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AGREEMENT <br /> <br /> WHEREAS, the Ohio Bell Telephone Company has filed an application with the <br /> Public Utilities Commission of Ohio for a rate increase, Case No. 84-1435-TP-AIR, <br /> affecting the rates and charges for telephone service offered by the Ohio Bell <br /> Telephone Company; and <br /> <br /> WHEREAS, the City of Cleveland and the City of Lakewood have determined that <br /> it is in the best interests of the residents of said cities for the appropriate <br /> officials of said cities to participate in the hearings and proceedings concerning <br /> the matter to insure that the rates and charges established by the Public Utilities <br /> Commission of Ohio for such telephone service are just, fair and reasonable; and <br /> <br /> WHEREAS, it has been determined by such cities that it is necessary to retain <br /> the services of expert public utility consultants and special legal counsel to <br /> properly and adequately evaluate the Ohio Bell Telephone Company rate increase <br /> application, and, if necessary, to present such expert testimony and otherwise <br /> participate in the hearings and proceedings in the matter; and <br /> <br /> WHEREAS, the City of Lakewood.desires to contribute the sum of $2,000 to be <br /> applied toward the cost of expert consultant services, special legal counsel as <br /> required, and other reasonable and necessary expenses in conjunction with said <br /> proceedings; and <br /> <br /> WHEREAS, the City of Cleveland, through its Law Director, is willing to receive <br />said funds, as Escrow Agent, and to contract for the services of such expert <br />consultants and special legal counsel as required and to make payment therefore, <br />as well as other reasonable and necessary expenses incurred in conjunction with <br />said proceedings; <br /> <br /> NOW, THEREFORE, in consideration of the mutual promises and covenants to be <br />kept and performed as set forth herein, the parties hereto do mutually agree as <br />follows: <br /> <br /> Section 1. Within thirty (30) days of the execution of this Agreement, the <br />City of Lakewood shall pay to the City of Cleveland the sum of $2,000. <br /> <br /> Section 2. The City of Cleveland, Law Director, shall receive said funds, <br /> <br />as Escrow Agent, and deposit same in a special fund established by the City of <br />Cleveland for such purposes. <br /> <br /> A. The City of Cleveland shall invest said funds in the same manner <br /> <br /> and to the same extent that the City of Cleveland islegally permitted <br /> to invest other public monies. <br /> <br />Page 1 of 3 pages <br /> <br /> <br />