMSTED Resolution No. 69- 144 BY : A RESOLUTION DETERMINING TO SUBMIT TO THE ELECTORS OF THE CITY OF NORTH OLMSTED THE QUESTION OF ISSUING BONDS FOR THE PURPOSE OF CONSTRUCTING AND EQUIPPING TWO OUTDOOR SWIMMING POOL-ICE RINK FACILITIES AND AN INDOOR SWIMMING POOL WITH RELATED FACILITIES, AND DECLARING AN EMERGENCY. BE IT RESOLVED by the Council of the City of North Olmsted, Cuyahoga County, Ohio: Section 1. That for the purpose of constructing and equipping two outdoor swimming pool-ice rink facilities and an indoor swimming pool with related facilities, it is necessary to issue bonds of said City in the amount of. $1,871,000.00, and that it is necessary to levy a tax outside of the constitutional ten mill limitation to pay the interest on and to retire said bonds; that the question of issuing said bonds and of levying such tax shall be submitted to the electors of said City at the general election to be held on November 4, 1969; that Council estimates that the approximate date of said bonds will be January l, 1970; that said bonds will be paid in twenty annual installments maturing in substantially equal amounts during a period of twenty years after the authorization thereof, and will bear interest at a rate now estimated at six per centum per annum, payable semi-annually. Section 2. That the Clerk of Council be and she is hereby directed to certify a copy of this resolution to the Auditor of Cuyahoga County for his calculation of the average annual tax levy required throughout the life of_ the bonds to pay the interest on and to retire said bonds, assuming that they are 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. Section 3. This resolution is hereby determined to be an emergency measure necessary for the immediate preservation of the public peace, health and safety, and for the further reason that park and recreational facilities are needed to promote the health and general welfare of the inhabitants of this City and this resolution must go into immediate effect in order to commence the election proceedings to place this bond issue on the November 4, 1969 ballot; WHEREFORE, this resolution shall be in force and take effect immediately upon its adoption by Council and approval by the Mayor. PASSED: %1I L. I s- ATT T" " C rk of Council APPROVED: , Francis J. 0'Neil resident of Council u Ralph . Christman, Ma.yor ;