29-167 Ordinance - Laserfiche WebLink

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_?... . ,.? ...... . , - .. ? - 2 - the new facilities locating or expanding in the CRA or the Zone for which the City approves real or personal property tax exemptions; and WHEREAS, the City has determined that the Agreement between the City and the School District, in the form on file with the Clerk of Counci2 (the "Agreement"), under which the City agrees to share certain municipal income tax revenues derived from the Project to compensate the School District for any loss of property tax revenue resulting from the real and personal property tax exemptions relating to the Project is in the vital and best interest of the City and will improve the health, safety and welfare of the citizens of the City of North Olmsted; NOW, THEREFORE, BE IT ORDAINED by the Council of the City of North Olmsted, Cuyahoga County, Ohio, that: Section 1. The Mayor, on behalf of the City, is hereby authorized to enter into the Agreement with the School District substantially in the form of the Agreement on file with the Clerk of Council, together with such revisions to the Agreement as are approved by the Mayor and Director of Law. The Mayor, Director of Law and other appropriate City officials are further authorized to execute, certify or furnish such other instruments, and do such other things, as are necessary for and incidental to carrying out the transactions contem- plated in the Agreement. Section 2. This Council finds and determines that all formal actions of this Council concerning and relating to the passage of this ordinance were taken in an open meeting of this Council and that all deliberations of this Council and of any committees that resulted in those formal actions were in meetings open to the public in compliance with the law. Section 3. This ordinance shall be in full force and effect immediately upon the earliest date permitted by law. Passed: 1992 At t e s t: Clerk of Counc' Approved: , /-C r , 1992 a r President of Council ' «fl7Aa _