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RESOLUTION N0. <br />BY : <br />A RESOLUTION AWARDING AN ISSUE OF SERVICE <br />DEPARTMENT EQUIPMENT BONDS, AND DECLARING <br />AN EMERGENCY. <br />WHEREAS, after notice duly published as required by law, bids <br />were received on Ma,y 16, 1978 for the purcha.se of$330,000 Service Department <br />Equipment Bonds which were authorized by Ordinance No. 78-41 passed <br />by this Council on April 18, 1978; and <br />WHEREAS, it has been determined that the highest bid for said <br />issue based upon the lowest interest rate as defined in the notice of sale <br />therefor is that of Sweney Cartwright & Company <br />9 <br />, which bid an interest rate of 5 1/8 % and a <br />premium of $ 382.80 <br />NOW, THEREFORE, BE IT RESOLVED by the Council of the City of North <br />Olmsted, Cuyahoga County, Ohio: <br />Section l. That the aforesaid issue of $330,000 Service Department <br />Equipment Bonds of the City authorized by Ordinance No. 78-41 above <br />mentioned, be and they hereby are awarded and sold to Sweney Cartwright <br />& Company in accordance with the notice of sale and their <br />bid for said bonds. <br />Section 2. That the Clerk of Council is hereby authorized and directed <br />to cause said bonds to be printed forthwith and thereupon to have the same <br />executed and delivered, together with a true transcript of the proceedings <br />authorizing said bonds, to said successful bidder upon payment of the amount <br />bid, plus accrued interest to the date of delivery. <br />Section 3. The Clerk of Council is hereby authorized and directed <br />to certify a copy of this resolution to the County Auditor of Cuyahoga County <br />according to law.