56-95 Ordinance
,
RECORD OF ORDINANCES
Dayton Legal Blank Co. Form No. 30043
I
. 56-95 P assed_______.__.____________ ____._________ _ 00_00 _.0019 _____.00
Ordmance No. 00____ n____nhm__
AN ORDINANCE AUTHORIZING AN ADVANCE FROM THE
CAPITAL IMPROVEMENTS TAX FUND TO THE McKITRICK
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
EQUNALENTFUND, FOR THE DEPOSIT OF SUCH SERVICE PAYMENTS, AND
DECLARING AN EMERGENCY, for the McKitrick office development project; and
WHEREAS, the City of Dublin adopted Ordinance 62-94 amending Ordinance 57-94 to
revise the public instrastructure improvements specified in Exhibit B of that Ordinance;
and
WHEREAS, the City will be entering into a tax increment financing 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 fmancing
agreement; and
,... WHEREAS, the public infrastructure improvements have been identified as critical
l.- 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
right-of-way acquisition related to the public infrastructure improvements.
NOW, THEREFORE, 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 Capital Improvements Tax Fund the amount
of $1,275,200 to the McKitrick Project TIP Fund for right-of-way acquisition. 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 $1,275,200 to account 52-03-14-2510 for right-of-way
acquisition.
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 ~ & rh
i day Of~ ' 1995.
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