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<br />CITY OF NORTH OLMSTFn
<br />ORDINANCF NO. 81 - 77
<br />BY . ? -
<br />74
<br />AN ORDINANCF AtJTHORIZING THE EXFCiJTION OT'
<br />AN AMFND?4F_NT TO AN AGREFM?;NT WITH W.F,ST SHORF
<br />CABLE TV, AN OHIO LIMITED pARTNFRSHIP, n,F,R-
<br />TAINING TO THE FINANCINr OF THF COSTS OF
<br />ACQU I S I T ION , CONSTRUCT I ON , I'11PROVEMENT AND
<br />EOUIpPING OF A COrMERCTAL FACILITY. FOR iJSE AS
<br />A CABLE TFLEVISION SYSTFTR ?^IITHIN THF. BOUND.ARIES
<br />OF THF. CITY OF T1ORTH OLMS'!'FD, OHIO, TO BF OWNED
<br />BY ?ArFST SHORE CABLE TV, RATIFYINq AND CONFIRr![ING
<br />SAID AGR_F,FMFNT AS AMFNDED, AND DECLARIN(-, AN
<br />FNIERriENCY.
<br />WHFREAS, by Ordinance Number 80 -11 0, dul.y adont ed on
<br />October 7, 1980, the Council of_ the city of North Olmsted (the
<br />"Issuer") authorized the execution of an Agreement to Issue Bonds
<br />(the "Agreement") by and between the Issuer and ti'7est Shore Cable TV
<br />(the "Owner") in order to finance the acquisition, construction,
<br />imnrovement, ancl ec{uipning of a commercial facility (the "project");
<br />and
<br />IVHEREAS, it is deemed necessarv to amend the Agreement dated
<br />October 7, 1980, in order to increase the amount of_ said Bonds f_rom
<br />$1,500,000 to $3,000,000 to £inance the project, and to ratify and
<br />con£irm said A;reement as amended; and
<br />?aHEREAS, the Issuer, by virtue of the laws o£ the State of
<br />Ohio, particularly Chapter 165, Ohio Revised Code, including amend-
<br />ments thereto included in Amender_l Substitute Senate Bill No. 104 of
<br />the lllth General .Assemhly, and the authorities therein mentioned,
<br />wishes to take the necessary actions for the issuance of revenue
<br />bonds in the a,greQate nrincinal amount now estimated not to exceed
<br />$3,000,000 for the nurnose of £inanci.ns; the acquisition, construction,
<br />imnrovement and equinning of a commercial facility for use as a cable
<br />television system within the boundaries of the City of North Olmsted,
<br />Ohio (herein calleci the "?'roject"), which project will be owned by
<br />West Shore Cable TV, an Ohio limited -partnershi? (herein called the
<br />"Owner").
<br />NOIU, THFR.,FORIF, RE IT ORPAINF,LI hy the Council of the City of
<br />North Olmsted, in the State of Ohio:
<br />SFCTION 1. In order to nrovide funds to pav costs of this
<br />Project-t-Fis-C-ouncil hereby agrees to authorize and issue revenue
<br />bonds of the Issuer nursuant to Chapter 165, Ohio Revised Code, unon
<br />the terms nrovided in the £orm of the _Amended Agreement to Issue Bonds
<br />by and between the Issuer and the Owner, attached hereto as Fxhibit .A,
<br />which Agreement, as amended, is hereby ratified and confirmed. The
<br />Mayor is hereby authorized and directeri to execute such Amended
<br />Agreement substantially in such form with such changes as are not
<br />adverse to the Issuer as he mav annrove, such execution being con-
<br />clusive evidence of anproval of_ any such changes.
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