City of Columbus - File #: 1178-2004

• File #: 1178-2004
• 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 $33,515,000 for Division of Sewerage and Drainage - storm sewers ($33,515,000) 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 Drafter	Sent for Approval
6/17/2004	1	Finance Drafter	Sent for Approval
6/17/2004	1	FINANCE DIRECTOR	Reviewed and Approved
6/17/2004	1	CITY AUDITOR	Reviewed and Approved
6/17/2004	1	Auditor Reviewer	Reviewed and Approved
6/17/2004	1	CITY ATTORNEY	Reviewed and Approved	Pass

Explanation

To authorize the issuance of limited tax bonds in the amount of $33,515,000 for Division of Sewerage and Drainage - storm sewers. 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 $33,515,000 for Division of Sewerage and Drainage - storm sewers ($33,515,000)

Section 55(B) of the City Charter.



Body

WHEREAS, it is now deemed necessary to issue and sell $33,515,000 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 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 and flooding, acquisition of real estate and interests in real estate, landscaping and site improvements thereon,construction and installation of storm sewers, floodwalls, dams and levies, renovation and improvement of manholes and storm sewerage ditches, acquisition and installation of facilities, and appurtenances necessary therefor; 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 twenty (20) 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 Thirty-Three Million Five Hundred Fifteen Thousand Dollars ($33,515,000) (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. Ther...