070-94 Ordinance
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RECORD OF ORDINANCES
Dayton Legal Blank Co. Form No. 30043
Ordinance No.7.Q~94_ ___m._ ,.. Passed_m__ nn_.__. _____ __ 0000. un_. __ _ _19._ u_._
AN ORDINANCE ADVANCING FUNDS FROM THE GENERAL FUND
TO THE PERIMETER CENTER TIF FUND. APPROPRIATING FUNDS.
AND DECLARING AN EMERGENCY
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WHEREAS. the City of Dublin has adopted Ordinance 58-94. 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, for the Perimeter Center Project; and
WHEREAS. the City will be entering into a tax increment financing agreement with
Continental Real Estate Companies; and
WHEREAS. the City as part of the tax increment financing agreement 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 previously identified as critical transportation
system improvements in the City capital improvement program; and
WHEREAS, it is necessary to amend the annual appropriations to provide sufficient
funding for the project.
NOW ~EFORE. BE IT ORDAINED by the Council of the City of Dublin, State of
Ohio, of the elected members concurring:
"... Section 1. There be advanced from the General Fund the amount of $250,000 to the
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L Perimeter Center TIF Fund for design costs associated with the public infrastructure
improvements. This advance is to be reimbursed to the General Fund from the
proceeds of a future debt issuance for the project.
Section 2. That there be appropriated from the unappropriated balance in the
Perimeter Center TIF Fund the amount of $250,000 to account 56-03-14-2349 for
design and other 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 Jr-f dayof ~ .1994.
,~ - Presiding Officer
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ATTEST:
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..... Clerk of Council
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