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RESOLUTION NO. 2008-13 INTRODUCED BY: Mayor Rinker and Council as a Whole AN EMERGENCY RESOLUTION PROVIDING FOR THE CREATION OF A "RALEIGH DRIVE/CULVERT #9 CAPITAL IMPROVEMENT PROJECT FUND" AND AUTHORIZING THE DEPOSIT OF FUNDS INTO SUCH ACCOUNT WHEREAS, traffic along Wilson Mills Road at the intersections of Beta Drive and Raleigh has increased dramatically in the past two decades; and WHEREAS, Culvert #9 that runs just west of these intersections and below Wilson Mills Road has been in critical need of replacement for several years; and WHEREAS, Mayfield Village and the Cuyahoga County Engineer desire to have Raleigh Drive realigned and Culvert #9 reconstructed; and WHEREAS, the Ohio Public Works Commission will provide $250,000 in grants and $400,000 in interest free loans and the Cuyahoga County Engineer will contribute $250,000 to the project. NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF HAYFIELD VILLAGE, OHIO, THAT: SECTION 1. That there is hereby and herein created a fund to be known as the "Raleigh Drive/Culvert #9 Capital Improvement Project Fund". The sources of monies deposited into said fund shall be the grants, loans and contributions outlined above and equity transfers from the Street Construction, Maintenance and Repair Fund and the Infrastructure Improvement Fund. SECTION 2. The Director of Finance is authorized and directed to establish said fund, and to deposit monies therein as indicated by Council for the Raleigh Drive/Culvert #9 Capital Improvement Project Fund and make application for the approval of the creation of the Fund pursuant to the provisions of Ohio Revised Code Section 5705.12. SECTION 3. The Council finds and determines that all formal actions of the Council relating to the adoption of this Resolution have been taken at open meetings of this Council; and that deliberations of this Council and of its committees, resulting in such formal action, took place in meetings open to the public in compliance with all statutory requirements including the requirements of Section 121.22 of the Ohio Revised Code.