63-86 Transfer from Board of Trustees to Hosp. Association

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Facilities from the Hospital Trustees to Lakewood Hospital Association under the terms and conditions provided in the Indentures and the Lease attached hereto and incorporated by reference herein as if the same were fully re- written herein and placed on file with the Clerk of Council. This Council approves the Lease in substantially the form now on file with the Clerk of Council and attached hereto, with such changes, if any, which are approved by the officers of this City executing.the Lease, are peemitted by the Indentures and Chapter 140, Ohio Revised Code, are not inconsistent with this Ordinance, and are not adverse to the City. The Mayor, President of this Council and Director of Finance are hereby authorized and directed to execute the Lease on behalf of this City, provided that the effective date of the Lease shall be as provided in Section 4 of this Ordinance. Execution of the Lease by said officers shall be conclusive evidence of their approval of any changes, if any, in the Lease from the form of Lease now on file with the Clerk of Council and attached hereto. Section 4. Upon the filing of the Lease in the Lease Records of Cuyahoga County, the Lease shall be deemed delivered to Lakewood Hospital Association by this City, and the term of the Lease shall commence as of the date of that filing, provided, however, that the filing of the Lease shall not occur until after consent by National City Bank as Trustee to the Lease of the Facilities to Lakewood Hospital Association, in accordance with Section 5.13 of the Trust Indenture dated as of March 15, 1983. Section 5. The City acknowledges its participation in and approves the organization of Lakewood Hospital Association as described in the Lease. The Mayor, the Council members and any persons who are members of the Board of Trustees of Lakewood Hospital at the time that they become members of the Governing Board are designated by this Council as serving in their official capacity and are hereby designated to represent the City and instructed to represent the City and its interests and shall continue to be so designated and instructed through their term as such. Section 6. It is found and determined that this Ordinance was enacted in accordance with all requirements of law applicable to such enact- ment and Ordinance. Section 7. The Clerk of Council is hereby directed to forward certi- fied copies of this Ordinance to the Hospital Trustees, the Bond Trustees and Lakewood Hospital Association. Section 8. the earliest time permitted by law. Passed: That this Ordinance shall be in full force and effect at , 1987 ~)~President of C~~ , Approved:~ , 1987 - 3-