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AN ORDINANCE AUTHORIZING THE ISSUANCE OF NOT TO EXCEED $915,000 OF BONDS FOR THE PURPOSE OF CONSTRUCTING SITE IMPROVEMENTS AND APPURTENANCES THERETO IN CONNECTION WITH THE GROVEPORT TOWN CENTER PROJECT; AND APPROVING RELATED MATTERS IN CONNECTION WITH THE ISSUANCE OF THE BONDS
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WHEREAS, the Finance Director (the "Finance Director") of the City of Groveport (the "City") has certified to this Council that the estimated life of the improvement stated in the title of this ordinance (the "Project") which is to be constructed from the proceeds of the bonds herein described exceeds five years and the maximum maturity of said bonds is 20 years; and
WHEREAS, it is now deemed necessary to issue and sell not to exceed $915,000 of such bonds under authority of the general laws of the State of Ohio, including Chapter 133, Ohio Revised Code, and in particular Section 133.23 thereof and the Charter of the City, for the purpose stated in the title of this ordinance;
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF GROVEPORT, COUNTY OF FRANKLIN, STATE OF OHIO, A MAJORITY OF ITS MEMBERS CONCURRING:
Section 1. Issuance of the Bonds. It is hereby declared necessary to issue bonds of the City in the principal sum of not to exceed $915,000, or such lesser amount as shall be determined by the Finance Director and certified to this Council, which bonds shall be shall be designated "City of Groveport, Ohio Various Purpose Bonds, Series 2013," or as otherwise determined by the Finance Director (the "Bonds"), for the purpose described in the title of this Ordinance. The Bonds may be issued in one or more series.
Section 2. Combining Bonds for Purposes of Issuance and Sale. It is hereby determined, that for the purposes of issuance and sale, it may be in the best interest of the City to combine the Bonds with other limited tax general obligation bonds of the City authorized by separate ordinance of this Council. The Bonds and such other bonds shall be j...
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