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CITY OF NORTH OLMSTED <br />ORDINANCE N0. 92-42 <br />By ; COUNCILMAN LIND <br />AN ORDINANCE AMENDINC SF.CTION 4 OF ORDINANCE N0. <br />92-34 PROVIDING FOR THE ISSUANCE AND SALE OF <br />$2,300,000 NOTES, IN ANTICIPATION OF THE ISSUANCE <br />OF BONDS, FOR THE PURPOSE OF IMPROVING CERTAIN <br />DESIGNATED STREETS IN THE CITY'S STREET SYSTEM BY <br />GRADING, DRAINING, CURBING, RECONSTRUCTING THE <br />PAVEMENT BASE, WIDENING, PREPARING THE SURFACE AND <br />PAVING, BY CONSTRUCTING, RECONSTRUCTING AND <br />REHABILITATING STORM SEWERS, SANITARY SEWERS AND <br />WATER MAINS, BY RECONSTRUCTING CURBS, SIDEWALKS AND <br />DRIVEWAY APRONS, BY ACQUIRING AND INSTALLING <br />SIGNALS, SIGNS AND OTHRR EQUIPMENT AND DEVICES TO <br />DIRECT AND CONTROL TRAFFIC AND BY INSTALLING <br />UNDERGROUND WIRES AND CABLES FOR STREET LIGHTING, <br />ALL WHERE NECESSARY, TOGETHER WITH THF. NECESSARY <br />APPURTENANCES AND WORK INCIDENTAL THERETO, AND <br />DECLARING AN EMERGENCY. <br />BE IT ORDAINED by the Council of the City of North Olmsted, Cuyahoga <br />County, Ohio, that: <br />Section 1. Section 4 of Ordinance No. 92-34 passed on April 7, 1992 <br />shall be amended to provide that the Notes stiall mature on December 18, 1992 <br />instead of December 20, 1992, and shall read as follows: <br />"Section 4. The debt charges on the Notes shall. be <br />payable in lawful money of the United States of America, or <br />in Federal Reserve funds of the United States of America if <br />so requested by the original purchaser, and shall be payable, <br />without deduction for services of the City's paying agent, at <br />the main office of National City Bank, Cleveland, Ohio, or at <br />the principal office of a bank or trust company requested by <br />the original purchaser of the Notes, provided that such <br />request shall be approved by the Director of Finance after <br />determining that the payment at that bank or trust company <br />will not endanger the funds or securities of the City and <br />that proper procedures and safeguards are ava3.lable for that <br />purpose (the Paying Agent). The Notes shall be dated the <br />date of issuance and shall mature December 18, 1992. If <br />agreed to by the original purchaser, tYie Notes shall be <br />prepayable without penalty or premium at the option of the <br />City at any time prior to maturity as provided in this <br />ordinance. Prepayment prior to maturity sYiall be made by <br />deposit with the Paying Agent of the principal amount of the