2012-072 Ordinance - Laserfiche WebLink

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obligations or loans are paid in full, and to pay any trustee, administrative and other costs related to servicing the obligations and providing and replenishing a reserve fund and to pay any costs charged by the issuer of the obligations; and (iii) to reimburse the City, or other governmental entity for any funds used to pay costs of the Public Improvements, or to pay interest, principal, or premium, and related costs on any of the aforesaid notes, bonds, loans or other obligations, prior to receipt of Service Payments. The Fund shall remain in existence so long as the Service Payments are collected and used for the aforesaid purposes, after which said Fund shall be dissolved in accordance with said Section 5709.43. Section 5. Pursuant to Section 5709.40 of the Ohio Revised Code, the Clerk of Council is hereby directed to deliver a copy of this Ordinance to the Director of the Department of Development of the State of Ohio within fifteen days after its passage. On or before March 31 of each year that the exemption set forth in Section 2 hereof remains in effect, the Mayor or other authorized officer of this City shall prepare and submit to the Directar of the Department of Development of the State of Ohio the status report required under Section 5709.40 of the Ohio Revised Code. Section 6. This Council finds and determines that all formal actions of this Council and of any of its committees concerning and relating to the passage of this ordinance were taken, and that all deliberations of this Council and of any committees that resulted in those formal actions were held, in meetings open to the public in compliance with the law. Section 7. This ordinance is declared to be an emergency measure necessary for the immediate preservation of the public health, safety and welfare of the City, and for the further reason that this ordinance is required to be immediately effective in order to eliminate existing hazards to vehicular and pedestrian traffic; wherefore, this ordinance shall be in full force and effect immediately upon its passage and approval by the Mayor. Passed: , 2012 Attest: ? VU Azd -?s - A Clerk of Council Approved: !? )/ q ( , 2012 1 ? ?,--- Mayor -3- ``33?- ?? • ?la-i ??I? l?- 3 rg 0't d?? ?? I ?? I? ? a--- (?At1,rtM itzc ; I*akl a_- 1299093.2