2003-157 Ordinance - Laserfiche WebLink

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A. ? Ordinance No. 2003-157 NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF NORTH OLMSTED, COUNTY OF CUYAHOGA, AND STATE OF OHIO: SECTION 1: That the real property owned by the City of North Olmsted ("City") and located at 27425 Butternut Ridge Road is not needed for municipal purposes and is directed to be sold to the Board of Education of the North Olmsted City School District ("School District") upon the following terms and conditions: A. Single lump sum payment of Five Hundred Fifty Thousand Dollars ($550,000.00) by the School District to the City; B. Execution by the City and the School District of a mutual settlement and release which shall provide for the School District to release the City from any and all liability arising out of, or in any way relating to, a.ny and all sales of fuel made by the City to the School District, its schools, its officials, and/or its other representatives and agents, pr-ier- , 4939 from the beginning of time to the present. Said mutual settlement and release shall further provide for the imposition of a one-year moratorium prohibiting increases in the administrative fee portion of the price that the City presently charges for the fuel it sells to the School District, and that, during said one year moratorium period, the City and School District shall negotiate in good faith a written corrtract providing comprehensively for the price or prices the City shall charge the School District for fuel sold; for the length of term for such contract; and for such other terms and conditions relating to the sales of fuel by the City to the School District as the parties determine to be just and reasonable; C. The sale of the real property shall be subject to the existing lease between the City of North Olmsted and the Cuyahoga County Public Library, to the extent that said lease may remain in existence at the time the contract of sale and/or the deed of conveyance are executed; and D. Such other terms and conditions, not in conflict or inconsistent with the foregoing provisions, as may be approved by the City and the School District. The City's approval of such other terms and conditions shall be conclusively evidenced by the joint approval of such additional terms and conditions by the Mayor and the Director of Law. SECTION 2: That the Mayor be and he hereby is authorized to execute a contract for said sale of the real property located at 27425 Butternut Ridge Road in accordance with the provisions set forth in Section 1 above; further to execute a mutual settlement and release in accordance with the provisions set forth in Section 1 above; and further to execute such other and additional documents and instruments of conveyance as are reasonable and necessary in order to effectuate this transaction, and all in a form and substance that is approved by the Director of Law. 2