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<br />RFSOLCITION TdO. ,~~,~ r <br />DETERMTNITdG TO PROCEED WI~l'~i THE ELECTION UPON TKE <br />PROPOSED ISSUE OF BONDS FOR PAYING THE PROPERTY <br />OWNERS' PORTION AND THE CITY'S PORTION OF TKE COST <br />OF CONSTRUCTING A MUNICIPAL SANITARY SEWERAGE COLL~- <br />TION AND DISPOSAL SYSTEM. <br />WHEREAS, Council of ttie City of North. Olmsted on the 15th day of July, <br />1958, duly passed Resolution No. 2724 providing for the submission to the electors <br />of said City of the question of issuing bonds in the sum of x&,382,850 for the <br />purpose of paying the property owners' portion and the City's portion of the cost <br />of constructing a municipal sanitary sewerage collection and disposal system, and <br />of the levy of a tax to provide for t:ie payment of the principal and interest <br />thereof at the regular election to be :held on November 4, 1953; and <br />WFIERF.~AS, the County Auditor of Cuyahoga County has certified to Cauncil <br />t'tiat in accordance with his calculations the average annual tax levy throughout <br />t'rie life of such bonds which would be required to pay the interest on and to retix•e <br />the same, assuming that they are all issued in one series and that the amount of <br />the tax list of this City remains the same throughout the li~'e of said bonds as <br />the amount of such list for the current year, is 13.811 mills for each one dollar <br />of valuation, which amounts to 138.%ill cents for eacY~ one hundred dollars of valua- <br />tion. <br />NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Nortr~ <br />0]msted, Cuyahoga County, Ohio; <br />Section 1. That Council hereby determines to proceed wits} the issuance <br />of said bonds and that the Clerk of Council be and he is hereby dix°ected to certify <br />to the Board of Elections of Cuyahoga County, Ohio, Resolution No. 2`T24 aforesaid <br />calling such election, together with the amount of the average tax levy estimated <br />as aforesaid by the County Auditor and the maximum number of years to retire said <br />bonds, namely twenty years, and requesting said Board of Elections to give notice <br />of said election and to prepare tine necessary ballots and supplies for said elec- <br />tion. <br />Section 2. This resolution shall be in force and take effect irrrmediatel <br />upon its passage by Couneil. <br />Passed: 3 ~ , 1858 ~ ~ _ <br />sident of Coun <br />1858 <br />Approved : .~_,......__ .~._~~ <br />xR~,.,,r Clerk of Council <br />