79-095 Ordinance - Laserfiche WebLink

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? ARTICLE III Miscellaneous 1. The Municipality may convey ta the Cbrporation lands and ' interest in lands owned by t.ze r-lunicipality and' determined by its legislative authozity not to be required by the Municipality foz i.ts puzposes, and that such conveyance of such land or intezest in land wi.11 promote the welfare of the peaple of the Municipality, stabi.la.ze the economy, pravide employment and assist in the development of industrial, co?nmercial, distribution and research activities to the bene.f_it of the peaple of the Municipality and provide addi.tional opportuniti.es for thei.r gainful employr:ient. The consideration for any such lands and interests in lands so conveyed shall be the fair market value thereof as determined 'oy a quaYified anpxaz.ser, designated and employed by the Municipality, and confirmed by its legislative aathority. The Corporation may also, as agency for such development, acquire from others addi- tional lands or interests in lands and may convey lands or int- erests in land provided, however, that any lands or interests in land the Corporation may so acquire or convey shall be so acquired ar conveyed for uses that will promate the welfare af the peaple of the MunicipaZity, stabilize the econamy, provide employment, and assist in the develapment of industrial, commer- , cial, distxibution and research activitips required for the people, of the Municipality and for their gainful employment. Any convey-? ance ar lease by the Municipality to the Corporation shall be made witnout advertising and receipt of bids. If any lands or ? interests in lands conveyed by the Municipality are sold by the 4 Corporation at a price in excess of the consideration received by ? the Munici.pality .from the Corporation therefor, such excess shall ? be paid to the Municipality after deeucting there.fror_1 the follow- p ing costs o.f acquisition and sale by the Cornoration: taxes, ` assessmentst casts of rnaintenance, casts of imnrovements to the ? land by the Carporation, debt service chaxges of the Corporation ? attributable tp such lands or interests, and a reasonable service ? fee determined by the Cozporation. 2. The Tiunicipalzty shall not be required to make any finan- cial contri.buta.ons to the Corporation and nothing in this Agreerlent and Plan sizall be construed as Dermitting the Corpora- tion to obli.gate the Municipality except as expzessly set forth in this Agreement and Plan. 3. ,A,11 costs of the Corporation shall be paid solely from the funds of the Corporation and the Municipality need not con- tribute any moneys to the Corporation to meet its costs. In no event shall any r.loneys raised by taxation be abligated or pledged fox the nayrnent of any bonds or other obligations issued or gv.ax'antees made pursuant to this Agreement and Plan. 4, Not less than two-fifths of the governing board o.f the Corporation shA11 'ae camprised of appointed or elected officers of the Municipality or other political subdivision designating the Corporation as its agenc,ynuzsuant to Sectian 1724.10 af the Ohio Revised Code. 5. In the event of any voluntary or involuntary dissolution or liquidation of the Corporation, or in the event af failure to zeinstate the Articles of Incarporation of the Corporation aftez cancellation thereof, any remai.ning assets of the Corpora- ti.on shall be paid over and distributed as det6rmined by the governing; body of the Corporation with the approval of the Court af Common Pleas oi the County in which this rluni,ciPality is located, to nne or more poli?ical subdi.visions of the State of Ohi:a fx'om which on the date of the dissolution, liquidation or cancellation of the Articles of the Corporation thexe exists a desi.gnati.on of the Corporation to act as agent for industzial, cor.mezcial, distribution and research developmnet, to be used exclusi.vely £ar designated civic projects or public charitable purposes, -5-