Explanation
This ordinance authorizes the issuance of limited tax bonds in the amount of not to exceed $255,000.00 for various public infrastructure improvements that may be appropriate in connection with efforts to attract and retain certain businesses in Columbus. The bond sale will be conducted on a negotiated basis with Stifel, Nicolaus & Company, Inc., as senior manager, and J.P. Morgan Securities, co-senior manager.
Title
To authorize the issuance of limited tax bonds in the amount of not to exceed $255,000 to make various public infrastructure improvements that may be appropriate in connection with efforts to attract and retain certain businesses in Columbus ($255,000). Section 55(B) of the City Charter.
Body
WHEREAS, it is now deemed necessary to issue and sell up to $255,000 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 streets, alleys, bridges, viaducts, bioswales, overpasses, underpasses, service and access roads, sidewalks, curbs and gutters, traffic control systems, equipment and signs, street lights, street trees and other landscaping improvements in the public right-of-way, and acquiring real estate and interests in real estate in connection with the same; 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 ten (10) 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 one or more series, in the principal sum of Two Hundred Fifty-Five Thousand Dollars ($255,000) (the "Bonds"), or such lesser amount as shall be determined by the Dir...
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