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~l] <br /> By: Brown, Chinnock, Gallagher, Graham, <br /> RESOluTioN No. 5797'$3 McBride, Salmon, Wendling <br /> AN EMERGENCY RESOLUTION declaring the necessity of a transfer <br /> ital fund of the City <br /> o£ an amount not to exceed $3,350,000 from the hose of such petition <br /> arage fund of the City and authorizing the preparation <br /> to the parking g such transfer and the filing <br /> of a petition requesting Pleas of Cuyahoga <br /> with the Tax Commissioner and the Court of Common <br /> County, Ohio. <br /> WHEREAS, pursuant to Section 1 it 1 (Che e'Hospital") Cand oper- <br /> the City, the City owns a municipal hosp <br /> es the Hospital through a Board of Trustees t e <br /> maintains a Lakewood <br /> ates, controls and manag <br /> "Board") and the Board, in connection therewith, <br /> <br /> ~ Hospital Fund; and asking garage (the <br /> also owns and operates a p <br /> WHEREAS, the City <br /> "Garage ) adjacent to the Hospital and in connection therewith mainta ns <br /> 4 n <br /> a Parking Facilities Fund; and <br /> WHEREAS, it is in the ementlof the Garage t <br /> ltt e Board for <br /> the operation, control and manag <br /> operation and use by the Hospital; and <br /> WHEREAS, the Garage has a market value of $3,350,000 based <br /> upon independent appraisals; and <br /> WHEREAS, the Board will agree to transfer up to $3,350,000 <br /> Facilities Fund of the <br /> control and management <br /> from the Lakewood Hospital Fund to the Par ing <br /> City in retuenfTOm the Citnstorthe BoaxdPeand~on, <br /> of the Garag y <br /> WHEREAS, such transfer of monies constitutes a "transfer rom <br /> ublic funds under (the City's) supervision" <br /> one fund to anothe of(Se)ction 5705.15, Ohio Revised Code; and <br /> within the meaning re uires any <br /> WHEREAS, Section 5705.16, Ohio Revised Code, groved by the <br /> Ohio Revised Code, to be aPP and the <br /> transfer under Section 5705.15, <br /> Tax Commissioner o£ the State of Ohio (the "Tax Commiss~.oner <br /> after the adoption of a resolu- <br /> Court of Common Pleas of CuyofhsuchCtransfer by this Council; and <br /> tion declaring a necessity <br /> WHEREAS, this Council, by two-thirds (2j3) vote o£ the members <br /> determines that this Resolution is an emergency measure <br /> reservation of the public peace, <br /> elected thereto, <br /> which is necessary for the immediate p <br /> property, health, safety and welfare and for the furthei rorder [oacon-e <br /> immediate authorization of such transfer is necessary <br /> e to the Board to enable the City to <br /> summate the transfer of the Garag ital and the citizens o£ the City and <br /> better serve the users of the Hosp' <br /> for the reasons set forth in Section 3 of th~he City of Lakewood: <br /> NOW, THEREFORE, BE IT RESOLVED by <br /> Section 1. It is hereby determined to be necessary for the <br /> reambles hereto and Section 3 hereof to to the <br /> reasons set <br /> f~ <br /> orth <br /> in the p <br /> fer up to $3,350,000 from the Lakewoas followsl Fund of the Csty <br /> Parking Facilities Fund of the City roval of such transfer <br /> (a) $1,350,000 immediately upon app <br /> by the Tax Commissioner and the Court of Common Pleas of <br /> Cuyahoga County, Ohio. reciated on <br /> (b) After the Existing Garage is fully dep ril 15 of <br /> the books of Lakewood Hospital Fund, annually on Ap <br /> " an amount equal to one-hagf <br /> each year (the "Transfer Date Garage. "Existing Gara e <br /> of the Net Revenues of the Existing <br /> <br />