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HomeMy WebLinkAbout05-90 Resolution -_._~ RESOLUTION NO. 5-90 .J : A RESOLUTION DETERMINING TO SUBMIT TO THE ELECTORS THE '1'" '-:-.'.f _," QUESTION OF ISSUING BONDS FOR THE PURPOSE OF PAYING L,. COSTS OF PROV1DING ADDITIONAL FACILITIES AT THE ",.J COFFMAN PARK MUNICIPAL COMPLEX FOR THE CONDUCT OF MUNICIPAL GOVERNMENT OPERATIONS BY CONSTRUCTING, FURNISHING AND EQUIPPING A NEW POLICE FACILITY, AND ACQUIRING REAL ESTATE AND INTERESTS IN REAL ESTATE AND MAKING SITE IMPROVEMENTS THEREON, AND DECLARING AN EMERGENCY. BE IT RESOLVED by the Council of the City of Dublin, Franklin, Union and Delaware Counties, Ohio, that: Section 1. It is declared necessary to issue general obligation bonds of this City in the principal amount of $7,000,000 for the purpose of paying costs of providing additional facilities at the Coffman Park Municipal Complex for the conduct of municipal government operations by constructing, furnishing and equipping a new police facility, and acquiring real estate and interests in real estate and making site improvements thereon (the Bonds), and to levy a tax outside of the limitation imposed by Section 2 of Article XII of the Ohio Constitution to pay the debt charges on the Bonds and on any notes issued in anticipation of the Bonds. Pursuant to Section 133.18 of the Revised Code, the question of the issuance of the Bonds and the levy of the tax shall be submitted to the electors of this City at an election to be held on May 8, 1990. The approximate date of the Bonds will be July 1, 1990. The principal of the Bonds will be paid over a maximum of twenty years, and will bear interest at a rate now estimated at 7-1/2% per annum, payable semiannually. Section 2. The Clerk of Council is directed to certify a copy of this resolution to the County Aud itor of Franklin County for the calculation by the County Auditor of the estimated average annual property tax levy, expressed in dollars and cents for each $100 of tax valuation and in mills for each $1.00 of tax valuation, required throughout the maturity of the Bonds to pay the principal of and interest on the Bonds, assuming that they are all issued in one series and that the tax valuation of the City for the current year remains the same throughout the maturity of the Bonds (or, if that amount is not determined, the estimated amount of that tax valuation submitted by the County Auditor to the County Budget Commission). Section 3. This Council finds and determines that all formal actions of this Council concerning and relating to the adoption of this resolution were taken in an open meeting of this Council and that all deliberations of this Council and of any of its committees that resulted in those formal actions were in meetings open to the public in compliance with the law. Section 4. This resolution is declared to be an emergency measure necessary for the immediate preservation of the public peace, health, safety and welfare of this City and for the further reason that this resolution is required to be immediately effective so that it can be timely filed with the County Auditor in order to submit the bond issue to the electors at the election stated in Section 1. wherefore, this resolution shall be in full , force and effect immediately upon its adoption. Signed: L ._n Frances M. Urban C'"+ 1~ ;"-..--., ::~"""! mrtifv t"~. i' .---_., foregoing is !l In;;') (:1;"" .-f'xx~~.~'-.. ' 05-90 ",_./ .~ c:./{ _ duly adopted by f;i:: C::." _ r ," 29th .' ~~ v..~..e:1"/~;/p'? ----------------- Presiding Off~cer day of January 1990 -fd'kn/th Y7) ~/L/ ,') At t est: ~:/AIl"/'{!c.o '-1{! (.~~d.o...,t/ Clork of Council, Dublin, Ohio, Clerk ofouncil Passed: January 29, 1990 Effective: January 29, 1990 . COUNTY AUDITOR'S CERTIFICATE To the Council of the City of Dublin, Ohio: I cert ify that: l. On February ~, 1990, there was filed with me a certified copy of Resolution No. 5-90, passed January 29, 1990, by the Council of the City of Dublin declaring the necessity of issuing bonds in the amount of $7,000,000 for the purpose of paying costs of providing additional facilities at the Coffman Park Municipal Complex for the conduct of municipal government operations by constructing, furnishing and equipping a new police facility, and acquiring real estate and interests in real estate and making site improvements thereon, and the levying of taxes outside of the limitation imposed by Section 2 of Article XII of the Ohio Constitution for the payment of debt charges. 2. The estimated average annual property tax levy required through- out the maturity of those Bonds to pay the principal of and interest on the Bonds, calculated in the manner provided in Section 133.18(C) of the Revised Code, is 1.17 mills for each $1.00 of tax valuation, which amounts to 11.7 cents (eleven and seven tenths cents) for each $100. of tax valuation. 3. The total tax valuation in the City used in computing the esti- mated average annual property tax levy is $ 523,562,199 , which is the amount for the current year. O~ lll'dk.9 Dated: February 2-, 1990 C. County Auditor Franklin County, Ohio I acknowledge receipt, on behalf of the City, of the above certificate on February 1, 1990. /J . l(~ J~~ Clerk of Coun 11 City of Dublin, Ohio .