7806-03 Water fund - Belle Ave Rehab

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RESOLU~ON NO. 7806-03 BY:Corrigan, Dever, Dunn, FitzGerald, George, Rash, Seelie. A RESOLU~ON dedadng the offidal i.teet and reasonable expectation of the City of hakewood on behalf of the State of Ohio (the borrower) to reimburse its Water Fund for the 8e~;e Ave.ue Rehabilitatio. Project with the proceeds of tax exempt debt of the State of Ohio. ' WHEREAS, the City of Lakewood has been awarded financial assistance by the District One Public Works IntegraUng Committee and the Director of the Ohio Public Works Commission for Belle Avenue RehabilitaUon Program WHEREAS, the Ohio Public Works Commission requires municipalities to pass a ResolutiOn of Intent indicating that the City intends to seek reimbursement for construction costs related to the project. Now Therefore, BE JT RESOLVED BY THE C~TY OF LAKEWOOD, STATE OF OHIO Section 1. The City of Lakewood reasonably expects to receive a reimbursement for the Belle Avenue Rehabilitation Program, Detroit Avenue to Lakewood Park, as set forth in Appendix A of the Project Agreement with the proceeds of bonds to be issued by the State of Ohio. Section 2. The maximum aggregate principal amount of bonds, other than for costs of issuance, expected to be issued by the State of Ohio for reimbursement to the City of Lakewood is $137,022. Section 3. The Clerk of the Council of the City of Lakewood is hereby directed to keep a file a copy of this Resolution in Council's Office for the inspection and examination of all persons interested therein and to deliver a copy of this Resolution to the Ohio Public Works Commission. Section 4. It is found and determined that all formal actions of this Council concerning and relating to the passage of this resolution were adopted in an open meeting of this council, and that all such deliberations of this Council and any of its committees that resulted in such formal action, were in meetings open to the public, in compliance with all legal requirements. Approved:~~ ~/ ~ ~