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IDB109 <br /> <br /> (b) The Project is~consistent with the <br />purposes of Section 13 of Article VIII of the Ohio Constitution, its <br />purpose being to create or preserve jobs and employment opportunities <br />and to improve the economic welfare of the people of the City of <br />Lakewood, Ohio and the State of Ohio. <br /> <br /> Section 2. That in order to provide funds to pay <br />the costs of the Project, t~is Council hereby agrees to authorize and <br />issue an industrial development revenue bond of the Issuer pursuant to <br />Chapter 165 of the Ohio Revised Code upon the terms and subject to the <br />conditions provided in the form of Agreement to Issue Bond by and <br />between the Issuer and the Borrower attached hereto as Exhibit A, <br />which Agreement is hereby in all respects approved. The Mayor is <br />hereby authorized and directed to execute and deliver such Agreement <br />substantially in such form with such changes as are not adverse to the <br />Issuer as he may approve, such execution being conclusive evidence of <br />approval of any such changes. <br /> <br /> Section 3. That is is hereby found and determined <br />that all formal actions of ~nis Council concerning and relating to the <br />adoption of this ordinance were adopted in an open meeting of this <br />Council, and that all deliberations of this Council and of any of its <br />committees that resulted in such formal actions were in meetings open~ <br />to the public, in compliance with all legal requirements, including <br />Section 121.22 of the Ohio Revised Code. <br /> <br /> Section 4- That this ordinance is hereby declared <br />to be an emergency measure necessary for the immediate preservation of <br />the public peace, property, health or safety of the Issuer and its <br />inhabitants, and for the further reasons set forth and defined in the <br />preamble of this ordinance, and provided it receives the affirmative <br />vote of two-thirds of all members elected to Council, this ordinance <br />shall take effect and be in force immediately upon its passage by the <br />Council and approval by the Mayor; otherwise, it shall take effect and <br />be in force after the earliest period allowed by law. <br /> <br />Passed: September /~ ,1985 <br /> President of Council <br /> <br />Approved: September /7 ,1985 <br /> <br /> <br />