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CITY OF NORTH OLMSTED <br />1 RESOLUTION N0. 64 - ~_ <br />;, - ~ ; <br />A RESOLUTION CONFIRMING THE AWARD AND SALE OF NORTH <br />OLMSTED MUNICIPAL BUS PURCHASE BONDS, AND DECLARING <br />AN EMERGENCY. <br />WHEREAS, The Director of Finance has reported that following <br />due publication of notice of sale of the issue of Bus Purchase Bonds <br />authorized by Ordinance No. 63 - 250, bids were received by him at <br />seven-thirty P. M, on the 7th day of January, 1864, for the purchase of <br />said bonds, and that he has determined that the bid of Hayden <br />Millar anr~ r~ for said bonds, es follows: <br />Principal At ~ount Interest Rate Premium <br />$101,300.00 Bus Purchase Bonds 3-1/8% $46.00 <br />constitutes the highest bid received based upon the lowest interest <br />rate, and that he has accordingly awarded the bonds to said bidder subject <br />to confirmation by Council. <br />NOW, THEREFORE, BE IT RESOLV ED by the Council of the City of <br />North Olmsted, State of Ohio: <br />Section 1. That the award made by the Director of Finance to <br />for the purchase of the aforesaid issue <br />of $T0 ,300.OOiBus Purchase onds, with premiums and interest rates as <br />above recited be and the same is hereby confirmed and approved. <br />Section 2. That said bonds, after being duly executed and <br />signed according to law and according to the ordinance authorizing the <br />same but bearing the rate of interest provided therefor in said accepted <br />bid be delivered by the Director of Finance, together with a true <br />transcript and statement of net indebtedness, certified by the Clerk of <br />Council, and such other information as is provided by law. <br />Section 3: That the Clerk of Council is hereby directed to <br />certify a copy of this resolution to the County Auditor as required by <br />Section 133.36 of the Revised Code of Ohio. <br />Section 4. That this Resolution is hereby declared to be <br />and emergency measure necessary for the preservation of the peace, <br />health and safety of the City and its inhabitants and for the further <br />reason that completion of sale of the bonds hereinabove mentioned is <br />essent i a 1 to ppeser"ve:,the ~cred.i.t of -tbe~.Ci.tyfi vWidEREFORE, th i s resolution <br />shall take effect and be in force immediately upon its passage, otherwise, <br />at the earliest period allowed by law. <br />PASSED; ~= '' `.~;~ <br />ATTEST: <br />. ~~r - ~. <br />Louise Hall, Clerk of Council Francis J. O'Neill P esident of Council <br />APPROVED: <br />• <br />Ralph E. Christman, Mayor <br />,; s' <br />'~ <br />~~ ~`l <br />/`,'~-, <br />t. <br />''~` %~ <br />,.~ <br />