034-89 Ordinance Amended
RECORD OF ORDINANCES
National Graphics Corp.. COls., 0, Form No. 2806-A
34-89 (Amended) P assed_ _19_ _
Ordinance No. n____________m
AN ORDINANCE TO AUTHORIZE MODIFICATION
OF THE WATER FACILITIES AGREE-
MENT AND PAYMENT TO PROFESSIONAL
ACQUISITION CORPORATION
WHEREAS, Dublin and Muirfield Ltd. entered into a water facilities
agreement in 1979; and,
WHEREAS, the City has collected water tap fees relating 1:0 water facility
improvements built by or with the assistance of MuirfielJ Ltd.; and,
WHEREAS, Professional Acquisition Corporation, an Ohio Corporation is the
successor entity to Muirfield Ltd.; and,
WHEREAS, it is Council's desire to ratify the modified water facilities
agreement and to authorize payment thereunder to ProfessLonal Acquisition
Corporation.
NOW, THEREFORE, BE IT ORDAINED by the Council of the Citv of Dublin, State
of Ohio, 6 of the elected members concurring that:
Section 1. Council hereby ratifies the modified water facilities agreement
attached hereto and further instructs the City Manager to) execute said
agreement.
Section 2. Council hereby authorizes payment pursuant to) the terms of the
above-referenced agreement to Professional Acquisition Corporation in the
amount of $93,848.00.
Section 3. This Ordinance shall take effect and be in force from and
after the earliest period allowed by law.
Passed this 11th day of April , 1989.
M~id~
Attest:
J~~4 ~tf~
Clerk of Counci
I
! 1 hereby certify that ca?ies of tnls Ord:n~m:e/Resolut:on w~re po.sted in th9
City of Dublln in atcordance w~th Sect:on 731.25 of the .~[o ReVised Code.
J~~. ~
Clerk of CeundL ,1ll!~ t\bia
WATER FACILITIES AGREEMENT (AMENDEDO
THIS AGREEMENT, made and entered into the day of , 1989,
by and between the CITY OF DUBLIN, OHIO, and Ohio municipal corporation herein-
after called "Dublin", and PROFESSIONAL ACQUISITION CORPORATION, an Ohio corporation
and successor to Muirfield Ltd. in the development of Muirfield Village, a
residential and recreational development of approximately 1,600 acres in Dublin
situated generally north of Brand Road and west of State Route #745, each of the
said PROFESSIONAL ACQUISITION CORPORATION and its predecessor being hereinafter
called the "Developer".
WIT N E SSE T H:
WHEREAS, Dublin and the Developer entered into a Water Facilities Agreement
on June 5, 1979 (hereinafter called the "1979 Agreement") by which the Developer
agreed to construct at its costs a booster pumping station, an ,~levated storage
tank and related facilities (sometimes hereinafter collectively called the "New
Water Facilities") and Dublin agreed, among other things, to reimburse the
Developer for such costs, without interest, from funds received by Dublin as fees
or other charges for water taps and service connections and deposited by Dublin
in a special account for such purposes (hereinafter call1ed the "Northern Water
Main Account"); and
WHEREAS, the Developer has constructed at its costs all of the New Water
Facilities except for an elevated storage tank or tanks with a maximum total
capacity of 500,000 gallons to be located within Muirfield Village (hereinafter
called the "Muirfield Village Storage Tank") which was to be constructed by
the Developer at such time or times as Dublin's engineer determined the same was
needed; and,
WHEREAS, in addition to the New Water Facilities the Developer did construct
for Dublin a sixteen-inch waterline (hereinafter called "Sixteen-inch Line) and
Dublin is obligated to reimburse the Developer, without interest, for the costs
incurred by the Developer in constructing the Sixteen-inch Line, such costs amount
to $109,666.00; and,
WHE REAS , Dublin has reimbursed the Developer for the costs of all of the New
Water Facilities constructed by the Developer pursuant to the 1979 Agreement, but
has not reimbursed the Developer for the costs incurred by the Developer in
constructing for Dublin the Sixteen-inch Line; and,
WHEREAS, Dublin has accumulated a sum in excess of $183,941.18 in the Northern
Water Main Account (such sum being hereinafter called the "Excess Accmulation")
from fees and other charges received by Dublin for water taps and service
connections; and,
WHE REAS , Dublin is presently constructing an elevated water storage tank having
a capacity of 2,000,000 gallons in the vicinity of Brand and Av(~ry Roads (herein-
after called the "New Storage Tank") and as a result thereof it will not be
necessary for the Muirfield Village Storage Tank to be constructed; and,
WHEREAS, the parties have agreed that, giving due consideration to the Excess
Accumulation and that the Developer advanced for Dublin the Dev(~loper's funds in
order to pay for the costs of the Sixteen-inch Line, the Developer's remaining
obligation under the 1979 Agreement would be met by its advancing to Dublin
$138,592.82 of the costs to Dublin of the New Storage Tank, said sum to be repaid
by Dublin to the Developer, without interest, out of future fees and other charges
received by Dublin for water taps and service connections; and
.
WHEREAS, the parties have also agreed that the cost to the Developer and the
benefit to Dublin of the Developer's advance on behalf of Dublin of an additional
$138,592.82 to be repaid by Dublin, without interest, as aforesaid, would be
$15,818.00; and,
WHE REAS , the parties believe that their mutual best interests would be served
if Dublin keeps and retains the Excess Accumulation, if the Developer is relieved
from any further duty or obligation under the 1979 Agreement and if Dublin reimburses
the Developer for its costs of constructing the Sixteen-inch Line, less the cost to
the Developer and benefit to Dublin of the Developer's advancing to Dublin an
additional $138,592.82 to be reimbursed by Dublin, without interest, out of future
fees and charges collected by Dublin for water taps and service connections;
NOW, THEREFORE, in consideration of the foregoing and of the covenants and
agreements hereinafter set forth, the parties hereto do hereby agree as follows:
1. The Developer hereby releases Dublin of and from any and all claims it
may have to, or resulting from, any part of the Excess Accumulation.
2. Dublin hereby releases the Developer from any further duty or obligation to
to construct the Muirfield Village Storage Tank or any other facilities
pursuant to the 1979 Agreement.
3. Dublin hereby agrees to pay to the Developer in cash, within fifteen days
following the date of this Agreement, the sum of $93,948.00, said sum
being the Developer's un-reimbursed costs of constructing for Dublin the
Sixteen-inch Line less the cost to the Developer and benefit to Dublin of
the Developer's advance of an additional $138,592.82 '1:0 Dublin.
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
executed by their duly authorized officers as of the day and yea.r first above
written.
APPROVED AS TO FORM: THE CITY OF DUBLIN, OHIO
~~y 2,.:.q;;) (6tch.4
DIRECTOR CITY MANAGER &
PROFESSIONAL ACQUISITION CORPORATION
BY
I