22-90 Resolution
RECORD OF RESOLUTIONS
Dayton le~jQI Blo,k Co. I-arm No 30045
llcsollltiol! SO. 22-90 Passed 1.9
A RESOLUTION DETERMINING TO
SUBMIT TO THE ELECTORS THE
QUESTION OF ISSUING BONDS
FOR THE PURPOSE OF PAYING
COSTS OF CONSTRUCTING,
FURNISHING AND EQUIPPING
A MULTI-PURPOSE COMMUNITY
AND RECREATIONAL CENTER,
AND DECLARING AN EMERGENCY
BE IT RESOLVED by the Council of the City of Dublin, Franklin, Delaware
and Union Counties, Ohio, that:
Section 1. It is declared necessary to issue ~eneral obligation bonds of
this City in the principal amount of $11,500,000.00 for the purpose of
paying costs of constructing, furnishing and equipping a multi-purpose
community and recreational center and improving the site thereof (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 November 6, 1990. The approximate date
of the Bonds will be December 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~/o per annum, payable semi-annually.
Section 2. The Clerk of Council is directed to certify a copy of this
Resolution to the County Auditor 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.
Passed this 6th day of August , 1990.
-
, Frances M. Urban .
.., '___u_____________ Clerk of CouncIl, hereb'I ~I"":~, t"f the
forego:"q is a tme C:lIlY of ~g/Rcsolufon rh. _~2-90
adopred by rhe (ouncil of the Ci~ of Dublin, Ohio, "n :~,~ 6th"
day of August 199-.-
I .
Attest: ..~~~~.'4~
- ('Ierk of Council, Dublin, Ohio
~~. t(~ r hereby certify t~lt'f C~~:"S -:-f ~,.,~ no:'; '::,. -" "'~~1:; "(;:-0 posfed in +
Clerk of ouncil City of Dublin in accordance W:t:l Set:fon 731.25 of the Ohio Revised Codel
~A1",/~ ~ (~
'- Clerk.f Counci, Dublin, Ohio
)