20-77 Resolution
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RECORD OF RESOLUTIONS
National Graphics Corp,. Cols,. 0, ~ ~ Form No, 6233-A
Resolution NO'nnnmgJJ_uu'Zfn_____ Passed ______JUtt2nOLt9lI________________19 ________
TO DECLARE THE" NECESSITY OF SUBMITTING
TO THE ELECTORS OF THE V I LLAGE OF DUB-
(] LIN, THE QUESTION OF ISSlll NG BONDS FOR
THE PUR POSE OF IMPROVING THE rvlUN IC I PAL
WATER DISTRIBUTION SYSTEM.
BE IT RESOLVED by the Council of the Vi Ilage of Dubl in, County of
Franklin and State of Ohio:
SECTION I . That for the purpose of expanding and improving the
municipal water distribution system by the acquisition of real
estate or easements or other interests in real estate, and the
construction of water lines and appurtenances, it is necessary to
issue bonds of this Vi I lage in the amount of Four Hundred Forty-
Six Thousand Dollars ($446,000) in ant i c i pat i on of the collection
of special assessments to be levied for said purpose, and it IS
necessary to levy a tax outside the ten mil I I imitation of Articl
X II, Section 2 of the Ohio Constitution to pay the interest on
and to retire said bonds. The question of issuing said bonds and
the levy of said tax shal I be submitted to the electors of said
Vi I lage at a general election to be held on November 8, 1977.
I The approximate date of said bonds wi II be May I , 1978; said
bonds will mature in 20 annual installments after their Issuance,
and will bear interest at a rate now estimated at 6.5% per annum,
[] payable semiannually.
SECTION 2. That the clerk shall certify a copy of this resolu-
tion to the auditor of Franklin County for his calculation of the
average annual tax levy required throughout the life of the bonds
to pay the interest on and to retire said bonds, assuming that
t hey are a I I issued in one series and that the amount of the tax
list of this Vi Ilage remains the same throughout the life of said
bonds.
SECTION 3. This resolution is hereby declared to be an emergency
measure necessary for the preservation of the public peace,
health, and safety of the Vii lage and its inhabitants, and for
the further reason that this resolution must be certified to the
Frankl in County Auditor by July 15, 1977 in order to submit the
quest i on herein to the electors; wherefore this resolution sha II ;
take effect and be In force from and immediately after its pass- j
age.
Passed this Jo~ day of 7""""t" , 1977.
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(J ~b~
~1ayor- Pres i ding 0 f i cer
ATTEST:
~!J~
Clerk-Treasurer