City of Columbus - File #: 1865-2004

• File #: 1865-2004
• Version: 1
• Type: Ordinance
• Status: Passed
• File created: 10/14/2004
• In control: Rules & Reference Committee
• On agenda: 10/25/2004
• Final action: 10/27/2004
• Title: Authorizing the issuance and sale of special assessment bond anticipation notes in the amount of $1,235,000 for the McDannald Estates Area Sewer Assessment Project. ($1,235,000). Section 55(b) of the City Charter
• Sponsors: Patsy Thomas

Date	Ver.	Action By	Action	Result
10/27/2004	1	MAYOR	Signed
10/27/2004	1	CITY CLERK	Attest
10/25/2004	1	Columbus City Council	Approved	Pass
10/25/2004	1	Columbus City Council	Waive the 2nd Reading	Pass
10/25/2004	1	COUNCIL PRESIDENT	Signed
10/15/2004	1	Finance Drafter	Sent for Approval
10/15/2004	1	Auditor Reviewer	Reviewed and Approved
10/15/2004	1	CITY AUDITOR	Reviewed and Approved
10/15/2004	1	Finance Drafter	Sent for Approval
10/15/2004	1	CITY ATTORNEY	Reviewed and Approved
10/15/2004	1	Finance Drafter	Sent to Clerk's Office for Council
10/14/2004	1	Finance Drafter	Sent for Approval
10/14/2004	1	FINANCE DIRECTOR	Reviewed and Approved

Explanation

To authorize the issuance and sale of special assessment bond anticipation notes in the amount of $1,235,000 for the McDannald Estates Area for the construction of a sanitary sewer. The note will be sold to the City Treasury Investment Board.


Title

Authorizing the issuance and sale of special assessment bond anticipation notes in the amount of $1,235,000 for the McDannald Estates Area Sewer Assessment Project. ($1,235,000).

Section 55(b) of the City Charter


Body

WHEREAS, pursuant to Ordinance 0526-2004 adopted March 29, 2004, this Council determined to proceed with the sanitary sewer project described below in accordance with Resolution 103X-2003 adopted by this Council on May 12, 2003; and
WHEREAS, the City Auditor has certified to this Council that the estimated life of the improvements to be constructed from the proceeds of the bonds and notes hereinafter referred to exceeds five (5) years, the maximum maturity of bonds being twenty (20) years and the maximum maturity of notes being five (5) years; and
WHEREAS, it is deemed necessary to issue notes in anticipation of the issuance of bonds, in the amount of $1,235,000, to provide for the payment of a portion of the costs of the sanitary sewer project described below;
NOW THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
Section 1. It is hereby declared necessary to issue bonds of the City of Columbus, Ohio, (the "City") in the principal sum of $1,235,000 (the "Bonds") in anticipation of the levy and collection of special assessments for the purpose of providing funds to pay the costs of constructing and installing sanitary sewer improvements in the McDannald Estates area, which includes 8 lots on Sunbury Road, 8 lots on Scotsfield Drive, 23 lots on Echo Road, 8 lots on Macintosh Drive, 7 lots on McDannald Drive, 3 lots on Gillespie Court, 5 lots on Echo Court, 1 lot on Heather Court, and 11 lots on Heather Road.

Section 2. The Bonds shall be of...