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AMENDING ORDINANCES NO. ORD-0095-2007 AND ORD-0098-2007 TO REALLOCATE THE USE OF CERTAIN UNSPENT PROCEEDS OF THE CITY'S VARIOUS PURPOSE BONDS, SERIES 2007; AND TO DECLARE AN EMERGENCY
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WHEREAS, the City of Gahanna, Ohio (the "City") previously issued its $11,350,000 Various Purpose Bonds, Series 2007, dated July 31, 2007 (the "Bonds"), pursuant to the authority granted by five ordinances (collectively, the "Bond Ordinances") passed by City Council (the "Council") on May 21, 2007; and
WHEREAS, Bond Ordinance No. ORD-0095-2007 (the "Park Ordinance") authorized the issuance of up to $3,500,000 in bonds for the purpose of acquiring, renovating and improving municipal parks, including Hannah Park and Central Corridor Park, acquiring, renovating and improving playgrounds, recreational trails, and recreation facilities including the acquisition of real estate and interests in real estate, the construction, reconstruction, relocation, remodeling, enlargement and improvement of buildings and other structures, the acquisition of furnishings, apparatus, communications equipment and other equipment, landscaping and making site improvements, and all appurtenances relating thereto (collectively, the "Park Improvements"); and
WHEREAS, $33,660 (the "Unspent Proceeds") of the proceeds of the Bonds remain unspent and are no longer necessary for the purposes of the Park Improvements; and
WHEREAS, Bond Ordinance No. ORD-0098-2007 (the "Broadband Ordinance") authorized the issuance of up to $2,050,000 in bonds for the purpose of designing, engineering, planning and construction of fiber optic, cable and broadband service infrastructure improvements, including acquisition of land and interests in land necessary in connection therewith, to facilitate centralized data collection and meter reading, and all appurtenances relating thereto (collectively, the "Broadband Improvements"); and
WHEREAS, ORD-0075-2009 passed April 6, 2009 amended O...
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