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... .... .. ..... ... .. .. . . . _...?1 ... ...,-...?.a».?a.,..... <br />BY: Mr. Lind: <br /> <br />CITY OF NORTH OLMSTED <br />ORDINANCE N0. 92-184 <br />AN ORDINANCE AUTHORIZING THE MAYOR AND FINANCE <br />DIRECTOR TO EXECUTE A$2,758,204 PROMISSORY NOTE <br />PAYABLE TO THE OHIO PUBLIC WORKS COMMISSION FOR <br />THE PURPOSE OF WASTEWATER TREATMENT PLANT <br />REHABILITATION. <br />WHEREAS, the Ohio Public Works Commission (OPWC) has <br />approved financial assistance for the Wastewater Treatment <br />Plant rehabilitation project in the form of a twenty year, <br />interest free loan in the amount of $2,758,204, and <br />WHEREAS, a promissory note signed by the Mayor and <br />Finance Director is to evidence this loan; <br />NOW, THEREFORE, BE IT ORDAINED BY THE CITY OF NORTH <br />OLMSTED, COUNTY OF CUYAHOGA AND THE STATE OF OHIO: <br />SECTION 1: That the Mayor and Finance Director, in the <br />name of the City and in their official capacities, are <br />authorized to execute the twenty year promissory note <br />between the City and the Ohio Public Works Commission in the <br />amount of $2,758,204 with interest at an annual rate of 0% <br />for the purpose of partially financing the Wastewater <br />Treatment Plant rehabilitation. <br />SECTION 2: The Clerk of Council is directed to deliver <br />a certified copy of this ordinance to the County Auditor. <br />SECTION 3: This ordinance shall be effective from and <br />after the earliest time permitted by law. <br />PASSED: qf3 <br />ATTEST: <br />/"? c <br />tl a rbara L. Seman, <br />erk of Council <br />APPROVED: <br />s / 9 9? <br />Boyle, <br />? <br />James D. Boehmer, <br />President of Council <br />First Reading: la a-? q Z- <br />Second Reading: a ,?2- <br />Third Reading: 3 <br />Committee• <br />?-- ?