14-95 Ordinance
RECORD OF ORDINANCES
Dayton Legal Blank Co. Form No. 30043
Ordinance No. _ m_~~9Su Passed nnnm_un un___________uu u_____u_19 mn
AN ORDINANCE AUTHORIZING AN ADVANCE FROM mE
/' GENERAL FUND TO THE MCKITRICK PROJECT TAX
~ INCREMENT FINANCING FUND, APPROPRIATING FUNDS,
AND DECLARING AN EMERGENCY
WHEREAS, the City of Dublin has adopted Ordinance 57-94, AN ORDINANCE
DECLARING IMPROVEMENTS TO A CERTAIN PARCEL OF REAL PROPERTY
TO BE A PUBLIC PURPOSE, DESCRIBING THE PUBLIC INFRASTRUCTURE
IMPROVEMENTS TO BE MADE TO BENEFIT THAT PARCEL, REQUIRING THE
OWNERS THEREOF TO MAKE SERVICE PAYMENTS IN LIEU OF TAXES, AND
ESTABLISHING A MUNICIPAL PUBLIC IMPROVEMENT TAX INCREMENT
EQUIVALENT FUND, FOR THE DEPOSIT OF SUCH SERVICE PAYMENTS, AND
DECLARING AN EMERGENCY, for the McKitrick office development project; and
WHEREAS, the City will be entering into a tax increment fmancing agreement with the
related parties; and
WHEREAS, the City as part of the authorizing legislation and the tax increment
financing agreement to be entered into will be obligated to construct the public
infrastructure improvements identified in the ordinance and the tax increment financing
agreement; and
WHEREAS, the improvements have been identified as critical transportation system
improvements and have been included in the proposed 1995-1999 Capital Improvements
Program; and
WHEREAS, it is necessary to amend the annual appropriations to provide funding for
the project.
NOW, mErFORE, BE IT ORDAINED, by the Council of the City of Dublin, State
of Ohio, elected members concurring:
Section 1. That there be advanced from the General Fund the amount of $275,000 to the
McKitrick Project TIP Fund for design costs associated with the public infrastructure
improvements. This advance will be reimbursed from the proceeds of a future debt
issuance which will subsequently be retired from service payments in lieu of taxes.
Section 2. That there be appropriated from the unappropriated balance in the McKitrick
Project TIP Fund the amount of $275,000 to account 52-03-14-2349 for design costs.
Section 3. That this ordinance be, and the same hereby is, declared to be an emergency
measure for the preservation of public peace, health or welfare of the residents of this
City, and therefore this ordinance shall take effect and be in force immediately upon its
passage.
Passed this :< 7~h daYOf,:}~_.1995.
Cpivi L~ding Officer
v
ATTEST:
~ C!--~
Clerk of Council
I hereby cert:fy that (Op:e5 of !~)s Ord;nil!'lCe/Re;:J!ul:on were posted in the
City of OuMin in accordance w;t>. Ser.tion 731.25 "f thfl 9I1io Revised Code.
~(jL~
CIllfle of COlmcil, Dublin. Ohio