Resolution Number 2019 – 20
RESOLUTION 2019- 20
A RESOLUTION DECLARING THE OFFICIAL INTENT AND
REASONABLE EXPECTATION OF THE CITY OF ST. CLAIRSVILLE,
ON BEHALF OF THE STATE OF OHIO (THE BORROWER)
TO REIMBURSE ITS PERMANENT IMPROVEMENT PROJECTS FUND
FOR THE BELLVIEW SANITARY AND STORM SEWER
SEPARATION PROJECT, OPWC PROJECT NUMBER CR30W,
WITH THE PROCEEDS OF TAX-EXEMPT DEBT OF THE STATE OF OHIO
AND DECLARING AN EMERGENCY
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF ST. CLAIRSVILLE, OHIO, ON BEHALF OF THE STATE OF OHIO THAT:
Section 1: The City of St. Clairsville reasonably expects to receive a reimbursement for the Bellview Sanitary and Storm Separation Project as set forth in Appendix A of the Project Agreement with the proceeds of bonds to be issued by the State of Ohio.
Section 2: The maximum aggregate principle amount of bonds, other than for costs of issuance, expected to be issued by the State of Ohio for reimbursement to the local subdivision is $800,000.00 (Loan Amount).
Section 3: The Finance Director of the City of St. Clairsville is hereby directed to file a copy of this Resolution with this City for the inspection and examination of all persons interested therein and to deliver a copy of this Resolution to the Ohio Public Works Commission.
Section 4: The City of St. Clairsville finds and determines that all formal actions of this City concerning and relating to the adoption of this Resolution were taken in an open meeting of this City and that all deliberations of this City and any of its committees that resulted in those formal actions were in meetings open to the public, in compliance with all legal requirements.
Section 5: This Resolution is declared to be an emergency measure necessary for the immediate preservation of the public peace, health and the safety of the residents of the City of St. Clairsville so that the Finance Director may file the appropriate documentation regarding the project with the Ohio Public Works Commission.
Section 6: That this Resolution shall take effect and be in force from and after the earliest period allowed by the Charter of the City of St. Clairsville, Ohio.
The council of the City of St. Clairsville adopted legislation by a vote of 7 on this 16th day of September, 2019.