81-144 Ordinance - Laserfiche WebLink

Home Browse Search

.r.? Issuer having responsibility for issuing the Project Bonds is authorized and directed, alone or in conjunction with any of the foregoing or with Sny other officer, employee, consultant or agent of the Issuer or the Company to give a certificate as to the Issuer's reasonable expecta- tions, as of the date of issue, regarding the amount and use of the proceeds of the Project Bonds, which certificate shall set forth (in brief and summary terms) the facts and estimates on which the Issuer's reasonable expectations as to future events are based and state that, to the best of the knowledge and belief of the certifying officer, the Issuer's expectations are reasonable. The Clerk of the Legislative Authority or other appropriate officer of the Issuer, shall furnish to the Original Purchaser atrue transcript of proceedings, certified by said Clerk or officer, of all proceedings had with reference to the issuance of the Project Bonds along with such information from the records as is necessary to determine the regularity and validity of the issuance of said Bonds. (j) Prevailing Wage Rates. All wages paid to laborers and -mechanics employed with respect to the Project shall be paid at the prevailing rates of wages of laborers and mechanics for the class of work called for by the Project, which wages shall be determined in accordance with the requirements of Chapter 4115 of the Ohio Revised Code, for determination of prevailing wage rates; provided that, if the Company undertakes, as a part of the Project, construction to be perform- ed by its regular bargaining unit employees who are covered under a collective bargaining agreement which was in existence prior to the date of the action of the Issuer authorizing this Agreement, the rate of pay provided under the applicable collective bargaining agreement may be paid to such employees. To the extent required by Section 4115.032 of the Ohio Revised Code, the Company shall comply, and shall require compliance by all contractors or subcontractors working on the Project, with all applicable requirements of Sections 4115.03 through 4115.16 of the Ohio Revised Code, including, without implied limitation, obtaining or causing to be obtained from the Ohio Department of Industrial Rela- tions ("Department") its determination of the prevailing rates of wages to be paid for the class of work called for by the Project and requesting it to designate a prevailing wage coordinator ("Coordinator") for the Project, pursuant to Section 4115.032 of the Ohio Revised Code. Prior to issuance of the Bonds, the Company shall be required to provide the Issuer with evidence that it has complied with the foregoing agreements. In the event of failure or refusal by the Department to designate a Coordinator for the Project within thirty days of receipt of such re- quest, the Issuer shall designate one of its employees to act as the interim Coordinator for the Project until the Department designates a Coordinator, and the'cost of such employee's services, based upon the time of such employee expended in performing such services at his or her usual rate of compensation, shall upon demand be reimbursed to the Issuer by the Company. Section 11. Federal Tax Election. The Issuer hereby elects to have the limitation on capital expenditures specified in Section 103(b)(6)(D) of the Internal Revenue Code of 1954 applied to the Bonds BR-19