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CITY OF NORTH OLMSTED RESOLUTION 2005 — 82 BY: Mayor and all of Council A RESOLUTION SUPPORTING THE RENEWAL OF THE STATE CAPITAL IMPROVEMENTS PROGRAM (ISSUE 2), AND DECLARING AN EMERGENCY WHEREAS, the State Capital Improvements Program was created in 1987 following the passage of State Issue 2 which amended Section 2k, Article VIII of the Ohio Constitution to permit the State to use its general fund as a revenue stream to support debt and issue up to $120 million in bonds each year to provide financial assistance to local communities to improve their basic infrastructure; and WHEREAS, the legislature created the Ohio Public Works Commission to distribute the proceeds of the bonds and established nineteen local District Public Works Integrating Committees to recommend projects to the Ohio Public Works Commission for funding; and WHEREAS, in 1995 Ohio voters approved an amendment to Section M, Article VIII of the Ohio Constitution to re- authorize the State Capital Improvements Program for another ten years; and WHEREAS, the State Capital Improvements Program has greatly improved the local infrastructure around the State by distributing nearly $2.3 billion in financial assistance; and WHEREAS, since its inception the State Capital Improvements Program has provided more than $450 million to Cuyahoga County local governments to improve more than $800 million in local infrastructure; and WHEREAS, resolutions have been introduced in the Ohio House of Representative and the Ohio Senate to extend the State Capital Improvements Program for another ten years permitting bonding authority for $120 million annually; and WHEREAS, the State Capital Improvements Program is a critical funding source for local communities by providing needed assistance to repair and rehabilitate infrastructure, the physical framework that supports and sustains economic activity, and provides needed jobs in the construction related industries. NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF NORTH OLMS TED, CUYAHOGA COUNTY, AND STATE OF OHIO: SECTION 1: That the Mayor and Council of the City of North Olmsted consider the improvement of the State's infrastructure to be a priority and supports the renewal of the State Capital Improvements Program for another ten years and to issue $120 million in bonds annually.