City of Columbus - File #: 1177-2004

• File #: 1177-2004
• Version: 1
• Type: Ordinance
• Status: Passed
• File created: 6/17/2004
• In control: Finance & Economic Development Committee
• On agenda: 6/28/2004
• Final action: 7/1/2004
• Title: Authorizing the issuance of limited tax bonds in the amount of $45,835,000 for transportation ($45,835,000) Section 55(B) of the City Charter.

Date	Ver.	Action By	Action	Result
7/1/2004	1	MAYOR	Signed
7/1/2004	1	CITY CLERK	Attest
6/28/2004	1	Columbus City Council	Approved	Pass
6/28/2004	1	Columbus City Council	Waive the 2nd Reading	Pass
6/28/2004	1	COUNCIL PRESIDENT	Signed
6/18/2004	1	Finance Drafter	Sent to Clerk's Office for Council
6/17/2004	1	Finance Drafter	Sent for Approval
6/17/2004	1	FINANCE DIRECTOR	Reviewed and Approved
6/17/2004	1	Finance Drafter	Sent for Approval
6/17/2004	1	Auditor Reviewer	Reviewed and Approved
6/17/2004	1	CITY AUDITOR	Reviewed and Approved
6/17/2004	1	Finance Drafter	Sent for Approval
6/17/2004	1	CITY ATTORNEY	Reviewed and Approved

Explanation

To authorize the issuance of limited tax bonds in the amount of $45,835,000 for transportation. This bond sale will be conducted on a competitive basis and is a cooperative effort of the Department of Finance and the City Auditor's Office.

Title

Authorizing the issuance of limited tax bonds in the amount of $45,835,000 for transportation ($45,835,000)

Section 55(B) of the City Charter.



Body

WHEREAS, it is now deemed necessary to issue and sell $45,835,000 of bonds under authority of the general laws of the State of Ohio, and in particular Section 133.23 of the Ohio Revised Code, for the purpose of widening, opening, extending, constructing, paving, repaving, improving and changing the line of expressways, freeways, roads, highways, bikeways, sidewalks, streets, alleys, bridges, viaducts, overpasses, underpasses, grade crossing eliminations, and service and access roads, including development of offstreet parking facilities, the acquisition and installation of parking meters, traffic control systems, equipment and signs, the acquisition of real estate and interests in real estate and related equipment, and landscaping and site improvements; and

WHEREAS, the City Auditor has certified to this Council that the estimated life of the improvement stated above which is to be financed from the proceeds of said bonds exceeds five (5) years and the maximum maturity of said bonds is seventeen (17) years;

NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:

Section 1. Bonds of the City of Columbus, Ohio (the "Municipality") shall be issued in the principal sum of Forty-Five Million Eight Hundred Thirty-Five Thousand Dollars ($45,835,000) (the "Bonds") for the purpose set forth above and for paying the cost of advertising, printing and legal services and other costs incidental thereto. The Bonds shall be issued in one lot.

Section 2. There shall be and is hereby levied annually on all the taxable prop...