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, .?. ? CITY OF NORTH OLMSTED RESOLUTION N0. 78-100 BY: MR. LOGAN A RESOLUTION DECLARING THE NECESSITY OF AN ADDITIONAL TAX LEVY PROVIDING FCTNDS FOR THE OPERATION OF 'IT-E RECREATION DEPARTMENT AND FOR THE PA1'MENT OF IN'I'EREST AND PRINCIPAL ON BONDS AND NOTES HERETOFORE OR HEREAFTER ISSUED FOR THE CONSTRUCTION OF RECREATIONAL FACILITIES OF THE CITY OF NORTH OI,NISTED, AND SUBMITTING THE QUESTION OF SUCH ADDITIONAL TAX LEVY TO THE ELECTORS, AS AMENDED WHEREAS, the Council of the City of North Olmsted has determined that it is necessary to raise additional revenue to assist in paying the debt service for the North Olmsted Rccreation Center, and WHEREAS, it has been determined by the Council and Administration that the amount of taxes which may be raised within the Charter limitations will be insufficient to pay the debt service for the North Olmsted Recreation Center; NOW, TI-EREFORE BE IT RESOLVED BY THE COUNCIL OF THE CITY OF NORTH OLMSTED, COUNTY OF CUYAHOGA, AND STATE OF OHIO: SECTION l: It is hereby found and declared that the amount of taxes which may- raised by the City of North Olmsted by levies at the maximum rates within the limitations of the Charter of said City will be insufficient to provide an adequate amount for the necessary requirements of this City, and it is necessary to levy a tax in excess of such limitations for the purpose of providing funds for the operation of the Recreation Department and for the pay- ment of interest and principal on bonds and notes heretofore or hereafter issued for the construction of Recreational facilities of the City of North Olmsted, at the rate of one (1.5) mill for each one dollar ($1.00) of valuation for a period of five (5) years. SECTION 2: The question of an additional one (1.5) mill levy upon the tax list an uplicate for five (5) years beginning with the 1978 tax list and duplicate and with the first distribution of the proceeds of said levy to this City in the calendar year 1979 for the purpose of providing funds for the operation of the Recreation Department and for the payment of interest and principal on bonds and notes heretofore or hereafter issued for the construction of Recreational facilities of the City of North Olmsted, under the provisions of VIII, Section 9 of the Charter of the City be submitted to the electors of the City of North Olmsted at an election to be held on November 7, 1978, as authorized by law and said election shall be held at the regular places of voting in said City as established by the Board of Elections of Cuyahoga County, Ohio, or otherwise, within the times provided by law and shall be conducted, canvassed, and certified in the manner provided by law. A majority affirmative vote shall be required to pass such levy. SECTION 3: The form of ballots to be cast at such election shall be substantially as follows: A majority affirmative vote is necessary for nassage. An additional tax for the benefit of the City of North Olmsted for the purpose of providing funds for the operation of the Recreation Department and for the payment of interest and principal on bonds and notes heretofore or hereafter issued for the con- struction of Recreational facilities of the City of North Olmsted at a rate not to exceed one (1.5) mill, which amounts to fifteen cents (150 for each One Hundred Dollars ($100.00) of valuation, for five (5) years.