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10.-
<br />CITY OF NORTH OLMSTED
<br />ORDINANCE NO. 93-92
<br />BY: COUNCILMAN DAVID LIND
<br />. ;?
<br />AN ORDINANCE PROVIDING FOR THE ISSUANCE AND
<br />SALE OF $150,000 NOTES, IN ANTICIPATION OF THE
<br />ISSUANCE OF BONDS, FOR THE PURPOSE OF IMPROVING
<br />CERTAIN DESIGNATED STREETS IN THE CITY'S STREET
<br />SYSTEM BY GRADING, DRAINING, CURBING,
<br />RECONSTRUCTING THE PAVEMENT BASE, WIDENING,
<br />PREPARING THE SURFACE AND PAVING WITH CONCRETE
<br />OR ASPHALT, BY RECONSTRUCTING AND
<br />REHABILITATING WATER MAINS, WATER SERVICE
<br />CONNECTIONS, SANITARY SEWERS AND SANITARY
<br />SEWER SERVICE CONNECTIONS, BY CONSTRUCTING AND
<br />RECONSTRUCTING SIDEWALKS, DRIVEWAY APRONS,
<br />STORM SEWERS AND CATCH BASINS, AND BY
<br />INSTALLING UNDERGROUND AND ABOVE-GROUND
<br />WIRES AND CABLES FOR STREET LIGHTING, ALL WHERE
<br />NECESSARY, TOGETHER WITH THE NECESSARY
<br />APPURTENANCE5 AND WORK INCIDENTAL THERETO.
<br />WHEREAS, the Director of Finance as fiscal officer of this City has certified to
<br />this Council that the estimated life or period of usefulness of the equipment described in
<br />Section 1 is at least five years, the estimated maximum maturity of the Bonds described in
<br />Section 1 is twenty years, and the maximum maturity of the Notes described in Section 3, to
<br />be issued in anticipation of the Bonds, is twenty years;
<br />NOW, THEREFORE, BE IT ORDAINED by the Council of the City of North
<br />Olmsted, Cuyahoga Counry, Ohio, that:
<br />Section 1. It is necessary to issue bonds of this City in the aggregate principal
<br />amount of $150,000 (the Bonds) for the purpose of improving the City's street system by:
<br />(i) grading, draining, curbing, reconstructing the pavement base, preparing the
<br />surface and paving with concrete, reconstructing water service connections, storm sewers,
<br />sidewalks and driveway aprons, reconstructing water mains where necessary, and constructing
<br />and reconstructing catch basins where necessary, in North Oxford Oval, South Oxford Oval,
<br />East Oxford Oval and West Oxford Oval;
<br />(ii) grading, draining, curbing, reconstructing the pavement base, preparing the
<br />surface and paving with concrete, reconstructing driveway aprons and catch basins, installing
<br />above-ground wires and cables for street lighting, reconstructing water mains, water service
<br />connections, sanitary sewers, sanitary sewer service connections, storm sewers and sidewalks
<br />where necessary, and constructing catch basins where necessary in Woodview Drive;
<br />(iii) grading, draining, curbing, reconstructing the pavement base, preparing the
<br />surface and paving with concrete, constructing storm sewers and catch basins, reconstructing
<br />sidewalks and driveway aprons, installing above-ground wires and cables for street lighting,
<br />and reconstructing water mains and water service connections where necessary in Frank Street;
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