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<br />of the Coúnty Treasurer as provided in Section 570942 of the Ohio Revised Code, together with <br />any associated rollback payments received by the City, and hereby provides that all of the moneys <br />deposited in the Fund shall be used for any or all of the following purposes: <br /> <br />(i) to pay any and all acquisition, construction, installation, financing costs, and <br />any and all other direct and indirect costs of the Public hnprovements, :including those costs set <br />forth in Ohio Revised Code Section 133 15(8), as set forth in Exhibit B; <br /> <br />(ü) to pay the interest on, principal of,. and any premium on bonds or notes or <br />other obligations, including refimding bonds or notes or other obligations, issued by the City or by <br />the Port Authority tof1nance costs of the Public Improvements until such notes or bonds or other <br />obligations are paid in full; and <br /> <br />(iii) to reimburse the City or the Port Authority for any fimds nsed by the City or <br />the Port Authority to pay costs of the Public Improvements, or to pay interest, principal, or <br />premium, on any of the aforesaid notes, bonds, loans or other obligations prior to receipt of Service <br />Payments; <br /> <br />The Fund shall remain in existence so long as Service Payments are collected and used for <br />the aforesaid purposes, after which said Fund shall be dissolved in accordance with said Section <br />5709.43. <br /> <br />SECTION 9. Pursuant to Section 5709 40 of the Ohio Revised Code, the Clerk of Council <br />is hereby directed to deliver a copy of this Ordinance to the Director of the Department of <br />Development of the State of Ohio within fifteen days after its passage. On or before March 31 of <br />each year that the exemption set forth in Section 3 hereof remains in effect, the Mayor or other <br />authorized officer of this City shall prepare and submit to the Director of the Department of <br />Development of the State of Ohio the status report required under Section 570940 of the Ohio <br />Revised Code. <br /> <br />SECTION 10 It is hereby found and determined that all formal actions of this Council <br />concerning and relating to the passage of this Ordinance were passed in open meetings of this <br />Council, and that all such deliberations of this Council and of any of its committees that resulted <br />in any such fonnal action, were in meetings open to the public, in compliance with all legal <br />requirements including the City's Charter and Codified Ordinances <br /> <br />SECTION II.. This ordinance is hereby declared to be an emergency measure necessary <br />for the ÎInrtlediate preservation of the public peace, property, health, safety and welfare in the <br />City and for the usual daily operation of the City for the reasons set forth and defuíed in the <br />preamble to this ordinance, and provided it receives the affirmative vote of at least five (5) of its <br />members elected to C01UlCil, this ordinance shall take effect and be in force immediately upon its <br />passage by the Council ànd approval by the Mayor; otherwise, it shall take effect and be in force <br />after the earliest period allowed by law <br /> <br />Passed: t~ I 7 <br /> <br />,2006 <br /> <br />f2~.~ <br /> <br />President of Council <br /> <br />Approved: ;,4, n <br /> <br />,2006 <br /> <br />-'h ~ 7. tI(A~ <br />Clerk 0 . oUllCll <br /> <br />~,~ <br />Kiayor <br />