78-07 OrdinanceRECORD OF ORDINANCES
Dayton Legal Blank, inc. Form No. 30043
Passed
20
Ordinance No. 78 -07
AN ORDINANCE AUTHORIZING THE CITY
MANAGER TO ENTER INTO AN ECONOMIC
DEVELOPMENT AGREEMENT WITH CENTER
FOR RELIABLE ENERGY SYSTEMS, LLC (ORES)
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 creation of employment opportunities within the
City; and
WHEREAS, Center for Reliable Energy Systems (CRES) is desirous of establishing
its operations and workforce within the City in consideration for the provision by the
City of economic development incentives; and
WHEREAS, this Council has determined to offer 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 CRES to establish its operations and workforce within the City, to create 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 CRES to establish its operations
and workforce within the City and to provide for the execution and delivery of that
Economic Development Agreement with CRES;
NOW, THEREFORE, BE IT ORDAINED by the Council of the City of Dublin,
Franklin, Union and Delaware Counties, Ohio, —�7— of the elected members
concurring, that:
Section 1 . The Economic Development Agreement by and between the City and
CRES, in the form presently on file with the Clerk of Council, providing for, among
other things, the provision of incentives to CRES in consideration for CRES's
agreement to establish its operations and workforce within the City, is hereby
approved and authorized with changes therein not inconsistent with this Ordinance
and not substantially adverse to this City and which shall be approved by the City
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.
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 may be 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.
RECORD OF ORDINANCES
Dayton Legal Blank, Inc. Form No. 30043
Ordinance No. 78 -07 Passed Page 2 20
Section 4 . This Ordinance shall be in full force and effect on the earliest date
permitted by law.
Signed:
Mayor - Presiding Officer
Attest:
Cd
Clerk of Council
Passed: L"f p(j -G ✓ I , 2007
Effective: (Cc;f O lb ev —3 , 2007
I I
1
CITY OF DUBLIN
Office of the City Manager
5200 Emerald Parkway, Dublin, Ohio 43017
Phone: 614 - 410 -4400
To: Members of Dublin City Council
From: Jane S. Bramigam, City Manager
Date: September 27, 2007
Memo
Initiated By: Dana L. McDaniel, Deputy City Manager /Director of Economic Development
Re: Ordinance 78 -07 — Economic Development Agreement with Center for
Reliable Energy Systems, Inc. (ORES)
Summary:
At Council's last meeting, a concern was raised about whether supporting an EDA with CRES
would influence or otherwise promote the building of energy infrastructures in frontier areas,
such as in the arctic regions and deep water offshore areas.
Staff further discussed this issue with Dr. Wang. Dr Wang assured staff that his research is
focused on the safe transportation of energy products through pipelines. The focus and results of
his research are to develop the federal codes for safety and regulatory compliance. He also
provides consulting services to the energy industry — again, focused on compliance issues
relative to design and product manufacturing. These regulatory codes and compliance efforts are
intended to ensure the safe transport of energy products and, ultimately, the protection of the
environment. Dr. Wang has no involvement in the decision- making process as to where energy
products are obtained or where energy products are piped to and from. It is also important to
keep in mind that the transport of energy products occurs throughout our country in populated
areas and even through Dublin. Staff does not see any conflict with Council's green initiatives
and related goal(s). Instead, Dr. Wang's efforts and expertise promote safety and environmental
protection.
Recommendation:
Staff recommends approval of Ordinance 78 -07 at the second reading/public hearing on October
1. Passing this ordinance will support Council's goal relative to creating new entrepreneurial
and/or technology businesses, resulting in additional knowledge -based job growth. Please
contact Dana McDaniel or myself with any questions you may have.
ORES
Center for Reliable Energy Systems LLC
6059 Frantz Road, Suite 101
Dublin, Ohio 43017
614 - 808 -4872
Yong -Yi Wang, Ph.D.
President
(614) 419 -2366
E -mail: yongyi wanggcolumbus.a.com
City of Dublin
c/o Dana McDaniel
Director of Economic Development
5800 Shier Rings Road
Dublin, 01143016
September 27, 2007
Re: EDA with CRES
The Honorable Mayor and City Council:
I'd like to take this opportunity to express my sincere gratitude to the city council and the
citizens of Dublin for the support CRES is receiving. As long -time residents of the city,
my wife and our three boys are equally grateful and proud of our city.
CRES provides advanced technology that ensures the safety and reliability of energy
systems each of us depends on. CRES does not take positions on politically sensitive
issues, such as drilling in environmentally sensitive areas. Our work helps to protect
lives, properties, and the environment.
Since its founding on June 20, 2007, CRES has received overwhelming support from the
federal government and the energy industry. As an example, CRES will be working with
the National Institute of Science and Technology (NIST), the Lincoln Electric Company
(based in Cleveland), and Natural Resources Canada - Materials Technology Laboratory
( httn : / /www.nrcan.gc.ca/canmet -mtl on a major program supported by the US
Department of Transportation, PRCI (Pipeline Research Council International), and a
number of major energy companies. Further program information may be obtained at
httn: / /nrin is. nhmsa.dot.gov /matiix/PriHome.rdm ?nri =225 and
httn: / /nrin is. nhmsa.dot.gov /matiix/PriHome.rdm ?nri =226
By Friday, October 5, CRES will have three full -time staff members, including myself,
all with Ph.D. and many years of experience in the areas of ORES' business focus.
I again thank you for your support.
Regards,
Yong -Yi
CRES
Center for Reliable Energy Systems LLC
6059 Frantz Road, Suite 101
Dublin, Ohio 43017
614 - 808 -4872
Yong -Yi Wang, Ph.D.
President
(614) 419 -2366
E -mail: yongyi_wang @columbus.n.com
About Yong -Yi Wang, CRES
Dr. Wang moved to the Columbus area in 1991 after receiving my M.S. and Ph.D. from
the Massachusetts Institute of Technology (MIT). He worked at the Edison Welding
Institute on the west campus of OSU for seven years. In 1998 he became a founding
member and officer of another business, Engineering Mechanics Corporation of
Columbus (Emc He is known world wide as a leading authority in the reliability and
structural integrity of energy systems. His work has been recognized by API (American
Petroleum Institute), ASME (American Society of Mechanical Engineers), ISOPE
(International Society of Polar Engineers), et al. He has been the invited speaker of
many international forums and managed major projects for private industries and
government agencies. A few examples maybe found onthe web.
http://primis.phmsa.dot.gov/rd/rotgs/012506/35 Keynote Wang_pdf
httn: / /www1.eere.energy. gov /indust, /r�pdfs /13cps_16945 advanced integration of
multi-scale _mechanics.ndf
httn: // www. intemationalvivelineconference. com/ ndfs/ IPCE2006ForumsPanelsPaners.ndf
and
httn: / /www.isope.org /ocean &polarupdates /2006 /October 6 Two New S mposia.htrn
CrrY OF DUBLIN_
Office of the City Manager
5200 Emerald Parkway • Dublin, OH 43017 -1006
Phone: 614 - 410 -4400 • Fax: 614 - 410 -4490
TO: Members of Dublin City Council
FROM: Jane S. Brautigam, City Manager
Memo
DATE: September 13, 2007
INITIATED BY: Dana L. McDaniel, Deputy City Manager /Director of Economic Development
RE: Ordinance 78 -07 Economic Development Agreement —Center for Reliable Services
Summary:
Staff has been in discussions with the Center for Reliable Energy Systems, LLC (CRES)
regarding the possibility of a Dublin location for its operations and workforce.
CRES is a start-up company being formed by Dublin resident Yong -Yi Wang, Ph.D. CRES was
formed in June of 2007 to explore the huge business opportunities in the energy industry
worldwide. Dr. Wang has been working with the federal government and major multinational
energy companies to conduct advanced research and apply the results of the research to codes
and standards. These codes and standards are typically adopted in the Federal Registry and
become laws for the energy industry. His code and development activities have focused on
building energy infrastructures in frontier areas, such as in the arctic regions (e.g. Northern
Alaska and Northern Canada) and deep water offshore areas (Gulf of Mexico and West Africa).
Dr. Wang possesses experience in company formation and business development. He was a
founding member of another business, Engineering Mechanics Corporation of Columbus
(Emc2). He also is well known for his research and work associated with the Edison Welding
Institute in Columbus.
CRES is a start-up company and is in the process of finalizing contracts with the federal
government and private industry with keen insight on future contracts. The business nature of
CRES requires a very high level of technical and communication skills. Almost all technical staff
members will have advanced degrees, at least at the Master's level, and most will have a
doctorate degree. The average gross pay for all staff members is estimated to be $100,000 per
year. CRES intends to grow to 25 employees by the end of 2011, with an estimated annual
payroll of $2,500,000. CRES has finalized and provided staff a copy of its lease at 6059 Frantz
Road.
Ordinance No.78 -07 authorizes an Economic Development Agreement (attached) between the
City and CRES that includes a three -year withholding incentive of 20 percent for 2008, 15
percent for 2009 and 10 percent for 2010 tied to the company meeting pre - determined job and
payroll growth commitments. The City also offers a $2,500 Start-up Grant to CRES to help
offset initial start-up costs such as technology setup. CRES will be provided this grant not more
than thirty days after the effective date of the Agreement.
Memo re Ord. 78 -07 EDA — Center for Reliable Services
September 13, 2007
Page 2 of 2
Over the term of this agreement, CRES is estimated to receive at least $10,900, should it at a
minimum meet each annual withholding target; while the City is estimated to net approximately
$51,100 in new income tax withholdings.
Please contact Dana McDaniel or myself with any questions you may have.
Conclusion:
Staff recommends City Council pass Ordinance 78 -07. Passing this Ordinance will support
Council's goal relative to creating new entrepreneurial and/or technology businesses resulting in
additional knowledge -based job growth.
78 -07
AN ORDINANCE AUTHORIZING THE CITY
MANAGER TO ENTER INTO AN ECONOMIC
DEVELOPMENT AGREEMENT WITH CENTER
FOR RELIABLE ENERGY SYSTEMS, LLC (ORES)
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 creation of employment opportunities within the
City; and
WHEREAS, Center for Reliable Energy Systems (CRES) is desirous of establishing
its operations and workforce within the City in consideration for the provision by the
City of economic development incentives; and
WHEREAS, this Council has determined to offer 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 CRES to establish its operations and workforce within the City, to create 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 CRES to establish its operations
and workforce within the City and to provide for the execution and delivery of that
Economic Development Agreement with CRES;
NOW, THEREFORE, BE IT ORDAINED by the Council of the City of Dublin,
Franklin, Union and Delaware Counties, Ohio, of the elected members
concurring, that:
Section 1 . The Economic Development Agreement by and between the City and
CRES, in the form presently on file with the Clerk of Council, providing for, among
other things, the provision of incentives to CRES in consideration for CRES's
agreement to establish its operations and workforce within the City, is hereby
approved and authorized with changes therein not inconsistent with this Ordinance
and not substantially adverse to this City and which shall be approved by the City
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.
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 may be 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.
78 -07
Page 2
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:
2007
Effective: .2007
ECONOMIC DEVELOPMENT AGREEMENT
THIS ECONOMIC DEVELOPMENT AGREEMENT (the `Agreement") is made and entered into
this day of , 2006, 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 Center for Reliable Energy
Systems, LLC ( "CRES ") a Dublin corporation, 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, CRES desires to locate its offices at 6059 Frantz Road and create a workforce of
approximately 25 fulltime employees over the next five years within the City of Dublin; and
WHEREAS, pursuant to Ordinance No.78 -07 passed October 1, 2007 (the "Ordinance "), the
City has determined to offer economic development incentives described herein to induce CRES to
locate and establish its operations and workforce within the City to create 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, the City and CRES have determined to enter into this Agreement to provide
these incentives to induce CRES to locate its operations and create its workforce within the City.
Now THEREFORE, the City and CRES covenant agree and obligate themselves as follows:
Section 1. CRES Agreement to Create Jobs CRES agrees that it will establish its
operations at 6059 Frantz Road in the City of Dublin (the "Dublin Facility'). CRES will occupy the
Dublin Facility no later than October 30, 2007 and will employ at least 15 fulltime employees within
the City of Dublin as part of its operations by December 31, 2010. The average annual wage of
these employees for this period is estimated to be $100,000 with total estimated payroll
withholdings of approximately $62,000 over the term of this agreement.
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Section 2. Citv Agreement to Provide Incentives
(a) General In consideration for CRES's agreement to locate its sales and marketing
center operation, workforce and associated payroll within the City, the City agrees to provide
economic development incentives to CRES in accordance with this Section.
(b) Start-up Grant In consideration of the agreement to locate its operations'
workforce within the City, the City agrees to provide a grant to CRES in the amount of $2,500
(the "Start -up Grant'). The City will make payment of the Start-up Grant to CRES upon proof
of a signed lease for the Dublin facility or thirty days after the effective date of this Agreement,
whichever is later.
(c) Performance Incentive
(i) Calculation of Actual Withholdings On or before March 15 of each of the
years 2007 thru 2009 the City shall determine whether the actual payroll withholding
taxes collected during the preceding calendar year by the City from all Employees (the
Actual Withholdings') meet or exceed the target withholdings for that preceding
calendar year (the "Target Withholdings "), all in accordance with the schedule set forth in
subparagraph (iii) below. For purposes of this Section 2, "Employees" shall include all
individuals employed by CRES in the City of Dublin and working at the Dublin Facility.
CRES agrees that, in accordance with the Dublin City Code, the annual payroll
reconciliation relating to the Employees will be provided to the City prior to February 28
of each calendar year.
(ii) Payments to CRES If the Actual Withholdings (net of refunds paid to
employees by the City) meets or exceeds the Target Withholdings for the preceding
calendar year, the City shall, on or before April 15 of the then current calendar year, pay to
CRES, solely from non -tax revenues, an amount equal to the product of (A) the Actual
Withholdings (net of refunds paid to employees by the City), multiplied by (B) an incentive
factor equal to twenty percent (20 %) for 2008, fifteen percent (15 %) for 2009 and ten
percent (10 %) for 2010 (the "Incentive Payments ").
(iii) Withholdings and Incentive Payments With respect to the Actual
Withholdings collected during each of the calendar years 2008 thru 2010, inclusive, the
Target Withholdings and Incentive Payment to be paid in respect of each of those calendar
years shall be paid in accordance with the following schedule:
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Calendar Year Target Withholdings (1)
2008
$12,000
2009
$20,000
2010
$30,000
2011
N/A
Base Incentive Payment (2)
N/A
$2,400 (20% of 2008)
$3,000 (15% of 2009)
$3,000 (10% of 2010)
The payments provided for in this Section 2 shall be made by the City to CRES by
electronic funds transfer or by such other manner as is mutually agreed to by the City and CRES.
Performance incentive maximum payment caps are set as indicated in the table above in Section
2(c)(iii). The total maximum payment cap associated with the Agreement (including both the grant
payment and three annual performance payments) is $8,400.
(d) Forfeiture of Incentive Payment CRES agrees that if the Target Withholdings is not
met, as set forth in 2(c)(iii) above for any given year, the City is not obligated to make any
incentive payment to CRES for the year in which the Target Withholdings was not met. Failure
to meet the Target Withholdings in any one incentive year does not prohibit CRES from
receiving an Incentive Payment for any subsequent year in which the Target Withholdings is
met, and not including the bonus years. No financial obligation is incurred by CRES for failure
to meet the Target Withholdings set forth in Section 2(c)(iii).
(e) City's Obligation to Make Payments Not Debt: Payments Limited to Non -tax 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 CRES 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.
(f) 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 ( %).
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
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notified the sender of in writing, and shall be deemed received upon actual receipt, unless sent by
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) CRES at:
Attention:
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 CRES in other than his or her
official capacity. No official executing or approving the City's or CRES'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 CRES
and its successors and assigns.
(d) Recitals The City and CRES 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 CRES.
(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) Captions The captions and headings in this Agreement are for convenience only and in
no way define, limit or describe the scope or 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 CRES, 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.
0) Survival of Representations and Warranties All representations and warranties of
CRES 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 CRES 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.
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IN WITNESS WHEREOF, the City and CRES 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
MM
Printed: Jane Brautigam
Title: City Manager
Approved as to Form:
C
Printed: Stephen J. Smith
Title: Director of Law
Center for Reliable Energy Systems, LLC
C
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: 1 2007
Marsha I. Grigsby
Deputy City Manager /Director of Finance
City of Dublin, Ohio
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