82-046 Ordinance - Laserfiche WebLink

Home Browse Search

CITY OF NORTH OLMSTED ORDINANCE N0. 82-46 BY: MR. WILAMOSKY AN ORDINANCE RETAINING THE LEGAL SERVICES OF ARTER AND HADDEN IN CONNECTION INITH LEGAL MATTERS RELATING TO THE ISSUANCE OF BONDS TO FINANCF. A PROJECT PURSUANT TO THE PROVISIONS OF CHAPTER 165 OF THE OHIO REVISED CODE, .AND DECLARINC, AN E21ERGENCY. WHEREAS, the Council of the City of North Olmsted (herein called "Issuer") is authorized pursuant to the laws of Ohio, in- cluding Section 13 of Article VIII o_f the Ohio Constitution and Chapter 165, Ohio Revised Code (the "Act"), to assist in the financing of_ the acc{uisition, construction, installation and eauipping of commercial facilities to be owned by an Ohio limited partnership to be formed by Great Northern Shopping Center, an existing Ohio limited partnership (the "Company") and leased to First National Supermarkets, Inc. for use in a retail food sales operation and related office and administrative functions within the boundaries of the Issuer (the "Project"), and WHEREAS, the Company has requested that the Issuer, acting by and through this Council, as authorized by Section 165.07 (D), Ohio Revised Code ("Revised Code"), issue industrial development revenue bonds pursuant to the Act to assist in the financing of the Project, and WHEREAS, this Council has determined in principle to issue the Issuer's industrial develonment revenue bonds (the "Bonds") pursuant to the provisions of the Act, and WHEREAS, Section 165.02(G), Revised Code, authorizes this Council to retain attorneys at law as are necessary in the judgment of this Council to carry out the provisions of said Chapter 165, and WHEREAS, this Council has determined to obtain the legal ser- vices of the law firm of Arter and Hadden, Cleveland, Ohio, in connection with legal matters relating to the issuance of the Bonds, such legal services to be paid for as herein provided at no expense whatsoever to the taxpayers of the Issuer. NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF NORTH OLMSTED, COUNTY OF CUYAHOGA AND STATE OF OHIO: SECTION 1. That the legal services of the law firm of Arter and Hadden are hereby retained, such legal services to be in the nature of legal advice and recommendations as to the documents and the pro- ceedings in connection with the security, issuance and sale of the Bonds, and the rendering of approving legal opinions with respect to such financing, all pursuant to the provisions of Chapter 165, Re- vised Code. In rendering such legal services, as an independent con- tractor and in an attorney-client relationship, said firm shall not exercise any administrative discretion on behalf of this Council in the formulation of public policy, expenditure of public funds, enforce- ment of laws, rules and regulations of the Issuer, any county, or cities, or of this Council, or the execution of public trusts.