City of Columbus - File #: 184X-2004

• File #: 184X-2004
• Version: 1
• Type: Resolution
• Status: Passed
• File created: 7/14/2004
• In control: Finance & Economic Development Committee
• On agenda: 7/19/2004
• Final action: 7/21/2004
• Title: Resolution determining to proceed with the issue of bonds and certifying same to the board of elections in the amount of $104,150,000 for storm sewers ($104,150,000) Section 55(e) of the City Charter.

Date	Ver.	Action By	Action	Result
7/21/2004	1	MAYOR	Signed
7/21/2004	1	CITY CLERK	Attest
7/19/2004	1	Columbus City Council	Adopted	Pass
7/19/2004	1	Columbus City Council	Waive the 2nd Reading	Pass
7/19/2004	1	COUNCIL PRESIDENT	Signed
7/15/2004	1	Finance Drafter	Sent for Approval
7/15/2004	1	CITY ATTORNEY	Reviewed and Disapproved
7/15/2004	1	Finance Drafter	Sent for Approval
7/15/2004	1	CITY ATTORNEY	Reviewed and Approved
7/15/2004	1	Finance Drafter	Sent to Clerk's Office for Council
7/14/2004	1	Finance Drafter	Sent for Approval
7/14/2004	1	FINANCE DIRECTOR	Reviewed and Approved

Explanation

This legislation resolves that it is a necessary for the City to proceed to submit to the voters the question of issuing $104,150,000 in general obligation bonds for storm sewers. The election will be held on November 2, 2004.


Title

Resolution determining to proceed with the issue of bonds and certifying same to the board of elections in the amount of $104,150,000 for storm sewers ($104,150,000)

Section 55(e) of the City Charter.


Body

WHEREAS, the City Council (the "Council") of the City of Columbus, Ohio, (the "City") at its regular meeting on July 12, 2004, determined that it is necessary to issue bonds in the amount of $104,150,000 (the "Bonds") for the purpose of enlarging, extending, renovating and improving the municipal storm sewerage system for the collection, retention, control and disposal of storm sewerage and surface waters and prevention and control of soil erosion by the acquisition of real estate and other interests in real estate, landscaping and making site improvements, construction and installation of storm sewers, renovation and improvement of manholes and storm sewerage ditches and acquisition and installation of related facilities and appurtenances, and refunding bonds previously issued for such purpose, and that it is necessary that a direct tax be annually levied on all the taxable property in the City outside of the ten mill limitation to meet the debt charges on the Bonds and any securities issued in anticipation thereof,

NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Columbus, Ohio, (the "City") that:

Section 1. It is necessary to proceed with the issuance of the Bonds in the amount and for the purpose described in the preamble to this Resolution, and to levy, outside of the ten mill limitation provided by law, an annual tax on all the taxable property in the City to pay debt charges on the Bonds and any securities issued in anticipation thereof.

Section 2. The Bo...