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? <br />CITY aF NORTH OLMSTED <br />QRDINANCE DTp , 9 2- 80 <br />BY• MAYOR ED BOYLE <br />AN ORDINANCE AppRaVING TIIE EXECUTION OF AN ENTERPRISE ZpNE <br />AGREEMENT AND AECLARING AN EMERGENCY <br />WFiEREAS, this Council, pursuant to Ordinance No. 92-22 requested <br />the designation of certain of the territory of the City of Narth <br />Ol.msted, Ohia (the "City) as an Urban Jobs and Entexprise Zone (the <br />nLnterprise Zone") : and <br />WHEREAS, the Baard of County Commissioners of the County of <br />Cuyahoga (the "County"), adopted a resalution on May 5, 1992 <br />designating such area as an Enterprise Zone pursuant to Sections <br />5709.61 to .66, zrYClusive, of the Ohio Revised Code (the "Act"} : <br />and <br />WHEREAS, effective ,Tune g. 1992, the Director of Development of <br />the State of ahio Gertified the Eriterprise Zone as an Urban Jobs <br />and Enterprise Zone under the Act; and <br />WHEREAS, Moen Inoorporated, a Delawa,re carporatian (the "Company'+) , <br />will submit an application (the "Application") to the county for <br />tax exemption for the project described in such Application; and <br />WHEREAS, the City desires to approve the execution of an Enterprise <br />Zone Agreement (the "Agreement"), a copy of which is attached <br />hereto as EXhibit Ar among the City, the County and the Company in <br />order to induce the Company to undertake the Project at the Praject <br />Site (as defined i.n the Agreement). <br />N'QW, THEREFORE, BE IT 4RDAINED BY THE CQIINCIL OF THE CITY OF NQRTH <br />ULMSTEp, OHIO AS FOLLpWS; <br />SE DN . The Mayor of the City is hereby authorized and <br />for and in the name and on behalf of the City, to execute and <br />deliver, the Agreement in substantially the form attached hereto <br />as Exhibit A. The form of the pigreement is approved with chartges <br />therein not incQnsistent with this drdinance and nat substantially <br />adverse to the City. The apgroval of those changes as flot bexng <br />substantially adverse to the City shall be canc].usivel.y determined <br />by the execution of the Agreement by the Mayox. <br />SEC ON 2. This prdinance shall be and the same is hereby <br />declared to be an entergenCy measure necessary for the immediate <br />pxeservation of the pu,blic peace, health, safety and welfare of the <br />City and shall be in full farGe and effect at the earlYest time <br />Permltted by law.