101-84 Loan for Detroit/Warren bldg project

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(c) Prevailing Wage Rates. As provided in Section 165.031, Ohio Revised Code, all wages paid to laborers and mechanics employed on the Project shall be paid at not less than the prevailing rates of wages of laborers and mechanics for the class of work called for by the Project, which wages shall be determined in accordance with the requirements of Chapter 4115, Ohio Re- vised Code, for determination of prevailing wage rates; provided, that should the Company or other nonpublic user of the Project undertake, as part of the Project, construction to be performed by its regular bargaining unit employees who are covered under a collective bargaining agreement which was in existence prior to the date of the commitment instrument undertaking to issue the Proj- ect Bonds, then, in that event, the rate of pay provided under the collective bargaining agreement may be paid to those employees. Section 10. Indenture and A~reement. To provide for the issuance and sale of the Project Bonds and the consummation of the transactions contem- plated therein, the Executive and either the Fiscal Officer or the Clerk, as appropriate, are authorized and directed, for and in the name and on behalf of the Issuer, to execute, acknowledge and deliver, the Indenture and the Agree- ment in substantially the forms submitted to this Legislative Authority. Those instruments are approved with changes therein not inconsistent with this Bond Legislation and not substantially adverse to the Issuer and which are permitted by the Act and shall be approved by the officers executing the In- denture and the Agreement; provided, that the approval of those changes by those officers, and their character as not being substantially adverse to the Issuer, shall be evidenced conclusively by their execution of those instru- ments. Section 11. Other Documents. The Executive, the Fiscal Officer and the Clerk, as appropriate, are authorized and directed to execute any certifi- cations, financing statements, assignments and instruments which are necessary or appropriate to perfect the assignments set forth in the Indenture and to consummate the transactions contemplated in this Bond Legislation, the Inden- ture and the Agreement. Section 12. Compliance with Open Meeting Requirements. It is found and determined that all formal actions of this Legislative Authority concern- lng and relating to the adoption of this Bond Legislation were adopted in an open meeting of this Legislative Authority, and that all deliberations of this Legislative Authority and of any of its committees that resulted in those formal actions, were in meetings open to the public, in compliance with all legal requirements, including Section 121.22, Ohio Revised Code. Section 13. Effective Date. This ordinance, shall be in force and effect immediately after its passage and approval by the Mayor. Passed: ~~__~__, 1984 Approve~~, 1984