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<br />ORDINANCE NO.
<br />AN ORDINANCE RETAINING LEGAL SERVICES OF AMER,
<br />CUNNINGHAM & BRENNAN CO., L.P.A. RELATING TO THE
<br />FINANCING OF A PROJECT PURSUANT TO THE PROVISIONS
<br />OF CHAPTER 165 OF THE REVISED CODE AND DECLARING
<br />AN EMERGENCY.
<br />WHEREAS, the City of North Olmstead, Ohio acting through
<br />its City Council, is authorized by the laws of Ohio, including
<br />Section 13 of Article VIII of the Ohio Constitution and Chapter
<br />165 of the Revised Code, to issue and sell industrial develop-
<br />ment revenue bonds of the City to finance a"project" within the
<br />meaning of Section 165.01(H), Revised Code, located within the
<br />boundaries of the City; and
<br />WHEREAS, the Council has agreed in principle to issue the
<br />City's industrial development revenue bonds (the "Bonds") in
<br />order to finance such a project (the "Project") pursuant to the
<br />provisions of Chapter 165 to be owned by Fogg-North Olmstead,
<br />Ltd., an Ohio Limited Partnership, its successors, assigns and
<br />_ nominees, if any (the "Borrower"); and
<br />?i WHEREAS, Section 165.02(G), Revised Code, authorizes this
<br />Council to retain attorneys at law as are necessary in the judg-
<br />ment of this Council to carry out the provisions of said Chapter
<br />165; and
<br />WHEREAS, this Council has determined to retain the legal
<br />services of the law firm of Ame r, Cunningham & Brennan Co.,
<br />L.P.A. in connection with legal matters relating to the financ-
<br />ing of the Project, such legal services to be paid for as herein
<br />provided at no expense whatsoever to the taxpayers of this
<br />City;
<br />NOW, THEREFORE, BE IT ORDAINED:
<br />Section 1. That the legal services of the law firm of
<br />Amer, Cunningham & Brennan Co., L.P.A. are
<br />hereby retained, such legal services to be in the nature of
<br />legal advice and recomme ndations as to the docume nts and
<br />the proceedings in connection with the security, issuance
<br />and sale of the Bonds, and the rendering of approving legal
<br />opinions with respect to such financing, all pursuant to
<br />the provisions of Chapter 165, Revised Code. In rendering
<br />such legal services, as an independent contractor and in an
<br />attorney-client relationship, said firm shall not exe rcise
<br />any administrative discretion on behalf of this Council in
<br />the formulation of public policy, expenditure of public
<br />funds, enforcement of laws, rules and regulations of the
<br />State, any county, or cities, or of this Council or the
<br />execution of public trusts.
<br />Section 2. That for such legal services, reasonable
<br />fees, shall be paid said firm and in addi-
<br />tion to such fees, said firm shall be reimbursed for actual
<br />out-of-pocket expenses (including but not limited to long
<br />distance telephone, travel, duplicating expenses and the
<br />1 ike ) incurred in rendering such services. Such fees and
<br />expenses shall be paid solely from the proceeds of the sale
<br />of the Bonds, by the original purchase r of the Bonds as
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