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<br />ORDINANCE NO. 16-04 <br /> <br />BY: <br /> <br />Dever, Dunn, FitzGerald <br />Madigan, Seelie <br /> <br />AN AMENDED ORDINANCE authorizing the Mayor on behalf of the City of Lakewood to <br />transfer title to Lakewood Hospital Association of one parcel of real estate on which the Madison <br />Square Building is located at Hi644 Madison Avenue, Lakewood, Ohio, bearing Permanent <br />Parcèl Number 313-27-015, for the purpose of sale of said property, and the investment of the <br />proceeds into a restricted account of Lákewood Hospital Association. <br /> <br />WHEREAS, 15644 Madison Avenue, Lakewood, Ohio, bearing Permanent Parcel <br />Number 313-27-015 is currently titled to the City of Lakewood; and <br /> <br />WHEREAS, said property was purchased using excess hospital revenue by the City of <br />Lakewood in 1984 by the City of Lakewood for medical office space; and <br /> <br />WHEREAS, currently the proceeds of the lease of said property Is paid to Lakewood <br />Hospital Association; and <br /> <br />WHEREAS, Lakewood Hospital Association would like to sell said property, and place <br />the proceeds into a restricted account of Lakewood Hospital Association. <br /> <br />BE IT ORDAINED BY THE CITY OF LAKEWOOD, STATE OF OHIO: <br /> <br />Section 1. That the Mayor, on behalf of the City of Lakewood is hereby authorized to <br />transfer title to Lakewood Hospital Association of one parcel of real estate on which the Madison <br />Square Building is located at 15644 Madison Avenue, Lakewood, Ohio, bearing Permanent <br />Parcel Number 313-27-015 for the purpose of sale of said property, the proceeds from which <br />shall be,placed into a restricted account of Lakewood Hospital Association, and <br />subject to the approval of the Lakewood Hospital Association Board of Trustees, <br />shall be used for the purchase of real estate and construction of Hospital <br />facilities in the City of Lakewood; provided, however, that prior to use of the <br />funds, the Hospital shall have first notified in writing all members of City Council <br />and the Mayor of its intent to use the fUnds for the purposes set forth in the <br />notice. The Hospital may use such funds on or after sixty (60) calendar days from <br />the date of notice, so long as there shall not have been received prior thereto a <br />written objection from at least three members of City Council rejecting the <br />Hospital's proposed use of such funds, consistent with Council's authority <br />regarding amendmènts and modifications as set forth in Section 14.6 of the Lease <br />between the City of Lakewood and the Lakewood Hospital Association, dated <br />December 23, 1996. <br /> <br />í <br />! <br />f <br />¡ <br /> <br />Section 2. It is found and determined that all formal actions of this Council <br />concerning and relatiIJ9 to the passage of this Ordinance were passed in an open meeting of <br />this Council and. that all deliberations of this Council and any of its committees that resulted in <br />$uch actions were in meetings open to the public and in compliance with legal requirements. <br /> <br />AdoPted:-~ 'i}).Øó/ <br /> <br />~.L <br /> <br />President of Council <br /> <br />Approved: <br /> <br />'-¡-1-0Y <br /> <br />~~~ ~4Æ- <br />M~H"~ <br />