2016-17 Reimburse Storm & Sanitary-Greenwood St

A RESOLUTION DECLARING THE OFFICIAL INTENT AND REASONABLE EXPECTATION OF THE CITY OF MARION ON BEHALF OF THE STATE OF OHIO (THE BORROWER) TO REIMBURSE ITS STORM AND SANITARY SEWER IMPROVEMENT FUNDS FOR THE SOUTH GREENWOOD STREET SEWER REPLACEMENT PROJECT, WITH THE PROCEEDS OF TAX EXEMPT DEBT OF THE STATE OF OHIO

BE IT RESOLVED by the City of Marion on behalf of the State of Ohio that:

 

Section 1.         The City of Marion reasonably expects to receive a reimbursement for the project named South Greenwood Street Sewer Replacement Project CP26T, as set forth in Appendix A of the Project Agreement with the proceeds of bonds to be issued by the State of Ohio.

 

Section 2.         The maximum aggregate principal amount of bonds, other than for costs of issuance, expected to be issued by the State of Ohio for reimbursement to the local subdivision is $125,000.00.

 

Section 3.         The Clerk of the City of Marion is hereby directed to file a copy of this Resolution with the City of Marion for the inspection and examination of all persons interested therein and to deliver a copy of this Resolution to the Ohio Public Works Commission.

 

Section 4.         The City of Marion finds and determines that all formal actions of this city concerning and relating to the adoption of this Resolution were taken in an open meeting of the City of Marion and that all deliberations of this city and any of its committees that resulted in those formal actions were in meetings open to the public, in compliance with all legal requirements.

 

Section 5.         This Resolution shall be in full force and effect from and immediately upon its adoption.

 

Approved:                                                                     ___________________________

                                                                                    Dr. Scot Gray

                                                                                    President of Council

 

____________________________

Mayor Scott Schertzer

 

 

Attest:

 

 

____________________________

Clerk of Council

 

 

Upon roll call on the adoption of the resolution, the vote was as follows:

 

YEAS: 

           

NAYS:

 

 

Resolution adopted: ________________________, 2016.

 

The foregoing is a true and correct excerpt from the minutes of the meeting on _________________, 2016 of the City of Marion of Marion County showing the adoption of the resolution hereinabove set forth.