Laserfiche WebLink
ZXRESOLtTrIdl? N0. <br />•` ? ql?& 14-1 <br />1111p? RESO PROVIDING FOR AN AWA? OF AN ISSUE OF <br />SEWER 71Mff'liOV]st?A?'.1?!' AS3EMF'.1?TI' BOlfDB OF TSE C ITY OF <br />rpRTH OIM9TED, OHIO <br />r3 ; WfEE118p on Jnnuary 7, 1965, bids `+ere received for the pi,rchase of $1, 277,,115 <br />Setirer Iaprovement Assessment Borlda authorized by Ordinance No. 64-329 paased by <br />COnncil on Deeember 15, 1964, fallow•ing due ndvertisement of sai bo s for publie <br />sale in accordance with lnw, the highest bid for said bonds based upon the loi+est <br />rate of interest being that oP McDonald & Cou"ny <br />2'or bonds bearing an interest rate of three and one-half 3 per centua <br />per annum with s premium of $ 12L093,00 ; and <br />WHERFAS, since the de.te of pessage of the aforeeaid ordinance caah payments.in the <br />aggregate amouut of $59, 257 w'sre received for credit againat the assassmenta levied for <br />said iarprovement, thereby reducing the amouat of financing raquired for said iWrovemeat <br />and further zequiring that the amouat of eaid bond issue be reduced to $1,217,858 <br />with ap*opriate revision of tbe baturitiea of said bonds, e?.Ll of Which has been <br />accoiapliahed by the passage ae this date of Ordioiwce Iio. 65-5 ?amDdiO8 <br />Sections 1 and 2 of Ordinance Iio. 64-329 ;and <br />WHERFAS, said bidder has aateed to ac6+ept delivery d2 said reduced boud iseue ? <br />on conditiea that the premium offered for the purchasa of $l, 277, L15 tif ssid bands be <br />rtduced prorata, and Council hns deterarined to accept the bid oY McDonald & Caapany <br />as so reviaed; <br />NOW, TFiERSr'ORE, BE IT FtFSOLVED by the Council of the City of North Olmated, Chio; <br /> <br />Section l. That the at'oresaid Sewer Improvement Assessment Bonds oP thia City <br />in the principal amount of $1,217,858, bearing thc terms nnd maturiug ns prvvided in <br />Ordinanec Pio. 64-329 , aa amended, are hereby axe.rded and sold to <br />McDonald & Coa?pany ? baaring in6erest at the rate Ot threa mnd ote-half <br />per centwa per annum, with a premium af"ter prorata reduction of $ 11. 531. ?6 • <br />Section 2. 'Ihat the Director of Finance shall be and he is hereby suthorised esyd <br />directed to cause said bonds when printed to be executed and delivered together with a <br />true transcript of the proceedings suthorizing said bonds to Mcpotlala & co <br />upon payment of the par value thereof, plwa e atoresaid <br />premiwn in the amount of 11,531,88 and accrued interest to the date of <br />delivery. <br />Section 3. That the Clerk of Council is hereby authorized and directed to-deliver <br />a copy oP this resolution to the Auditor of Cuyahoga County. <br />5ection 4. This resolution is hereby declared to be an emergency cneasure neceasary <br />for the preservation of the peace, health and saPety of the City and its inhabitants <br />and for the further reason that completion of sale of the aforesaid bonds is necessary <br />}. .?.?, <br />__ ? _ . ?..'l <br />Approved ? : ?, • ? t ; , 1967 Attest; I ??j ? <br />C1* k of Council <br />.____l `??_,---_.,??- ' _?? __ .• -? ?, ? ,? ?tiu: ? . ?'c??7C? i a -g-l?S' <br />; Ma? o: <br />to pay off outstanding notes and thereby to preserv+e the City's credit; whereFore, <br />it sha11 take effect and be in force im?aediately upon ita passaze and approval. <br />l l , <br />Passed 19o <br />? ; :, t ^, "1' ?1. ar-,--.? . . <br />Preside of Counc