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• < ?. <br />BY: t•1r. Wilamosky <br />CITY OF NORTH OLMSTEa <br />ORDINANCE N0. 85 - 9 <br />AN ORDINANCE AUTHORIZING EXECUTION OF AN AGREEMENT WITH <br />CARRIAGE CARPET COMPANY, AN OHIO CORpORATION, WHEREB Y THE <br />CITY OF NORTH OLMSTED, OHIO AGREES TO I5SUE INDUSTRIAL <br />DEVELOPMENT REVENUE BONDS ON BEHALF OF CARRIAGE CARPET <br />COMPANY FOR FINANCING OF THE CONSTRUCTION, INSTALLATION AND <br />EQUIPPING OF A COMMERCIAL FACILITY TO BE LOCATED WITHIN THE <br />CITY OF NORTH OLMSTED, OHIO AND DECLARING AN EMERGENCY. <br />WHEREAS, Carriage Carpet Company, an Ohio corporation <br />(the "Borrower"), has requested that the City of North Olmsted, <br />Ohio (the "City") enter into an agreement in the form attached <br />hereto as Exhibit A and incorporated herein by this reference <br />(the "Agreement"); and <br />WHEREAS, each of the recitals and facts set forth in <br />the preambles thereof are approved by this Council. <br />BE IT ORDAINED BY THE COUNCIL OF THE CITY OF NORTH <br />OLMSTED, OHIO: <br />Section 1. Agreement Authorized. That the Agreement <br />be approved and that the Mayor and the City Auditor be and are <br />hereby authorized to execute the Agreement on behalf of the <br />City, and this Council hereby finds and determines the recitals <br />and facts set forth in the preambles to the Agreement. <br />Section 2. Sunshine Law. This Council hereby finds <br />and determines that all formal actions relative to the adoption <br />of this ordinance were taken in an open meeting of this <br />Council, and that all deliberations of this Council and of its <br />committees, if any, which resulted in formal action, were taken