34-02 Resolution
RECORD OF RESOLUTIONS
Dayton legal Blank Ca., Farm Na. 30045
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'I
~ R l . 34-02
eso utwn No. 00 Passed .. 00'
YEc\R
I,
II A RESOLUTION AUTHORIZING THE CITY MANAGER
'i TO CONSENT TO A MORTGAGE OR OTHER LIENS ON
I THE LEASEHOLD UNDER THAT CERTAIN GROUND
LEASE AND OPERATING AGREEMENT BETWEEN
THE CITY AND TARTAN GOLF COMPANY, LLC.
WHEREAS, by Ordinance No. 119-00 passed by this Council on October 16, 2000,
the City entered into a certain Ground Lease and Operating Agreement (the
Agreement) with Tartan Golf Company, LLC (the Lessee) relating to the
development of the Dublin Golf Club; and
WHEREAS, that Agreement requires the City to consent in writing to any mortgage
or assignment of the Lessee's right, title and interest under and in that Agreement
(the Lien), and the Lessee has requested such consent in connection with a financing
in an amount not to exceed $7,500,000 to make further improvements to the Property
(the Financing);
NOW, THEREFORE, BE IT RESOLVED by the City of Dublin, Franklin, Union
and Delaware Counties, Ohio, that:
Section 1. This Council on behalf of the City hereby approves the Lien in
connection with the Financing and authorizes the City Manager to execute and
provide to the Lessee a written consent to the Lien for the Financing, which consent
shall be in the customary form.
Section 2. This Council further authorizes the City Manager, for and in the name of
the City, to execute any other documents evidencing the City's consent to the Lien in
furtherance of the Financing.
Section 3. This Council finds and determines that all formal actions of this Council
concerning or 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 Resolution shall take effect and be in force in accordance with
Section 4.04(a) of the Dublin City Charter.
Ii ~igned: .,.
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r MaYOr:~l:e" .
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Attest:
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Clerk of Council
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.
Office of the City Manager
5200 Emerald Parkway' Dublin, Ohio 43017-1006
Phone: 614-410-4400' Fax: 614-410-4490 Memo
CITY OF DUBLIN
To: Members of the Dublin City Council
From: Jane S. Brautigam, City Manager'-J~ 5 . (b~
Marsha 1. Grigsby, Assistant City Manager/Director of Fmance
Stephen J. Smith, Law Director
Date: August 14, 2002
Re: Resolution No. 34-02, A Resolution Authorizing the City Manager to Consent to a Mortgage
or Other Liens on the Leasehold under that Certain Ground Lease and Operating Agreement
between the City and Tartan Golf Company, LLC.
SUMMARY:
The attached Resolution was initiated as a result of a request from the Huntington National Bank,
seeking City consent for additional financing pursuant to our previous agreements with the Tartan
Golf Company. The Huntington National Bank has agreed to increase the funding to the golf
course by an additional $750,000, taking the new total to $7.25 Million.
RECOMMENDATION:
Staff recommends approval of this resolution authorizing the city manager to execute the consent.