title
TO AUTHORIZE THE ISSUANCE OF NOT TO EXCEED $5,300,000 OF GENERAL OBLIGATION LIMITED TAX BONDS FOR THE PURPOSE OF CONSTRUCTING, RESURFACING AND IMPROVING CITY STREETS, INCLUDING WHEELCHAIR RAMPS, CURBS AND GUTTERS, SIDEWALKS, STREET LIGHTS, TRAFFIC SIGNALS, AND UTILITY INSTALLATIONS, ACQUIRING REAL ESTATE AND INTERESTS IN REAL ESTATE AND RELATED EQUIPMENT, AND LANDSCAPING AND MAKING SITE IMPROVEMENTS; AUTHORIZING AND APPROVING A NOTICE OF SALE FOR THE BONDS; AUTHORIZING THE PREPARATION AND DELIVERY OF AN OFFICIAL STATEMENT RELATING TO THE BONDS; AND DECLARING AN EMERGENCY.
body
WHEREAS, the City of Gahanna, Ohio (the "City") has determined to undertake the improvements described in the title of this Ordinance (collectively, the "Project"); and; and
WHEREAS, the Director of Finance (the "Finance Director") of the City has certified to this City Council (the "Council") that the estimated life of the improvements comprising the Project, which are to be financed with the proceeds of the bonds herein described exceeds five (5) years and the maximum maturity of said bonds is twenty (20) years; and
WHEREAS, it is now deemed necessary to issue and sell not to exceed $5,300,000 of such bonds under authority of the general laws of the State of Ohio, including Chapter 133, Ohio Revised Code, and in particular Section 133.23 thereof, for the purpose stated in the title of this Ordinance;
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF GAHANNA, COUNTY OF FRANKLIN, STATE OF OHIO, THAT:
Section 1. It is hereby declared necessary to issue bonds of the City, in one or more series, in the aggregate principal sum of not to exceed $5,300,000, or such lesser amount as shall be determined by the Finance Director and certified to this Council, which bonds shall be designated "City of Gahanna, Ohio Various Purpose Bonds, Series 2015," or as otherwise designated by the Finance Director (the "Bonds"), for the purpose described in the title of this Ordinan...
Click here for full text