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HomeMy WebLinkAbout020-92 Ordinance _ M ~"'".~ ._~.~__~_,., _..~" ~ ~ "__,."..~.. - , RECORD OF ORDINANCES Dayton Legal Blank Co. Form No. 30043 Ordinance NO..2.Q~9.2m.. Passed......... 'n' .m,m'm .m.,19,m__ AN ORDINANCE AUTHORIZING THE REGULATION OF TRAFFIC ON MUIRFIELD DRIVE AND OTHER ROADS IN MUIRFIELD VILLAGE '......... DURING THE ANNUAL MEMORIAL TOURNAMENT AND DECLARING AN ; EMERGENCY .......... WHEREAS, the Annual Memorial Tournament is scheduled at the Muirfield Village Golf Club from June 1, 1992 through June 7, 1992; and, WHEREAS, it is the opinion of the Dublin City council that such traffic would be better controlled, thereby assuring the health, safety and welfare of city residents, by regulating traffic on Muirfield Drive and other roads in Muirfield. NOW, THEREFORE, BE IT O~DAINED by the Council of the city of Dublin, state of Ohio,~ of the elected members concurring: section 1. That Muirfield Drive and all other roads in Muirfield are to be closed to all traffic except as authorized by the City Manager and Chief of Police of the City of Dublin, Ohio, during the hours of 7:00 A.M. to 7:00 P.M. from Monday June 1, 1992 through Sunday, June 7, 1992. section 2. That in the further interest of the public health, safety and welfare there shall be no parking by Tournament attendees and others associated with the Tournament ..,.... on any street or cul-de-sac in Muirf1eld except those streets L designated as approved parking areas by the City Manager, Chief of Police or their designee. section 3. That this Ordinance shall be, and the same hereby is, declared to be an emergency measure for the preservation of the public peace, health and safety, and therefore this Ordinance shall take effect and be in force immediately upon its passage. Passed this l/-1i day of ~ , 1992. ~~d ATTEST: ~ {!. ~ Clerk of Council I r ..... I ""bv (lrtifv tflot COl'ies of this Ord:nonce/ResohltieR w~ ~ted in the CJy of Duhlin in occordance w:th Section 131.25 of the Qt,io Revised CocIt. ~(!.~ Clerk .t Ceuncil, Dublin, Ohio >~""""-_"'"""~""""_'_""'<~"',"<,_"",,"_~',~__",""-l'"'.. ~_""",,,,,,,__,_____,,,-~,,+,,,,,,,~,;,'-<"'''''-','-'''''':_'''''''',,,,__;,-~-'.'" ""'_;~i'<';.",:'__',,;I:V.'_.':_.1 H.~ " ~:>;;,.., ,.. _.,.,",.,_~.o_.~_.".._ ". "'~-~"',. ' ." .."_~""<___.",,.~~.,f> ''"'"'''' "'--it -~IliIl"'fi-ilJ_ll__t"i1 -'L......_..~ ~ -_:'1 .'. 'I , ~f!f~~0~ ~J~.. ~~d~ ~., (6'///j ~O.f'-2?CC -G'~ tJk ~~~ ~., (6'///j ~o.f'-24.9.9 ~:T~ ~;:T~ 4/J~ ~ Jbed kW~ kW--t ~~, tlk 48,?/S g~.~ ~. !>>.~ i~ J~~.. March 12, 1992 ~M<ed ~rd Jf/~ gg~. gg~ g~.~ :3 65 -, 2 7 4 2 Anne Clark Clerk of Counc il City of Dublin 6665 Coffman Road Dublin, Ohio 43017 Subj ect: $150,000 Transportation System Improvement Notes $325,000 Dublin Village Center Street Lighting Notes $300,000 Coffman Park Municipal Complex Notes $2,120,000 Muirfield Drive Improvement Notes Dear Anne: Pursuant to Marsha Grigsby's request, I have prepared and enclose for eacr. of these issues a fiscal officer's ce~tificate, nineteen distribution copies of the note ordinance, a fiscal officer's certificate and county auditor's receipts. Please call me if yoa have ~ny questions after reviewIng these items. The enclosed supplemental fiscal office='s certificate for each issue should be reviewed and signed by Marsha Grigsby and presented to Council prior to consideration of the related note ordinance. I understand Council will consider the enclosed ordinances at j t: s March 16 regular meeting. Each note ordinance has been drafted as an emergency measure and should be passed following a slIspension of the rule requiring thrE;e readings. The three-reading rule should be suspended and the orcl:nClnc:e pa':;secl by separate affirmative votes of two-thirds or the members of ConneLJ., ',,] it h each vote on a roll-call. As I discussed with Marsha, each ordinance provides for the issuar'ccE) of notes to refund an outstanding issue of notes, issued for the same purpose and in the same principal amount. All of the outstanding note issues mature on April 15, 1992. Each ordinance provides that the notes i~ authorizes will he dated their date of issuancE' (anticipated tc be 2?ril 1!~) . and vlill matur;:~ 11'.>1' less than six nor morE; than nine months from the date of issuance. The specific maturity date for each issue will be set in the certificate of award for that issue to be executed by the Director of Finance in accordance with Section 6 of each ordinance. ,,-.. '-e__ . Tf , nl.'t ~,t/~fj<0~ Anne Clark March 12, 1992 P ag e 2 The ordinance for each issue authorizes the Director of Finance to sell the notes at private sale at an interest rate not to exceed 7% per year and, if requested by the original purchaser, at an after maturity interest rate not to exceed 10% per year. The rate(s) of interest will be established in the certificates of award. Each ordinance provides that the note issue authorized by that ordinance may be combined or consolidated with other notes being offered at the same time. I expect there will be two consolidated issues -- a combined $450,000 issue the transportation system and municipal complex notes because both these issues relate to bonds approved by the voters, and a combined $2,445,000 issue of the Muirfield Drive and Dublin Village street light ing notes. The notes must be issued in minimum denominations of $100,000 and have a maturity of nine months or less to fit within an exception to federal securities law, which would otherwise require the City to produce an official statement in connection with the sale of these notes. Section 10 of each ordinance addresses matters relating to federal tax law. The third paragraph of Section 10 of each ordinance indicates that each note issue is treated as an issue of "qualified tax-exempt obligations" under Section 265(b) of the Internal Revenue Code, thereby preserving certain tax benefits for banks purchasing the notes and making the notes more attractive as investments for those financial institutions. Following passage of each of the note ordinances, a copy of each ordinance should be delivered promptly to the Auditors of Franklin, Union and Delaware Counties, and each Auditor should complete, sign and date the appropriate versions of the enclosed county auditor's receipts. For the transcript of proceedings for each issue, please send me the following: l. The executed fiscal officer's certificate f~r each issue. 2. A certified copy of the note ordinance for dach issue as passed by Council. 3. The minutes or an extract of minutes of the Mar~h 16 meetin~ of Council showing passage of each note ordinance following separate roll call votes on the suspension of rules and on passage of each ordinance as an emergency measure. 4. The enclosed county auditor's receipts for each issue, com- pleted, signed and dated by the county audltors noted above. Please call if you have any questions. Very truly yours, Gregory W. Stype/ss G-, ~,~ Enclosures cc: Marsha Grigsby, Director of Finance (w/ordinanc€s anc.) Tim Hansley, City Manager Stephen J. Smith, Director of Law (w/ordinances enc.) Terry Foegler, Director of Development - .~.._-~~-~-,~ lj r-iT ~l' P.' SUPPLEMENTAL FISCAL OFFICER'S CERTIFICATE To the Council of the City of Dublin, Ohio: As fiscal officer of the City of Dublin, and supplementing my certificate of August 19, 1991, I certify in connection with your proposed issue of $2,120,000 notes (the Notes) , to be issued in anticipation of the issuance of bonds (the Bonds) for the purpose of paying the propl~rty owners' portion, in anticipation of the levy and collection of special assessments, and the City's portion, of the costs of opening, constructing and improving in """"" the City a public street to be known as Muirfield Drive by constructing a four I lane section with a variable width grass median from the curnmt terminus """""" approximately 638 feet north of the intersection of Muirfield Drive with Sells Mill Drive and Mojave Street northerly approximately 3,650 feet to the current intersection of Muirfield Drive and Brand Road by grading, draining, paving and installing concrete curbs and gutters, together with all necessary appurtenances, including a bikeway and bikeway underpass, constructing waterlines and fire hydrants, sanitary sewers and storm sewers, and acquiring real estate and interests in real estate therefor, together with all other necessary appurtenances (the improvement), that: l. The estimated life or period of usefulness of the improvement is at least five years. 2. The estimated maximum maturity of the Bonds, calculated in accordance with Section 133.20 of the Revised Code, exceeds twenty years but because the special assessments for the improvement will be payable over a period of twenty years and the Bonds are to be issued in anticipation of the collection of those special assessments, the maximum maturity of the Bonds is twenty years. 3. The maximum maturity of the Notes is December 31, 1996. Dated: March 16, 1992 ~~~.,b~ - Director of Finance City of Dublin, Ohio '''<WI' ,..""~= ,.=..,~."~ _.. ~.L_"........ -U~liili_.'fi lC;C.li'^ lj r.ti-_ H' .-n .1 SUPPLEMENTAL FISCAL OFFICER'S CERTIFICATE To the Council of the City of Dublin, Ohio: As fiscal officer of the City of Dublin, and supplementing my certificate of August 19, 1991, I certify in connection with your proposed issue of $325,000 notes (the Notes) , to be issued in anticipation of the issuance of bonds (the Bonds) for the purpose of paying costs of paying the property owners' portion, in anticipation of the levy and collection of special assessments, and the City's portion of the costs of improving Village r- Parkway from Sawmill Road to Tuller Road, Banker Drive from Sawmill Road to ~ Dublin Center Drive, Dublln Center Drive from West Dublin-Granville Road to Sawmill Road, and Tuller Road from Dublin Center Drive to Village Parkway by installing street lighting and acquiring real estate or interests in real estate therefor, together with all necessary appurtenances (the improvement) , that: 1. The estimated life or period of usefulness of the improvement is at least five years. 2. The estimated maximum maturity of the Bonds, calculated in accordance with Section 133.20 of the Revised Code, exceeds fifteen years but because the special assessments for the improvement will be payable over a period of fifteen years and the Bonds are to be issued in anticipation of the collection of those special assessments, the maximum maturity of the Bonds is fifteen years. 3. The maximum maturity of the Notes is December 31, 1996. Dated: August 19, 1991 ~~~;~c~ City of Dublin, Ohio ,.... '-' .- ---"._,-,","~~=---","".. I "'I p-,- , SUPPLEMENTAL FISCAL OFFICER'S CERTIFICATE To the Council of the City of Dublin, Ohio: As fiscal officer of the City of Dublin, and supplementing my f'" certificate of August 19, 1992, I cert ify in connection with your proposed \..- issue of $300,000 notes (the Notes) , to be issued in anticipation of the issuance of bonds (the Bonds) 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 improvement), that: 1. The estimated life or period of usefulness of the improvement is at least five years. 2. The maximum maturity of the Bonds, calculated in accordance with Section 133.20 of the Revised Code, is twenty years. That maximum maturity is based on my calculation of the average number of years of life or period of usefulness of the improvement as measured by the weighted average of the amounts proposed to be expended for the several classes of the improvement as follows: $890,000 for land acquisition, thirty years; $4,026,490 for buildings and other structures, twenty-five years; and $2,026,510 for equipment, furnishings and site improvements, ten years; the weighted average is therefore twenty years. The Bonds are to be paid from voted taxes approved by the electors of the City and the voters approved those taxes and the Bonds for a period of twenty years. If notes in anticipation of the Bonds are outstanding later than the last day of December of the fifth year following the year of issuance of the original issue of notes, the period in excess of ~ those five years shall be deducted from that maximum maturity of the Bonds. 3. The maximum maturity of the Notes is September 6, 2011, which is '-" twenty years from September 6, 1991, the date of the original notes issued for this purpose. Dated: March 16, 1992 ~~'\~~~ City of Dublin, Ohio """"" ^ .,,,-...~ ~- --~ , , - ! -J ._-- r,:-'-- j SUPPLEMENTAL FISCAL OFFICER'S CERTIFICATE To the Counc il of the City of Dublin, Ohio: As fiscal officer of the City of Dublin, and supplementing my f" certificate of August 19, 1992, I certify in connection with your proposed issue of $150,000 notes (the Notes) , to be issued in anticipation of the \r issuance of Bonds (the Bonds) for the purpose of paying costs of improving the vehicular transportation system in the City by constructing, reconstructing, extending, opening, improving, widening, grading, draining, curbing and changing the lines of municipal roads, highways, streets, bridges, sidewalks, bikeways and viaducts, acquiring real estate and interests in real estate therefor, and providing lighting systems and all other necessary appurtenances (the improvement) , that: 1- The estimated life or period of usefulness of the improvement is at least five years. 2. The maximum maturity of the Bonds, calculated in accordance with Section 133.20 of the Revised Code, is nineteen years. That maximum maturity is based on my calculation of the average number of years of life or period of usefulness of the improvement as measured by the weighted average of the amounts proposed to be expended for the several classes of the improvement as follows: $29,000,000 for constructing, reconstructing, extending, opening, improving, widening, grading, draining, curbing and changing the lines of municipal roads, highways, streets, sidewalks, bikeways and viaducts, twenty years; and $5,000,000 for lighting systems for roads, highways and streets, fifteen years; the weighted average is therefore nineteen years. The Bonds are to be paid from voted taxes approved by the electors of the City and the voters approved those taxes and the Bonds for a period of nineteen years. If f"" notes in anticipation of the Bonds are outstanding later than the last day of , December of the fifth year following the year of issuance of the original \.. issue of notes, the period in excess of those five years shall be deducted from that maximum maturity of the Bonds. 3. The maximum maturity of the Notes is September 6, 2011 , which is twenty years from September 6, 1991, the date of the original notes issued for this purpose. Dated: March 16, 1992 ~~~.~~~ Director of Finance City of Dublin, Ohio -- ~"".<~~~'"",-~ 1.1 .. 'I . $2,120,000 City of Dublin, Ohio Muirfield Drive Improvement Notes, Series 1992A """"" COUNTY AUDITOR'S RECEIPT I acknowledge receipt on this date of Ordinance No. \fo -92, passed by the Council of the City of Dublin on March 16', f9.92.., ':trJ;:'oyidipg-'fe-l~: the I .{ "" " . , " issuance and sale of the Notes identified above. PAL:'i~R c. :.~,;~'~;AL MAR" r\ 1,",""1 ~ .,.r.!.-'l......-'~ = , Dated: 1992 ~ , BY County Au Franklin County, Ohio f\~CE\'iEO , . y1. f\N~NCE \)t:. .:,;~ ^ _,"_~,,__,~~~^"~~.....~......_._o.._'~"____ $325,000 City of Dublin, Ohio Dublin Village Center Street Lighting Notes, Series 1992A ,JIll" COUNTY AUDITOR'S RECEIPT .........' I acknowledge receipt on this date of Ordinance No. \1 -92, passed by the Council of the City of Dublin on Mlrch~~~~'~I~92:-p:~~vTaing for the issuance and sale of the Notes identified abo't. PM.'.",. -, ''''"cAl MAR 1 q 1~q/ J - - -....;~'-- Dated: , 1992 County , Franklin County, Ohio ~ ,- ~,- --,,~ ..,-._,=.",,,.;,, , $300,000 City of Dublin, Ohio Coffman Park Municipal Complex Notes ,.... COUNTY AUDITOR'S RECEIPT '-' I acknowledge receipt on this date of Ordinance No. 1<3 -92, passed by the Council of the City of Dublin on Ha~h k6~-f92i..p~O~idTD' for P A.. .VII: ,{ '-. '-.i C oj .; j~ l the issuance and sale of the Notes identified above MAR 1 91992 / /FRAN ~ Dated: 1992 ( BY , , .ro',,, County Au 1. or Franklin County, Ohio ~jt$ ,- .'".~~.~,,~'"- , l' - rT_~T 1.... $150,000 City of Dublin, Ohio Transportation System Improvement Notes "",.... COUNTY AUDITOR'S RECEIPT "'"- I acknowledge receipt on this date of Ordinance No. \C\ -92, passed by the Council of the City of Dublin on March 1 , ~ing~L9.!. the RECEI.....r:o ; issuance and sale of the Notes identified above. PAU.,\ER C. MCI~cAL MAR' a ;C-:"i I .r.. '-' '..... -' l.- F Dated: , 1992 B County A\jdit Franklin County, Ohl0 "'- -_...~.," T , 1I1lP'Qfl'!i $2,120,000 City of Dublin, Ohio Muirfield Drive Improvement Notes, Series 1992A ,... COUNTY AUDITOR'S RECEIPT .......... I acknowledge receipt on this date of Ordinance No. lb -92, passed by the Council of the City of Dublin on March 16, 1992, providing for the issuance and sale of the Notes identified above. Dated: :> L(" , 1992 - "~ .~~ ~ . .._ .n'_'~~'."~.'",~..'.~.~ ,......,,"._...._._,~.~"_. If" $325,000 City of Dublin, Ohio Dublin Village Center Street Lighting Notes, Series 1992A ~ COUNTY AUDITOR'S RECEIPT ~.- I acknowledge receipt on this date of Ordinance No. \'1 -92, passed by the Council of the City of Dublin on March 16, 1992, providing for the issuance and sale of the Notes identified above. Dated: 3.'~~ , 1992 f~' ~~',.~,"",,-,~'--~~"'~"- " " ~ "-'~"~,~,-"",~""."", j'lt! nn , . $300,000 City of Dublin, Ohio Coffman Park Municipal Complex Notes ,-. COUNTY AUDITOR'S RECEIPT \;~v I acknowledge receipt on this date of Ordinance No. l~ -92, passed by the Council of the City of Dublin on March 16, 1992, providing for the issuance and sale of the Notes identified above. Dated: ~.2< 1992 ~ , ~)".." " ',- e-ount-y ,~ud',tor ~ County, Ohio -- ;'it!i~i;W - .~._.~~~- ...."",,",,,,,,. .. $150,000 City of Dublin, Ohio Transportation System Improvement Notes ".,.. COUNTY AUDITOR'S RECEIPT '~ I acknowledge receipt on this date of Ordinance No. \9 -92, passed by the Council of the City of Dublin on March 16, 1992, providing for the issuance and sale of the Notes identified above. Dated: (C< , 1992 '~, -- "", , $2,120,000 City of Dublin, Ohio Muirfield Drive Improvement Notes, Series 1992A ,- COUNTY AUDITOR'S RECEIPT 'k~W I acknowledge receipt this date of Ordinance No. -1" -92, on passed by the Council of the City of Dublin on March 16, 1992, providing for the issuance and sale of the Notes identified above. Dated: 3~/r' , 1992 t~ tf~ County Auditor Union County, Ohio RECEIVED " , ~ FINANCE DEPT. -,~--, '~ =-.~ '"" 1 :n-?I1 ~ $325,000 City of Dublin, Ohio Dublin Village Center Street Lighting Notes, Series 1992A ,jj!:~'I\!+j,">-. COUNTY AUDITOR'S RECEIPT I acknowledge receipt on this date of Ordinance No. \~ -92, passed by the Council of the City of Dublin on March 16, 1992, providing for the issuance and sale of the Notes identified above. Dated: 77/avl- /9 , 1992 cC~ If H-t~c--Z County Auditor Union County, Ohio RECEIVED ,\ ,,-',i" FINANCE DEPT. ,...,~..;-""","" -~ ._u $300,000 City of Dublin, Ohio Coffman Park Municipal Complex Notes ,,,,...,.., COUNTY AUDITOR'S RECEIPT '- I acknowledge receipt on this date of Ordinance No. lea -92, passed by the Council of the City of Dublin on March 16, 1992, providing for the issuance and sale of the Notes identified above. Dated: /J1au--tf )9 , 1992 -E~ )f ;'ULJ-eL County Auditor Union County, Ohio RECEIVED "': "1 I' ~~ ' - FINANCE DEPT. ~ , "_...,-~~-,,,-- tl r $150,000 City of Dublin, Ohio Transportation System Improvement Notes P"">, COUNTY AUDITOR'S RECEIPT I acknowledge receipt on this date of Ordinance No. \~ -92, passed by the Council of the City of Dublin on March 16, 1992, providing for the issuance and sale of the Notes identified above. Dated: l/h"!d /9, 1992 {~d- .1P/~'<!~5- County Auditor Union County, Ohio RECEIVED j 0,)) ;' I J . j" .~.1 --,' . . -' '....- . FINANCE DEPT.