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CITY OF NORTH OLMSTED <br />B ~_ <br />y <br />RESOLUTION No. 62 - /v? ~f <br />A RESOLUTION CtJl~FIR~9ING THE AWARD AND SALE OP NC?RTH <br />OLMSTED IgINTCIPAL BUS PURCHASE BONDS, AND DECLARING <br />AN EMSRGBNCY, <br />I~HERBAS, the Director of Finance has reported <br />that following due publication of notice of sale of the issue of Bus <br />Purchase Honds suthariaed by Ordinance No. b2-76, bids were received <br />bq him at one o'clock P. M. mn the 10th day of Juiy, 192, €or the <br />purchase of said bonds, and that he has determined that the bid of <br />Fi rst Cleveland Corporation for said bonds, as foll~-ss <br />Principal Amount Interest Rate Premium <br />$52,000.00 Bus Purchase Bonds 3% $42.00 <br />constitutes the highest bid received based upon the lowest interest <br />rate, and that he has accordingly awarded the bonds to said bidder <br />subject to confirmation by Council. <br />AK)it1, THEREFORE, BE IT RESOLVED by the Council of <br />the City of North Olmsted, State of Ohio: <br />Section 1s That the award made by the Director of Finance to <br />First Cleveland Corporation for the purchase of the aforesaid issue <br />0 32,400.40 Bus Par'c se Bonds, with premiums and interest rates <br />as above recited be and the same is hereby confirmed and approved. <br />Section 2s That said bonds, after being duly executed and <br />signed according to law and according to the ordinance autboris~.ag <br />the same but bearing the rate of interest provided therefor in said <br />accepted bid be deiirered by the Director Of FillaIICe, toge>~ber with <br />a true transcript and atate'ent of net indebtedness, certified by <br />the Clerk of Council, and such other information as is provided by <br />law. <br />Section 3s That the Clerk of Council is hereby directed to <br />certify a copy of this resolution to the County Auditor as required <br />by Section 133.36 of the Revised Code of f~hio. <br />Section 4s That this Resolution is hereby declared to be <br />an emergency measure necessary for the preservation of the peace, <br />health and safety of the city and its inhabitants and for the <br />further reason that completion of sale of the bonds hereinabave <br />mentioned is essential to pay off outstanding notes and thereby to <br />preserve the credit of the City; WHERBFORE, this resolution shall <br />take effect and be in force immediately upon its passage, otherwise, <br />at the earliest period allowed by law. <br /> <br />ip r stsaa, res ent <br />Pro-tem of Council <br />ATTES ~ ,~ <br />ou se Hal , lerk o Dune i <br />APP Ds f <br />~' <br />au . rr au, yor <br />I; <br />~~. ~~ /~6 <br />