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<br />the Act) in the utilization of shared facilities and services to <br />obtain economies in operation and more effective health service and <br />by providing efficient operation of Hospital Facilities through <br />leasing to Hospital Agencies and for other good and valuable <br />consideration, the receipt of which is hereby acknowledged, the <br />undersigned hereby agree that: <br />Section 1. Authorization. Pursuant to the provisions of <br />Section 140.03 of the Act, Bratenahl shall undertake, and Lakewood <br />specifically requests and authorizes Bratenahl to undertake, the <br />authorization, issuance, sale and delivery of Bratenahl's Notes <br />pursuant to the provisions of Section 140.06 of the Act, a portion <br />of the proceeds of which shall be used by Parents' Volunteer <br />Association to finance the Costs of Hospital Facilities described <br />on Exhibit A within Lakewood. <br />Section 2. Findings. and Determinations. It is hereby <br />found and determined that the issuance of the Notes by Bratenahl <br />will be in accordance with and will promote the public purposes set <br />forth in Section 140.02 of the Act. <br />Section 3. No Obligation. The costs of issuance of the <br />Notes by Bratenahl shall be paid from the proceeds of said Notes or <br />by Parents' Volunteer Association. The Notes shall not constitute <br />a general obligation debt or bonded indebtedness of Bratenahl or <br />Lakewood and neither the faith or credit or taxing power of <br />Bratenahl or Lakewood or any political subdivision of the State of <br />Ohio is pledged to the payment of principal of or interest on the <br />Notes and the holders or owners thereof shall not be given the <br />right and have no right to have excises or taxes levied by <br />Bratenahl or Lakewood for the payment of principal of and interest <br />thereon. <br />Section 4. Terms of Notes. The terms and provisions of <br />the Notes shall be as provided for or in or pursuant to the <br />ordinance of the Village Council of Bratenahl authorizing the <br />issuance, sale and delivery of the Notes. <br />Section 5. Effective Date. This Cooperative Agreement <br />shall take effect immediately upon its execution by Bratenahl and <br />Lakewood. <br />IN WITNESS WHEREOF, Bratenahl and Lakewood have caused <br />this Cooperative Agreement to be executed by their respective <br />officers as of the day and year first above written. <br />Approved as to form: <br />Village Solicitor <br />Village of Bratenahl, Ohio <br />VILLAGE OF BRATENAHL, OHIO <br />By: <br />Mayor <br />-2- <br />