ORDINANCE NO. 16-83
AN ORDINANCE AWARDING AN ISSUE OF $40,000 WILDWOOD
DRIVE IMPROVEMENT BONDS, AND DECLARING AN EMERGENCY.
WHEREAS, on May 18, 1983, bids were received for the purchase of $40,000
Wildwood Drive Improvement Bonds (the Bonds), authorized by Ordinance No.
158-3, passed by Council on April 20, 1983 following advertisement of the Bonds for public sale in accordance with law; and
WHEREAS, it has been determined that the bid of Maqnus &Company
of Cincinnati, Ohio for the Bonds to bear interest at the rate of 8. 5 per centum 8( -1/2 %) per annum with a premium of 32. 50 is the highest bid based upon the lowest rate of interest received for the Bonds;
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE VILLAGE OF GRANVILLE, OHIO, THAT:
The Bonds authorized by Ordinance No. 158-3, passed April 20, 1983, are awarded and sold to Magnus &Company
Cincinnati, Ohio in accordance with the notice
of sale and their bid for the Bonds at a premium of
32. 50 and bearing interest at the rate of
8-1/2 per annum, that rate being determined to be the
maximum interest rate per annum for the Bonds.
The Director of Finance is authorized and directed to cause the Bonds to be printed and to have the same executed and delivered, together with a true transcript of the proceedings authorizing the Bonds, to the successful bidder upon payment of the amount bid, plus the accrued interest to the date of delivery.
The Clerk of this Council is hereby authorized and directed to certify a copy of this ordinance to the Auditor of Licking County, Ohio.
It is hereby found and determined that all formal actions of this Council concerning and relating to the passage of this ordinance were adopted in an open meeting of this Council, and that all deliberations of this Council and of any of its committees that resulted in such formal action, were in meetings open to the public, in compliance with all legal Creoqduei.rements including Section 121.22 of the Ohio Revised
This ordinance is hereby declared to be an emergency measure necessary for the immediate preservation of the public peace, health and safety of this Village, and for the further reason that the prompt sale of the Bonds herein authorized is necessary in order to preserve the credit cf the Village by retiring the outstanding notes issued in anticipation thereof and provided that this ordinance receives the affirmative vote of five of the members of Council it shall be in effect from and immediately after its passage; otherwise, on the earliest date allowed by the Charter the Village.
Approved as to form:
A. 1 -
I, Catherine M. Miller, Clerk of Council, of the Village of Granville, Ohio, do hereby certify that the foregoing Ordinance 1is6-8a3.true and exact copy of Ordinance No.
Catherine M. Miller, Clerk of Council
ORDINANCE NO. 16-83