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8816-15 Authorize $676,500 loan with OPWC for Watermain Replacement Project
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8816-15 Authorize $676,500 loan with OPWC for Watermain Replacement Project
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7/23/2015 11:17:10 AM
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7/23/2015 11:16:26 AM
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OHIO PUBLIC WORKS COMMISSION <br />PROJECT LOAN AGREEMENT <br />STATE CAPITAL IMPROVEMENT PROGRAM <br />Pursuant to Ohio Revised Code 164.05 and Ohio Administrative Code 164 -1 -21, this Project Loan Agreement (this <br />"Agreement ") is entered into July 1, 2015 by and between the State of Ohio, acting by and through the Director of <br />the Ohio Public Works Commission (hereinafter variously referred to as the "Director" or the "OPWC" ), located <br />at 65 East State Street, Suite 312, Columbus, Ohio 43215, and City of Lakewood, Cuyahoga County (hereinafter <br />referred to as the "Recipient "), located at 12650 Detroit Avenue, Lakewood, OH 44107, in respect of the project <br />named Watermain Replacement 2016, and as described in Appendix A of this Agreement to provide an amount <br />not to exceed Six Hundred Seventy -SLY Thousand, Five Hundred Dollars ($676,500) for the sole and express <br />purpose of financing or reimbursing costs of the Project as more fully set forth in this Agreement and the <br />Appendices attached hereto. <br />Subdivision Code: 035 -41664 OPWC Project Loan Control No. CA168 <br />
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