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RESOLUTION NO. 2005-19 <br />INTRODUCED BY: Mayor Rinker and Council as a Whole <br />AN EMERGENCY RESOLUTION <br />AMENDING THE OHIO CONSTITUTION TO AUTHORIZE THE ISSUANCE OF <br />GENERAL OBLIGATIONS OF THE STATE TO FINANCE LOCAL <br />GOVERNMENT PUBLIC INFRASTRUCTURE CAPITAL IMPROVEMENTS, <br />RESEARCH AND DEVELOPMENT, AND THE DEVELOPMENT OF CERTAIN <br />SITES AND FACILITIES IN OHIO, AND TO EXPAND STATE AND LOCAL <br />GOVERNMENT AUTHORITY REGARDING ECONOMIC DEVELOPMENT <br />WHEREAS, Issue 1 will create and preserve jobs, enhance education <br />opportunities, and improve the quality of life and general well-being of people and <br />businesses in all areas of Ohio by improving local government public <br />infrastructure, expanding Ohio's research capabilities to promote product <br />innovation, development and commercialization, and prepare economic <br />development sites and facilities in Ohio; and <br />WHEREAS, Issue 1 will authorize the State of Ohio to issue up to $1.35 <br />billion in bonds to pay for or help local governments pay for the cost of public <br />infrastructure capital improvements of local governments, including roads and <br />bridges, wastewater treatment systems, water supply systems, solid waste <br />disposal facilities, storm water and sanitary collection, storage and treatment <br />facilities; and <br />WHEREAS, Issue 1 will authorize the State of Ohio to issue up to $500 <br />million in bonds to provide financial assistance for research and development in <br />support of Ohio industry, commerce, and business, including research and product <br />innovation, development, and commercialization; and <br />WHEREAS, Issue 1 will authorize the State of Ohio to issue up to $150 <br />million in bonds to pay costs, or assist other in the payment of costs of projects for <br />the purpose of developing sites and facilities in Ohio for and in support of industry, <br />commerce, distribution, and research and development, including constructing and <br />improving facilities, site preparation and cleanup, the acquisition of real estate, and <br />providing public infrastructure improvements; and <br />WHEREAS, Issue 1 will foster job creation through infrastructure projects, <br />job ready sites and creating new products and services based on science and <br />technology research and development ensuring Ohio's ability to create and <br />compete for jobs, now and in the future; <br />NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF MAYFIELD <br />VILLAGE, OHIO, THAT: <br />i <br />