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CITY OF NORTH OLMSTED RESOLUTION NO. 2005 —147 BY: Mayor O'Grady and All Members of Council: A RESOLUTION PROCLAIMING SUPPORT OF STATE ISSUE 1 AMENDING THE OHIO CONSTITUTION TO AUTHORIZE THE ISSUANCE OF GENERAL OBLIGATIONS OF THE STATE TO FINANCE LOCAL GOVERNMENT PUBLIC INFRASTRUCTURE CAPITAL IMPROVEMENTS, RESEARCH AND DEVELOPMENT, AND THE DEVELOPMENT OF CERTAIN SITES AND FACILITIES IN OHIO, AND TO EXPAND STATE AND LOCAL GOVERNMENT AUTHORITY REGARDING ECONOMIC DEVELOPMENT, AND DECLARING AN EMERGENCY WHEREAS, Issue 1 will create and preserve jobs, enhance education opportunities, and improve the quality of life and general well being of people and businesses in all areas of Ohio by improving local government public infrastructure, expanding Ohio's research capabilities to promote product innovation, development and commercialization, and prepare economic development sites and facilities in Ohio; and WHEREAS, Issue 1 will authorize the State of Ohio to issue up to $1.35 billion in bonds to pay for or help local governments pay for the cost of public infrastructure capital improvements of local governments, including roads and bridges, wastewater treatment systems, water supply systems, solid waste disposal facilities, storm water and sanitary collection, storage and treatment facilities; and WHEREAS, Issue 1 will authorize the State of Ohio to issue up to $500 million in bonds to provide financial assistance for research and development in support of Ohio industry, commerce, and business, including research and product innovation, development, and commercialization; and WHEREAS, Issue 1 will authorize the State of Ohio to issue up to $150 million in bonds to pay costs, or assist others in the payment of costs of projects for the purpose of developing sites and facilities in Ohio for and in support of industry, commerce, distribution, and research and development, including constructing and improving facilities, site preparation and cleanup, the acquisition of real estate, and providing public infrastructure improvements; and WHEREAS, Issue 1 will foster job creation through infrastructure projects, job ready sites and creating new products and services based on science and technology research and development ensuring Ohio's ability to create and compete for jobs, now and in the future. NOW THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF NORTH OLMSTED, CUYAHOGA COUNTY, AND STATE OF OHIO: SECTION 1: That the City of North Olmsted supports State Issue 1 amending the Ohio Constitution to authorize the issuance of general obligations of the State to finance local government public infrastructure capital improvements, research and development, and the development of certain sites and facilities in Ohio, and to expand State and local government authority regarding economic development.