This ordinance authorizes the issuance of limited tax general obligation bonds, not to exceed $71,480,000.00. The proceeds from these refunding bonds will be used to refund certain outstanding general obligation bonds previously issued by the City of Columbus. The purpose is to achieve a reduction in debt service associated with the outstanding bonds by taking advantage of current market conditions. The ordinance includes provisions for a direct tax levy (Debt Service Levy) on all taxable property in the City to provide funds for the repayment of principal and interest on the new bonds. It also details the management, sale, and administration of these bonds, including the appointment of a Bond Registrar and the option for a book-entry system. Emergency passage was requested to capitalize on favorable market conditions.