61-05 Ordinance RECORD OF ORDINANCES
Dayton Legal Blank. Inc. _ Form No. 30043
61-OS
~I Ordinance No. Passed 20
i
AN ORDINANCE AUTHORIZING THE PROVISION OF
ECONOMIC DEVELOPMENT INCENTIVES TO SMITHS-
MEDICAL TO INDUCE THE CREATION AND EXPANSION OF
THE SMITHS-MEDICAL SHARED SERVICE CENTER AND
I
PANSION OF
E RETENTION AND EX
WORKFORCE AND TH
THE EXISTING MEDEX, INC. OPERATION AND
WORKFORCE WITHIN THE CITY OF DUBLIN, AND
AUTHORIZING THE EXECUTION OF AN ECONOMIC
DEVELOPMENT AGREEMENT.
WHEREAS, consistent with its Economic Development Strategy approved by Dublin
dated strate
une 20 1994 and the u
Crty Council Resolution No. 07-94 adopted on J p gY
approved by Dublin City Council Resolution No. 30-04 adopted on July 6, 2004, the City
desires to encourage commercial office and retail development and provide for the
retention and creation of employment opportunities within the City; and
WHEREAS, based on the results of Smiths-Medical's recent acquisition of Medex, Inc.
« s and induced b and in
need
rkforce
xamination of wo
rehensive e , Y
(Medex) and comp
reliance on the economic development incentives provided in this Agreement, Smiths-
Medical is desirous of retaining its existing Medex workforce of 413 employees within
I' the City, and expanding its workforce by creating the Smiths-Medical Shared Services
Center to include a total of 125 new jobs in the City; and
WHEREAS, this Council has determined to offer additional economic development
incentives, the terms of which are set forth in a substantially final form of Economic
Development Agreement presently on file in the office of the Clerk of Council, to induce
its o erations and workforce within the Cit , to create
x and
further e Y
miths-Medical to
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p
additional jobs and employment opportunities and to improve the economic welfare of the
people of the State of Ohio and the City, all as authorized in Article VIII, Section 13 of
the Ohio Constitution; and
WHEREAS, this Council finds that it is in the best interest of the City to provide those
economic development incentives to induce Smiths-Medical to expand its operations
and workforce within the City and to provide for the execution and delivery of that
Economic Development Agreement with Smiths-Medical;
NOW, THEREFORE, BE IT ORDAINED b the Council of the City of Dublin,
Franklin, Union and Delaware Counties, Ohio, of the elected members
concumng, that:
Section 1. The Economic Development Agreement by and between the City and Smiths-
Medical, in the form presently on file with the Clerk of Council, providing for, among
other things, the provision of incentives to Smiths-Medical in consideration for Smiths-
Medical's agreement to expand its operations and workforce within the City, is hereby
a roved and authorized with chan es therein not inconsistent with this Ordinance and
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not substantially adverse to this City and which shall be approved by the Crty Manager
and Director of Finance. The City Manager and Director of Finance, for and in the name
of this City, are hereby authorized to execute that Economic Development Agreement,
provided further that the approval of changes thereto by those officials, and their character
as not being substantially adverse to the City, shall be evidenced conclusively by their
execution thereof. This Council further authorizes the City Manager and the Director of
Finance, for and in the name of the City, to execute any amendments to the Economic
Development Agreement, which amendments are not inconsistent with this Ordinance and
not substantially adverse to this City.
RECORD OF ORDINANCES
D~wton Lcg+I Blank [nc Form No. 30043
Pa e 2
Ordinance No. 61-0$ Passed g20
Section 2. This Council further hereby authorizes and directs the City Manager, the Clerk
of Council, the Director of Law, the Director of Finance, or other appropriate officers of
the City to prepare and sign all agreements and instruments and to take any other actions
as maybe appropriate to implement this Ordinance.
Section 3. This Council finds and determines that all formal actions of this Council
concerning and relating to the passage of this Ordinance were taken in an open meeting of
this Council and that all deliberations of this Council that resulted in those formal actions
were in meetings open to the public in compliance with the law.
Section 4. This Ordinance shall be in full force and effect on the earliest date permitted
by law.
Signed:
Mayor -Presiding Officer
Attest:
Clerk of Council
Passed: ~)C.T'O~c°/ l7 , 2005
Effective: ~ d U ~h-tbC/ ~~r , 2005
I hereby certify that copies of this
Ordinance/Resolution were posted in the
City of Dublin in accordance with Section
731.25 of the Ohio Revised Code.
D ty Clerk of Council, Dublin, Ohio
Economic Development
5800 Shier Rings Road, Dublin, Ohio 43016-1236
CITY 4F DUBLIi~ phone: 614-410-4600 • Fax: 614-761-6506
Memo
To: Members of Dublin City Council
From: Jane S. Brautigam, City Manager
Date: September 23, 2005
Initiated By: Colleen M. Gilger, Acting Director of Economic Development
Re: Ord. 61-05 -Economic Development Agreement with Smiths-Medical
Summary:
Staff has been in discussions with Smiths-Medical (formerly Medex, Inc.) regarding the retention of its existing
workforce located at its facility at 6250 Shier Rings Road, and the possibility of creating and locating its new
Shared Services Center in Dublin at 5200 Upper Metro Place.
In December 2004, Smiths Group, aLondon-based manufacturer and supplier of advanced-technology medical
devices, acquired Medex, Inc. Smiths-Medical has evaluated all of the current Medex and Smiths-Medical
facilities and workforce across the U.S. and plans to consolidate redundant operations into a unified Shared
Services Center.
Smiths-Medical expects to finalize its lease at 5200 Upper Metro Place in October for the Shared Services Center,
upon the approval of the State of Ohio's proposed Job Creation Tax Credit. Please note, this Agreement between
the City and Smiths-Medical. serves as the necessary local support component required for the JCTC.
Smiths-Medical, at the Shier Rings facility currently employs approximately 413 employees with an annual
payroll of $14,597,500; and as a component of the Economic Development Agreement, Smiths-Medical is
committing to retaining those jobs to Dublin.
Smiths-Medical also plans to consolidate several out-of-state, redundant support services into a new Shared
Services Center facility in Dublin, resulting in at least 125 new jobs to the State of Ohio within three years, and
nearly $702,000 in new income tax revenue to Dublin over the term of the Agreement. Company officials
anticipate Smiths-Medical will occupy the Shared Services Center facility in Dublin by early 2006.
Ordinance No. 61-OS legislates an Economic Development Agreement between the City and Smiths-Medical that
includes afour-year, 10-percent new withholding-equivalent incentive tied to the Shier Rings facility meeting
predetermined job and payroll growth commitments. This incentive is capped at $10,000 annually, and $40,000
for the term of the Agreement.
The City also will provide a Retention Grant of $120,000 tied to Smiths-Medical's commitment of retaining at a
minimum 395 former-Medex employees at the Shier Rings Road facility. This grant will be paid in two
installments: $40,000 within 30 days of execution of the Agreement, and $80,000 in Second Quarter 2006.
Smiths-Medical also agrees that if by December 31, 2007 total annual payroll for the Shier Rings Road facility has
not reached or exceeded $17,705,OOq the $120,000 Retention Grant must be forfeited and repaid in full.
The City is estimated to retain approximately $1.9 million (net) in income tax withholdings from these jobs.
And finally, the City offers afive-year, 20-percent withholding-equivalent incentive tied to the new Shared
Services facility meeting predetermined job and payroll growth commitments. This incentive is capped at $40,000
annually, and $200,000 for the term of the Agreement.
The City is estimated to net approximately $583,456 in new income tax withholdings from the Shared Services
Center over the course of the Agreement.
Over the term of this agreement, Smiths-Medical is estimated to receive at least $273,343, should it at a minimum
meet each annual target. Should Smiths-Medical exceed all predetermined annual targets tied to job growth as set
forth in the Agreement, the company could potentially receive a total incentive worth $360,000 (which includes
the Retention Grant dollars).
Conclusion:
Staff recommends the Economic Development Agreement and Ordinance No. 61-OS be accepted by City Council
on October 17, 2005.
6250 Shier Rings Road (Current Smiths-Medical facility)
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ECONOMIC DEVELOPMENT AGREEMENT
THIS ECONOMIC DEVELOPMENT AGREEMENT (the "Agreement") is made and entered into
this day of , 2005, by and between the CITY of DUBLIN, OHIO
(the "City"), a municipal corporation duly organized and validly existing under the Constitution
and the laws of the State of Ohio (the "State") and its Charter, and SMITHS-MEDICAL ("Smiths-
Medical"), aLondon based corporation, organized under the laws of the United Kingdom, and
properly certified to do business in the State, under the circumstances summarized in the
following recitals.
RECITALS:
WHEREAS, consistent with its Economic Development Strategy (the "Strategy") approved
by Dublin City Council Resolution No. 07-94 adopted on June 20, 1994, and the updated strategy
approved by Dublin City Council Resolution No. 30-04 adopted on July 6, 2004, the City desires
to encourage commercial office and retail development and provide for the retention and creation
of employment opportunities within the City; and
WHEREAS, based on the results of Smiths-Medical's recent acquisition of Medex, Inc.
("Medex") and comprehensive examination of workforce needs, and induced by and in reliance on
the economic development incentives provided in this Agreement, Smiths-Medical is desirous of
retaining its existing Medex workforce of 413 employees within the City and expanding its
workforce by creating the Smiths-Medical Shared Services Center at 5200 Upper Metro Place in
the City ("Smiths-Medical Center"), to include a total of 125 new jobs in the City; and
WHEREAS, pursuant to Ordinance No. 61-OS passed , 2005
(the "Ordinance"), the City has determined to offer economic development incentives described
herein to induce Smiths-Medical to retain and expand its Medex workforce within the City, and to
create jobs and employment opportunities through the creation of its Smiths-Medical Center
operation, and to improve the economic welfare of the people of the State of Ohio and the City, all
as authorized in Article VIII, Section 13 of the Ohio Constitution; and
WHEREAS, the City and Smiths-Medical have determined to enter into this Agreement to
provide these incentives to induce Smiths-Medical to retain its Medex operation and create its
Smiths-Medical Center operations within the City;
NOW THEREFORE, the City and Smiths-Medical covenant agree and obligate themselves as
follows:
Section 1. Smiths-Medical Agreement to Retain Current Medex Workforce and Create
Smiths-Medical Jobs. Smiths-Medical's Medex operation presently employs 413 employees at its
site located at 6250 Shier Rings Road in the City (the "Medex Facility"). The aggregate annual
payroll of those employees is approximately $14,597,500. In consideration for the economic
development incentives to be provided by the City herein, Smiths-Medical agrees that it will retain
its current Medex workforce of 413 fulltime employees within the City, and create a total 125 new
employment positions at the Smiths-Medical Center, 59 of which shall be created no later than
March 31, 2006. Smiths-Medical estimates that the average annual wage of those new employees at
the Smiths-Medical Center will be approximately $51,552. Smiths-Medical also expects to relocate
48 Medex jobs from the Medex Facility to the Smiths-Medical Center by December 31, 2005. If
Smiths-Medial relocates the Medex jobs to the Smiths-Medical Center, Smiths-Medical agrees that
by December 31, 2006, its Smiths-Medical Center workforce at the Smiths-Medical Center will not
be lower than 143 full-time employees and the Medex workforce at the Medex Facility will not be
lower than 395 full-time employees.
Smiths-Medical also agrees to work with the City's Division of Taxation to set up a coding
system for City income tax payments relating to the Smiths-Medical Center operation, in order to
provide evidence of the differentiation between income tax payments relating to the Smiths-Medical
Center operation and employees, the Medex Facility and any other Smith's Medical or Medex
offices and employees within the City. This coding system will ensure the City's respective annual
Target Medex Withholdings and Target Smiths-Medical Withholdings (each as defined below)
calculations for the Medex Facility and the Smiths-Medical Center operation, as needed for this
Agreement, can be calculated and analyzed separately to determine if such Target Medex
Withholdings and Target Smith-Medical Withholdings are met.
Section 2. Cit~A~reement to Provide Incentives.
(a) General. In consideration for Smiths-Medical's agreement to retain its Medex
operation and create its Smiths-Medical Center operations, workforce and associated payroll within
the City, the City agrees to provide economic development incentives to Smiths-Medical in
accordance with this Section.
(b) Retention Grant. Smiths-Medical will retain its Medex operation at the Medex
Facility. In consideration of Smiths-Medical's agreement to retain 413 jobs and expand its
Medex workforce within the City, the City agrees to provide a grant to Smiths-Medical in the
amount of $120,000 to be paid in two installments: $40,000 in 2005 and $80,000 in 2006
(collectively, the "Retention Grant"). The City agrees that it will make the first installment
payment of the Retention Grant no later than thirty (30) days following the execution of this
Agreement. The City agrees that it will make the second installment payment of the Retention
Grant no later than June 30, 2006, but not before March 15, 2006. If Smiths-Medical desires to
relocate any Medex jobs to the Smiths-Medical Center, Smiths-Medical agrees that the full-time
employee equivalent count at the Medex Facility will not be lower than 395 full-time employees.
(c) Workforce Creation Incentives Related to Medex Facility.
(i) Calculation of Actual Withholdin~i at Medex Facility. On or before March
15 of each of the years 2007 thru 2010 the City shall determine whether the actual payroll
withholding taxes collected (net of refunds) during the preceding calendar year by the
City from all Medex Employees (the "Actual Medex Withholdings") meet or exceed the
target withholdings for that preceding calendar year (the "Target Medex Withholdings"),
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all in accordance with the schedule set forth below. For purposes of this Section 2,
"Medex Employees" shall include only the following:
(A) All individuals employed by Smiths-Medical's Medex operation
working at the Medex Facility; and
(B) All independent contractors (excluding construction contractors
and tradesmen), consultants and temporary employees working at the Medex
Facility.
(ii) Payments Relating to Medex Facility. If the Actual Medex Withholdings
collected during the preceding calendar year by the City, exceed the Target Medex
Withholdings for that preceding calendar year, the City shall, on or before April 15 of the
then current calendar year, pay to Smiths-Medical, solely from nontax revenues, an amount
equal to the product of (1) the Actual Medex Withholdings minus the Target Medex
Withholdings, each for the preceding calendar year, multiplied by (2) an incentive factor
equal to Ten percent (10%) ("Medex Incentive Payment").
(iii) Target Medex Withholdings. The Target Medex Withholdings for each of
those calendar years shall be:
Calendar Year Target Medex Withholdings
2006 $291,067
2007 $317,465
2008 $346,664
2009 $357,004
(iv) Forfeiture of Medex Incentive Payment and Retention Grant. Smiths-
Medical agrees and acknowledges that the Incentive Payment provided for this Section 2(c)
is being made by the City to Smiths-Medical in consideration for Smiths-Medical's
agreement to retain its Medex workforce in the City. Smiths-Medical further agrees that if
the Target Medex Withholding is not met for any given year, as set forth in Section 2(c)(iii)
above, the City shall not be obligated to make any Medex Incentive Payment to Smiths-
Medical for the year in which the Target Medex Withholding was not met. Failure to meet
the Target Withholding in any one incentive year does not prohibit Smiths-Medical from
receiving a Medex Incentive Payment for any subsequent year in which the Target Medex
Withholding is met. Smiths-Medical also agrees that if by December 31, 2007 total annual
payroll for the Medex Facility has not reached or exceeded $17,705,000, the $120,000
Retention Grant set forth in Section 2(b) above, must be forfeited and repaid in full no later
than December 31, 2007.
(v) Maximum Incentive Payments. In no event shall the annual payment made
by the City to Smiths-Medical pursuant to this Section 2(c)(iii) during the term of this
Agreement exceed Ten Thousand Dollars ($10,000). In no event shall the aggregate amount
of payments made by the City to Smiths-Medical pursuant to this Section 2(c)(iii) during the
term of this Agreement exceed Forty Thousand Dollars ($40,000).
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(d) Workforce Creation Incentives Related to Smiths-Medical Center.
(i) Calculation of Actual Withholdings at Smiths-Medical Center. On or before
March 15 of each of the years 2006 thru 2010 the City shall determine whether the actual
payroll withholding taxes collected (net of refunds) during the preceding calendar year by
the City from all Smiths-Medical Center Employees (the "Actual Smiths-Medical
Withholdings") meet or exceed the target withholdings for that preceding calendar year
(the "Target Smiths-Medical Withholdings"), all in accordance with the schedule set forth
below. For purposes of this Section 2, "Smiths-Medical Employees" shall include only the
following:
(A) All individuals employed by Smiths-Medical's working at the
Smiths-Medical Center; and
(B) All independent contractors (excluding construction contractors
and tradesmen), consultants and temporary employees working at the Smiths-
Medical Center.
(ii) Payments Relating to Smiths-Medical Center. If the Actual Smiths-Medical
Withholdings collected during the preceding calendar year by the City, exceed the Target
Smiths-Medical Withholdings for that preceding calendar year, the City shall, on or before
April 15 of the then current calendar year, pay to Smiths-Medical, solely from nontax
revenues, an amount equal to the product of (1) the Actual Smiths-Medical Withholdings
multiplied by (2) an incentive factor equal to Twenty percent (20%) (the "Smiths-Medical
Incentive Payment
(iii) Target Smiths-Medical Withholdings. The Target Smiths-Medical
Withholdings for each of those calendar years shall be:
Calendar Year Target Smiths-Medical Withholdings
2005 $ 62,150
2006 $ 120,605
2007 $ 124,223
2008 $ 127,950
2009 $ 131,788
(iv) Forfeiture of Smiths-Medical Incentive Payment. Smiths-Medical agrees
and acknowledges that the Smiths-Medical Incentive Payment provided for in this Section
2(d) is being made by the City to Smiths-Medical in consideration for Smiths-Medical's
agreement to create and expand its Smiths-Medical Center workforce within the City.
Smiths-Medical further agrees that if the Target Smiths-Medical Withholding is not met for
any given year, as set forth in Section 2(d)(iii) above, the City shall not be obligated to make
any Smiths-Medical Incentive Payment to Smiths-Medical for the year in which the Target
Smiths-Medical Withholding was not met. Failure to meet the Target Smiths-Medical
Withholding in any one incentive year does not prohibit Smiths-Medical from receiving a
Smiths-Medical Incentive Payment for any subsequent year in which the Target Smiths-
Medical Withholding is met.
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(vi) Maximum Incentive Payments. In no event shall the annual payment made
by the City to Smiths-Medical pursuant to this Section 2(d)(iii) during the term of this
Agreement exceed Forty Thousand Dollars ($40,000). In no event shall the aggregate
amount of payments made by the City to Smiths-Medical pursuant to this Section 2(d)(iii)
during the term of this Agreement exceed Two-Hundred Thousand Dollars ($200,000).
(e) Method of Payment. The payments provided for in this Section 2 shall be made by
the City to Smiths-Medical by electronic funds transfer or by such other manner as is mutually
agreed to by the City and Smiths-Medical.
(f) Maximum Economic Development Incentive Payments. In no event shall the
aggregate amount of payments made by the City to Smiths-Medical pursuant to this Section 2
during the term of this Agreement exceed Three-Hundred-and-Sixty Thousand Dollars ($360,000)
(the "Maximum PaymentAmount").
(g) Additional Incentives. The City and Smiths-Medical agree that if Smiths-Medical
exceeds its job retention and creation targets described herein, the City and Smiths-Medical may
enter in negotiations for additional incentives not otherwise provided by this Agreement.
(h) City's Obligation to Make P~ments Not Debt• Pavments Limited to Nontax Revenues.
Notwithstanding anything to the contrary herein, the obligations of the City pursuant to this
Agreement shall not be a general obligation debt or bonded indebtedness, or a pledge of the
general credit or taxes levied by the City, and Smiths-Medical shall have no right to have excises
or taxes levied by the City, the State or any other political subdivision of the State for the
performance of any obligations of the City herein. Consistent with Section 13 of Article VIII,
Ohio Constitution, any payments or advances required to be made by the City pursuant to this
Section 2 shall be payable solely from the City's non-tax revenues. Further, since Ohio law
limits the City to appropriating monies for such expenditures only on an annual basis, the
obligation of the City to make payments pursuant to this Section 2 shall be subject to annual
appropriations by the City Council and certification by the Director of Finance of the City as to
the availability of such non-tax revenues.
(i) Applicable City Payroll Tax Rate. For purposes of calculating the Actual Withholdings
in each calendar year under this Section 2, the City's payroll tax rate shall be assumed to be two
percent (2%).
Section 3. Miscellaneous.
(a) Notices. Except as otherwise specifically set forth in this Agreement, all notices,
demands, requests, consents or approvals given, required or permitted to be given hereunder shall be
in writing and shall be deemed sufficiently given if actually received or if hand-delivered or sent by
recognized, overnight delivery service or by certified mail, postage prepaid and return receipt
requested, addressed to the other party at the address set forth in this Agreement or any addendum
to or counterpart of this Agreement, or to such other address as the recipient shall have previously
notified the sender of in writing, and shall be deemed received upon actual receipt, unless sent by
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certified mail, in which event such notice shall be deemed to have been received when the return
receipt is signed or refused. For purposes of this agreement, notices shall be addressed to:
(i) the City at: 5800 Shier Rings Road
Dublin, Ohio 43016-7295
Attention: Economic Development Director
(ii) Smiths-Medical at: 6250 Shier Rings Road
Dublin, Ohio 43016
Attention: Chris Bresnahan
The parties, by notice given hereunder, may designate any further or different addresses to which
subsequent notices; certificates, requests or other communications shall be sent.
(b) Extent of Provisions; No Personal Liability. All rights, remedies, representations,
warranties, covenants, agreements and obligations of the City under this Agreement shall be
effective to the extent authorized and permitted by applicable law. No representation, warranty,
covenant, agreement, obligation or stipulation contained in this Agreement shall be deemed to
constitute a representation, warranty, covenant, agreement, obligation or stipulation of any present
or future trustee, member, officer, agent or employee of the City or Smiths-Medical in other than his
or her official capacity. No official executing or approving the City's or Smiths-Medical's
participation in this Agreement shall be liable personally under this Agreement or be subject to any
personal liability or accountability by reason of the issuance thereof.
(c) Successors. This Agreement shall be binding upon and inure to the benefit of Smiths-
Medical and its successors and assigns.
(d) Recitals. The City and Smiths-Medical acknowledge and agree that the facts and
circumstances as described in the Recitals hereto are an integral part of this Agreement and as such
are incorporated herein by reference.
(e) Amendments. This Agreement may only be amended by written instrument executed
by the City and Smiths-Medical.
(f) Executed Counterparts. This Agreement may be executed in several counterparts, each
of which shall be regarded as an original and all of which shall constitute but one and the same
agreement. It shall not be necessary in proving this Agreement to produce or account for more than
one of those counterparts.
(g) Severability. In case any section or provision of this Agreement, or any covenant,
agreement, obligation or action, or part thereof, made, assumed, entered into or taken, or any
application thereof, is held to be illegal or invalid for any reason,
(i) that illegality or invalidity shall not affect the remainder hereof or thereof, any
other section or provision hereof, or any other covenant, agreement, obligation or action, or
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part thereof, made, assumed, entered into or taken, all of which shall be construed and
enforced as if the illegal or invalid portion were not contained herein or therein,
(ii) the illegality or invalidity of any application hereof or thereof shall not affect
any legal and valid application hereof or thereof, and
(iii) each section, provision, covenant, agreement, obligation or action, or part
thereof, shall be deemed to be effective, operative, made, assumed, entered into or taken in
the manner and to the full extent permitted by law.
(h) CaQtions. The captions and headings in this Agreement are for convenience only and in
no way define, limit or describe the scope o?- intent of any provisions or sections of this Agreement.
(i) Governing Law and Choice of Forum. This Agreement shall be governed by and
construed in accordance with the laws of the State of Ohio or applicable federal law. All claims,
counterclaims, disputes and other matters in question between the City, its agents and employees,
and Smiths-Medical, its employees and agents, arising out of or relating to this Agreement or its
breach will be decided in a court of competent jurisdiction within Franklin County, Ohio.
(j) Survival of Representations and Warranties. All representations and warranties of
3SG and the City in this Agreement shall survive the execution and delivery of this Agreement.
(k) Notwithstanding any clause or provision of this Agreement to the contrary, in no
event shall City or Smiths-Medical be liable to each other for punitive, special, consequential, or
indirect damages of any type and regardless of whether such damages are claimed under contract,
tort (including negligence and strict liability) or any other theory of law.
(signature page to follow)
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IN WITNESS WHEREOF, the City and Smiths-Medical have caused this Agreement to be
executed in their respective names by their duly authorized representatives, all as of the date first
written above.
CITY OF DUBLIN, OHIO
By:
Printed: Jane Brauti~am
Title: City Manager
Approved as to Form:
By:
Printed: Stephen J. Smith
Title: Director of Law
SMITHS-1V1(EDICAL
By:
Printed:
Title:
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FISCAL OFFICER'S CERTIFICATE
The undersigned, Director of Finance of the City under the foregoing Agreement, certifies
hereby that the moneys required to meet the obligations of the City under the foregoing Agreement
have been appropriated lawfully for that purpose, and are in the Treasury of the City or in the
process of collection to the credit of an appropriate fund, free from any previous encumbrances.
This Certificate is given in compliance with Sections 5705.41 and 5705.44, Ohio Revised Code.
Dated: , 2005
Marsha I. Grigsby
Deputy City Manager/Director of Finance
City of Dublin, Ohio
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