1985 008 Ordinance - Laserfiche WebLink

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_ Ordinance No. 85 - 8 Introduced By: Mayor Carmen and Council EMERGENCY ORDINANCE AUTHORIZING THE EXECUTION OF AN AGREEMENT WITH BETA BUSINESS MALL PERTAINING TO FINANCING THE ACQUISITION, CONSTRUCTION IMPROVEMENT AND EQUIPPING OF A MULTI-TENANT COMMERCIAL FACILITY WITHIN THE BOUNDARIES OF THE VILLAGE OF MAYFIELD VILLAGE, OHIO TO BE OWNED BY BETA BUSINESS MALL (OR ITS NOMINEE); AND DECLARING AN EMERGENCY. WHEREAS, the Village of Mayfield Village, Ohio (hereinafter called the "Issuer") by virtue of the laws of the State of Ohio, particularly Chapter 165, Ohio Revised Code, and the authorities therein mentioned, wishes to take the necessary actions for the issuance of revenue bonds, or bonds or notes in anticipation thereof, in the aggregate principal amount now _ estimated to be $4,000,000 for the purpose of providing funds to pay the costs of the acquisition, construction, improvement and equipping of a multi-tenant commercial facility generally described in Schedule 1 to the Agreement to Issue Bonds attached hereto as Exhibit A(herein called the "Project") within the boundaries of the Village of Niayfield Village, Ohio, which Project will be owned by Beta Business Mall, an Ohio general partnership (hereinafter called "Owner") or its nominee; WHEREAS, the subject matter of this ordinance constitutes an emergency in that the same provides for the- preservation of the public peace, safety and welfare of the citizens of the Village of Mayfield Village, Ohio. NOW, THEREFORE, BE IT ORDAINED by the Council of the Village of Mayfield Village, Ohio that: SFCTION l: The Council of the Village of Mayfield Village (this "Councii"), in the State of Ohio does hereby find and determine that: (a) The Project will be a"project" T.aithin tne meaning of tnat term as defined in Section 165.01, Ohio Revised Code; and