2022-073 Ordinance - Laserfiche WebLink

Home Browse Search

g. To mortgage, pledge, or otherwise encumber any property acquired pursuant to the powers contained in subparagraphs d, c, or i. of this section; h. "I o make application to any applicable statewide economic development entity for insurance or advance commitments for insurance or mortgage payments required by the first mortgage on any Project for which the Corporation has loaned its funds or upon which the Corporation has borrowed funds, and to make assignments of insured mortgages and provide other forms of security in accordance with the provision of Section 122.451, Ohio Revised Code; i. To solicit, receive and use donations or commitments of money or other property of any kind whatsoever from private corporations, firms, or organizations-. j. To serve as an agent for grant applications and for the administration ofgrants. k. To do all acts and things necessary or convenient to carry out the powers especially created in Chapter 1724 of the Ohio Revised Codc. 11. All revenue bonds issued by the Corporation under Sections 1724.02 and 1724.10 of the Ohio Revised Code are lawful investments of banks, savings banks, building and loan and savings and loan associations, deposit guarantee associations, trust companies, fiduciaries, trustees-, or other officers having charge of sinking or bond retirement funds of county corporations and other subdivision of the state, and of domestic insurance companies notwithstanding Section 3907.14 and 3925.08 of the Ohio Revised Code. 12. The Corporation is hereby authorized to sell or to lease any lands or interest in the lands owned by the City determined from time to time by the City Council not to be required by the City for its purposes, for uses determined by the City Council as those that will promote the welfare of the people of the City, stabilize the economy, provide employment, and assist in the development of industrial, commercial, distribution and research activities to the benefit of the people of the City and will provide additional opportunities for their gainful employment. The City Council shall specify the consideration for such sale or lease and any other terns Ihercof. Any determination made by the City Council under this paragraph of the Agreement shall be conclusive. The Corporation acting through its officers and on behalf and as agent of the City shall execute the necessary instruments, including deeds conveying the title of the City or leases, to accomplish such sale or lease. Such conveyance or lease may be made without advertising and receipt of bids. A copy of this Agreement shall be recorded with the office of the County Recorder of Cuyahoga County, Ohio, prior to the recording of a deed or lease executed pursuant to this Agreement.