03-68 Resolution
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RESOLUTION NO. 0.3 -(,g
TO DECLARE THE NECESSITY OF SUBMITTING TO THE ELECTORS OF
THE VILLAGE OF DUBLIN, THE QUESTION OF ISSUING BONDS FOR
I THE PURPOSE OF CONSTRUCTING A MUNICIPAL WATERWORKS
BE IT RESOLVED by the Council of the Village of Dublin, County of
Franklin and State of Ohio:
Section 1. That for the purpose of constructing a municipal waterworks
system by the acquisition of real estate or easements or other interests in real es-
tate and the construction of water lines, a booster station and appurtenances, it is
necessary to issue bonds of this Village in the amount of Two Hundred Fifty-Two Thousand
Seven Hundred Dollars ($252,700) in anticipation of the collection of special assess-
ments to be levied for said purpose, and it is necessary to levy a tax outside the
ten mill limitation of Article XII, Section 2 of the Ohio Constitution to pay the inter-
est on and to retire said bonds. The question of issuing said bonds and the levy of
said tax shall be submitted to the electors of said Village at a special election to be
held on May 7, 1968. The approximate date of said bonds will be October 1, 1968; said
bonds will mature in 20 annual installments after their issuance, and will bear interest
at a rate now estimated at 5% per annum, payable semi-annually.
Section 2. That the clerk shall certify a copy of this resolution 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, assum-
ing that they are all issued in one series and that the amount of the tax list of this
e village 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 Village
and its inhabitants and for the further reason that this resolution must be certified
to the Franklin County Auditor by January 18, 1968 in order to submit the question
herein to the electors; wherefore this resolution shall take effect and be in force
from and immediately after its passage.
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Passed: January , 1968.
Attest: ~k -R 42t2.1 ~~~
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