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C375003/01
<br />. •..r ,,.,?
<br />CITY OF NORTH OLMSTED
<br />ORDINANCE N0. ?3 --. f eI6
<br />BY : 1. . /J. `
<br />AN ORDINANCE RETAINING THE LEGAL SERVICES OF
<br />ARTER AND HADDEN IN CONNECTION WITH LEGAL
<br />MATTERS RELATING TO THE ISSUANCE OF BONDS TO
<br />FINANCE A PROJECT PURSUANT TO THE PROVISIONS
<br />OF CHAPTER 165 OF THE OHIO REVISED CODE, AND
<br />DECLARING AN EMERGENCY
<br />WHEREAS, the Council of the City of North Olmsted
<br />{herein called "Issuer"} is authorized pursuant to the laws
<br />of Ohio, including Section 13 of Article VIII of the Ohio
<br />Constitution and Chapter 165, Ohio Revised Code (the "Act"),
<br />to assist in the financing of the acquisition, construction,
<br />installation and equipping of commercial facilities to be
<br />owned by an Ohio limited partnership to be formea by Fair-
<br />view Enterprises, Inc., an existing Ohio corporation (the
<br />"Company") and leased to various physicians and hospital
<br />tenants for use as a medical office building within the
<br />boundaries of the Issuer (the "Project"), and
<br />WHEREAS, the Company has requested that the Issuer,
<br />acting by and through this Council, as authorized by Section
<br />165.07(D), Ohio Revised Code ("Revised Code"), issue indus-
<br />trial development revenue bonds pursuant to the Act to
<br />assist in the financing of the Project, and
<br />WHEREAS, this Council has determined in principle to
<br />issue the Issuer's industrial development revenue bonds (the
<br />"Bonds") pursuant to the provisions of the Act, and
<br />WHEKEAS, Section 165.02(G), Revised Code, authorizes
<br />this Council to retain attorneys at law as are necessary in
<br />the judgment of this Council to carry out the provisions of
<br />said Chapter 165, and
<br />WHEREAS, this Council has determined to obtain the
<br />legal services of the law firm of Arter and Hadden, Cleve-
<br />land, Ohio, in connection with legal matters relating to the
<br />issuance of the Bonds, such legal services to be paid for as
<br />herein provided at no expense whatsoever to the taxpayers of
<br />the Issuer.
<br />NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE
<br />CITY OF NORTH OLMSTED, COUNTY OF CUYAHOGA AND STATE OF OHIO:
<br />SECTION 1. That the legal services of the law firm of
<br />Arter and Hadden are hereby retained, such legal services to
<br />be in the nature of legal adeice and recommendations as to
<br />the documents and the proceedings in connection with the
<br />security, issuance and sale of the Bonds, and the rendering
<br />of approving legal opinions with respect to such financing,
<br />all pursuant to the provisions of Chapter 165, Revised Code.
<br />In rendering such legal services, as an independent contrac-
<br />tor and in an attorney-client relationship, said firm shall
<br />not exercise any administrative discretion on behalf of this
<br />Council in the formulation of public policy, expenditure of
<br />oublic funds, enforcement of laws, rules and regulations of
<br />the Issuer, any county, or cities, or of this Council, or
<br />the execution of public trusts.
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