2019-058 Ordinance - Laserfiche WebLink

Home Browse Search

Fiber Ring Appropriation (as defined below) to be calculated by dividing the amount of the Fiber Ring Appropriation by twenty (20) and multiplying the result by 20 minus the number of full years that North Olmsted provided the benefits during the Term. 4. Appropriation administrative fee. The College shall submit to the Controlling Board, a request for the release of Two Hundred Thousand Dollars ($200,000) of the appropriation. One Hundred Ninety Seven Thousand Dollars ($197,000) of the appropriation will be for the City of North Olmsted and Three Thousand Dollars ($3,000) (1.5% of the appropriation) will be for actual administrative costs to the College. The parties anticipate that the appropriated funds will be released by the Controlling Board directly to the College. North Olmsted shall submit invoices and related documentation to the reasonable satisfaction of the College, after which the College shall transfer appropriate amounts to North Olmsted. City of North Olmsted covenants that it shall use the Fiber Ring Appropriation for the construction and installation of the equipment and infrastructure fiber ring pathway, which will be installed underground as part of the infrastructure throughout the City of North Olmsted, and other necessary appurtenances and work incidental thereto. The City of North Olmsted represents and warrants that it owns the property at 5200 Dover Center Road, North Olmsted, OH 44070, and the City has sufficiently insured its facilities and the Project. Use of funds. The North Olmsted Appropriation shall be used only for capital improvements. The City of North Olmsted has adopted a capital construction budget to be implemented in part with the funds contemplated by this Agreement. The planned Project and the costs associated with it are set forth in Exhibit which is attached hereto and hereby incorporated into this Agreement. The City shall not utilize the Appropriation for operational expenses. 7. Use of the facility or equipment by public institution. Each year of the twenty (20) year term, City of North Olmsted shall make the benefits set forth in Exhibit A incorporated and made a part hereof available to College. 8. Competitive bidding. The City of North Olmsted, in connection with the construction work contemplated by the Project and funded by the North Olmsted Fiber Ring Appropriation, shall use competitive bidding procedures equivalent to those as described generally in Chapter 153 of the Ohio Revised Code involving publishing advertisements to seek bids, receiving sealed bids, and awarding contracts to the lowest responsive and responsible bidders. 9. Insurance for facility and hold harmless. The City shall indemnify and hold harmless the College for all costs (including without limitation, attorney fees, and