Title
AN ORDINANCE PROVIDING FOR THE ISSUANCE AND SALE OF BONDS IN THE MAXIMUM PRINCIPAL AMOUNT OF $2,700,000 FOR THE PURPOSE OF PAYING COSTS OF IMPROVING THE CITY’S RECREATIONAL FACILITIES BY INSTALLING AND IMPROVING A MULTIPURPOSE TRAIL ALONG BOSTON MILLS ROAD BETWEEN OMNI LAKE PARKWAY AND LAKE FOREST DRIVE AND WITHIN BOSTON MILLS PARK, RENOVATING AND IMPROVING PARKING FACILITIES WITHIN THE PARK AND CONSTRUCTING RELATED BRIDGE IMPROVEMENTS OVER LAKE FOREST.
Brief Description: This ordinance allows for the multi-purpose trail along Boston Mills Road between Omni Lake Parkway and Lake Forest Drive.
Body
Legislative History
Resolution No. 22-74 authorized the engineering design for the Boston Mills Road trail project
Ordinance 23-117 authorized the issuance of $1,750,000 in notes to finance the trail project
Ordinance 24-116 authorized the issuance of $1,750,000 in notes to finance the trail project
Ordinance 25-30 authorized acceptance of $250,000 grant from State of Ohio for bridge
Ordinance 25-33 authorized bid and award of contract to construct the trail
Purpose & Explanation
The purpose of this ordinance is to allow for the issuance of bonds to finance the cost of the multi-purpose trail along Boston Mills Road that will connect the existing trail at Omni Park to Lake Forest. The project will also include a stone loop within the park, a boardwalk and bridge over Lake Forest.
Legal Authority for Proposed Legislation
Pursuant to Charter Section 6.04, Contracts & Purchasing:
Competitively bid and advertised for two consecutive weeks; bid tab attached: [Yes/No/NA])
Joint or Cooperative Purchase Program
Professional Services
X Other
Fiscal Impact
Currently Budgeted (Account #, $)
Supplemental Appropriation Required (Account #, $)
X Appropriation Not Required
Does this legislation require use of an emergency clause?
Yes [if so, explain why]
X No
Recommendation
Suggested Action
Staff recommends approval of the Ordinance to allow for timely issuance of the bonds.
Submitted by,
Thom Sheridan, City Manager
Jeff Knoblauch, Asst. City Manager/Finance Director