Loading...
HomeMy WebLinkAbout64-80 Ordinance , , . < September 8, 1980 ORDINANCE NO. ('4..'0 The Village Council of the Village of Dublin, Ohio met in regular session on this date with the following members present: ~. Cho.M~tr~ :r, \...e&.4>\' 1 y. rr. ~~~e C. fYIl1l~ 0 ~ e...cl\~t. "8. mau.ref" :r. ~ hQ.t...A,)..~ tt\r. 1V\.A.."",l offered the following ordinance and moved the adoptIon of the same, which was duly seconded by ~ r.. \... eA.."H , . ORDINANCE AN ORDINANCE AUTHORIZING THE VILLAGE OF DOBLIN, OHIO TO ENTER INTO AN AGREEMENT WITH AVERY LAKE INVESTMENTS, AN OHIO GENERAL PARTNERSHIP, AUTHORIZING SUCH PARTNERSHIP TO COMMENCE THE ACQUISITION, CONSTRUCTION, IMPROVEMENT, FURNISHING 1 AND EQUIPPING OF A PROJECT WITHIN THE BOUNDARIES OF THE VILLAGE TO BE FINANCED THROUGH THE ISSUANCE AND SALE OF INDUS- TRIAL DEVELOPMENT FIRST MORTGAGE REVENUE BONDS OF THE VILLAGE; EMPLOYING BOND COUNSEL; AND DECLARING AN EMERGENCY. . WHEREAS, the Village of Dublin, Ohio (the "Issuer"), by virtue of the laws of the State of Ohio, particularly Chapter 165, Ohio Revised Code, and the authorities therein mentioned, wishes to take the necessary actions for the issuance of revenue bonds in an aggregate principal amount of $470,000 for the purpose of financing the costs of the acquisition, construction, improvement, furnishing and equipping of real and personal property comprising a new commercial office building to be owned by Avery Lake Invest- ments, an Ohio general partnership (the "Company"), and . leased to Dodge-Irelan, Inc. and Dublin Building Systems Co., both Ohio corporations, and used by said corporations as their corporate offices and for related purposes (the "Project"); and . ~.~ . , . , WHEREAS, this Village Council has considered the matters set forth in the Agreement to Issue Bonds of even date herewith in the form attached hereto and marked Exhibit A; NOW, THEREFORE, BE IT ORDAINED by the Village Council of the Village of Dublin, State of Ohio: Section 1. This Village Council does hereby find and determine that: I (a) The Project will be a "project" within the meaning of that term as defined in Section 165.01, Ohio Revised Code; and (b) The Project is consistent with the purposes of Section 13 of Article VIII, Ohio Constitution, to create or preserve jobs and employment opportunities and to improve the economic welfare of the people of the Issuer and the State of Ohio. Section 2. The Agreement to Issue Bonds between the Issuer and the Company, in the form attached hereto and marked Exhibit A and incorporated herein by this reference, which Agreement at paragraph numbered 1 provides that the Company is authorized to acquire, construct, improve, furnish and equip the Project, is hereby adopted and approved. Section 3. The Village Manager of the Issuer is hereby authorized and directed to execute said Agreement to Issue Bonds and to take such other actions as may be reasonable, necessary or appropriate in accordance with the provisions thereof. I Section 4. Vorys, Sater, Seymour and Pease of ' Columbus, Ohio, be and hereby are employed as bond counsel to prepare proceedings for and approve the Bonds. The fees and expenses of said bond counsel shall be paid by the Company or from the proceeds of the issuance of the Bonds, and shall in no event be charged to or otherwise be an obligation of this Village Councilor the Issuer. Section 5. It is found and determined that all formal actions of this Village Council concerning and relating to the passage of this ordinance were undertaken in an open meeting of this Village Council, and that all deliberations of this Village Council that resulted in such formal actions were in meetings open to the public in compliance with Section 121.22 of the Ohio Revised Code. Section 6. This ordinance is hereby declared to be an emergency measure the immediate passage of which is necessary for the preservation of the public peace, health -2- ~ , , and safety and for the further reason that this ordinance must be immediately effective in order to eliminate the hazards and expenses to the Issuer and its people resulting in the lack of job opportunities; wherefore, this ordinance shall take effect and be in force immediately upon its passage. The foregoing motion having been put to a vote, the resolution of the roll call was as follows: I Passed this 8th day of September, 1980. M~~:~/ l~L-L Mayor /I I ATTEST: ~1\.~ Cler 0 Village Council I, Marcia Berlin, Clerk 'of the Village Council of the Village of Dublin, Ohio, do hereby certify that the foregoing is a true and correct copy of the .original ordi- nance as passed by the Village Council of the Village of Dublin, Ohio, on September 8, 1980.' ~.)J. r&-.L- Marcia Berlin Clerk of the Village Council Dated: September I, 1980 -3- .-a . . . EXHIBIT A AGREEMENT TO ISSUE BONDS THIS AGREEMEtiT, entered into as of the 8th day of September, 1980, between the VILLAGE OF DUBLIN, OHIO (herein- I after called the "Issuer"), a municipal corporation organized and existing under the Constitution and laws of the State of Ohio, and AVERY LAKE INVESTMENTS (hereinafter called the "Company" ) , an Ohio general partnership, for the purposes of creating or preserving jobs and employment opportunities and improving the economic welfare of the people of the Issuer and the State of Ohio (hereinafter called the "State"), WIT N E SSE T H: WHEREAS, the Company d~sires to acquire, construct, improve, furnish and equip a new commercial office building I to be located within the boundaries of the Issuer, which office building will be leased to DOdge-Irelan, Inc. and Dublin Building Systems Co., both Ohio corporations, and used by said corporations as their corporate offices and for related purposes (the "Project"); and WHEREAS, the Company has evidenced a desire to finance such acquisition, construction, improvement, furnishing and equipping from the proceeds of Industrial Development First Mortgage Revenue Bonds of the Issuer (hereinafter called the "Bonds") issued pursuant to the authority of Article VIII,Section 13, of the Ohio Constitution and ~ . , . , Chapter 165 of the Ohio Revised Code, in an aggregate principal amount of $470,000; and WHEREAS, the Project will create or preserve jobs and employment opportunities for residents of the Issuer and I improve the economic welfare of the Issuer and its people; and WHEREAS, it is the desire of the Issuer that such added jobs and employment opportunities be provided at the earliest possible moment and that the economic improvement produced by the acquisition, construction, improvement, fur- nishing and equipping occur at the earliest possible time; NOW, THEREFORE, in consideration of the foregoing, the Issuer and the Company hereby agree as follows: 1. The Company shall promptly commence the acquisition, construction, improvement, furnishing and equipping of the Project which will provide additional jobs I and employment opportunities and improve the economic welfare of the Issuer and the State, and the Company will provide, or cause to be provided at its own expense, the necessary interim financing to permit such acquisition, construction, improvement, furnishing and equipping to commence promptly. The Company also agrees that upon the issuance of the Bonds of the Issuer it will, at least to the extent financed with the proceeds of Bonds, enter into a lease or loan agreement with the Issuer under which the Company will make rental or loan payments sufficient to pay the principal of and any premium and interest on such Bonds and such additional ~ -")- . , . payments as may be required or provided by law and the bond legislation, to pay all taxes and special assessments, if any, and whatever sums may be requir~~ for operation, mainte- nance and depreciation of the Project. The parties hereto I further agree that the Company shall be reimbursed from the proceeds of the Bonds for the costs incurred directly or indirectly for or in connection with the Project whether such costs shall be incurred prior to, at or after delivery of the Bonds. 2. The Issuer will, subject to the requirements and provisions of law, enact the legislation necessary to authorize the issuance of the Bonds and the execution of such lease or loan agreement on behalf of the Issuer, provided that the Bonds shall not represent or constitute a debt or a pledge of the faith and credit of the Issuer and shall not obligate or pledge any moneys raised by taxation, but the I repayment of the principal of and any premium and interest on the Bonds shall be made solely and only from the rental, loan payments, revenues and other income, charges and moneys derived from the lease, sale, use or other disposition of the Project. The Bonds and accompanying documents shall have such terms as shall be approved by the Company and the Issuer, and the Issuer will deliver the Bonds to the purchaser or purchasers thereof designated by the Company and will cooperate to its fullest extent in consummating the trans- action. ~ -3- - . , . ... . 3. In order to induce the Issuer to execute and deliver this Agreement and ultimately to issue the Bonds as aforesaid, the Company hereby agrees to defend, indemnify and hold the Issuer and any and all officials thereof harmless against any and all loss, cost, expense, claims or I actions arising out of or connected with the issuance of the Bonds as aforesaid and all proceedings relating thereto. The parties hereto agree that the Company is hereby authorized to transfer all of its rights and obligations hereunder to a corporation, partnership, limited partnership or other entity which is a "related person" to the Company, as that term is defined in Section 103(b)(6)(c) of the Internal Revenue Code of 1954, as amended. 4. All wages paid to laborers and mechanics employed on the Project shall be paid at the prevailing rates of wages of laborers and mechanics for the class of II work called for by the Project, which wages shall be determined in accordance with the requirements of Chapter 4115, Ohio Revised Code, for determination of prevailing wage rates, provided that if the Company undertakes, as part of the Project, construction to be performed by its regular bargaining unit employees who are covered under a collective bargaining agreement which was in existence prior to the date of this Agreement, the rate of pay provided under the applicable collective bargaining agreement may be paid to such employees. IN WITNESS WHEREOF, the Issuer, pursuant to an ordinance passed by its Village Council on September 8, ~ -4- ., . ~ . . 1980, has caused this Agreement to be executed by the Village Manager of the Issuer and the Company has caused this Agreement to be executed by all of its partners, as of the day and year first above written. I AVERY LAKE INVESTMENTS VILLAGE OF DUBLIN, OHIO By Robert M. Dodge, partner By Village Manager By Victor D. Irelan, partner By Ralph A. Hewitt, partner I ~.5- ~