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AMENDING ORDINANCES NO. ORD-0095-2007 AND ORD-0098-2007 TO REALLOCATE THE USE OF CERTAIN UNSPENT PROCEEDS OF THE CITY'S VARIOUS PURPOSE BONDS, SERIES 2007; AND TO DECLARE AN EMERGENCY
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WHEREAS, the City of Gahanna, Ohio (the "City") previously issued its $11,350,000 Various Purpose Bonds, Series 2007, dated July 31, 2007 (the "Bonds"), pursuant to the authority granted by five ordinances (collectively, the "Bond Ordinances") passed by City Council (the "Council") on May 21, 2007; and
WHEREAS, Bond Ordinance No. ORD-0095-2007 (the "Park Ordinance") authorized the issuance of up to $3,500,000 in bonds for the purpose of acquiring, renovating and improving municipal parks, including Hannah Park and Central Corridor Park, acquiring, renovating and improving playgrounds, recreational trails, and recreation facilities including the acquisition of real estate and interests in real estate, the construction, reconstruction, relocation, remodeling, enlargement and improvement of buildings and other structures, the acquisition of furnishings, apparatus, communications equipment and other equipment, landscaping and making site improvements, and all appurtenances relating thereto (collectively, the "Park Improvements"); and
WHEREAS, $33,660 (the "Unspent Proceeds") of the proceeds of the Bonds remain unspent and are no longer necessary for the purposes of the Park Improvements; and
WHEREAS, Bond Ordinance No. ORD-0098-2007 (the "Broadband Ordinance") authorized the issuance of up to $2,050,000 in bonds for the purpose of designing, engineering, planning and construction of fiber optic, cable and broadband service infrastructure improvements, including acquisition of land and interests in land necessary in connection therewith, to facilitate centralized data collection and meter reading, and all appurtenances relating thereto (collectively, the "Broadband Improvements"); and
WHEREAS, ORD-0075-2009 passed April 6, 2009 amended ORD-0095-2007 and ORD-0098-2007 by reallocating the use of certain unspent proceeds of the City's various purpose bonds, series 2007 and the determination has been made that funds that were transferred are needed for the broadband project; and
WHEREAS, the City now has need to use the Broadband Improvements, and the City desires (1) to amend the Park Ordinance to decrease the amount to be spent on the Park Improvements and (2) to amend the Broadband Ordinance to increase the amount to be spent on the Broadband Improvements; and
WHEREAS, it is imperative to complete this reallocation in order to complete the necessary projects in a timely fashion, and all for the preservation of the public peace, property, health, safety and welfare;
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF GAHANNA, STATE OF OHIO, THAT:
Section 1. The Park Ordinance (Ordinance No. ORD-0095-2007) is hereby amended as follows:
(a) The title of the Park Ordinance is hereby repealed and amended to read:
AUTHORIZING THE ISSUANCE OF BONDS IN THE AMOUNT OF NOT TO EXCEED $4,052,340 FOR THE PURPOSE OF ACQUIRING, RENOVATING AND IMPROVING MUNICIPAL PARKS, INCLUDING HANNAH PARK AND CENTRAL CORRIDOR PARK, ACQUIRING, RENOVATING AND IMPROVING PLAYGROUNDS, RECREATIONAL TRAILS, AND RECREATION FACILITIES INCLUDING THE ACQUISITION OF REAL ESTATE AND INTERESTS IN REAL ESTATE, THE CONSTRUCTION, RECONSTRUCTION, RELOCATION, REMODELING, ENLARGEMENT AND IMPROVEMENT OF BUILDINGS AND OTHER STRUCTURES, THE ACQUISITION OF FURNISHINGS, APPARATUS, COMMUNICATIONS EQUIPMENT AND OTHER EQUIPMENT, LANDSCAPING AND MAKING SITE IMPROVEMENTS, AND ALL APPURTENANCES RELATING THERETO, AUTHORIZING A BOND PURCHASE AGREEMENT APPROPRIATE FOR THE SALE OF THE BONDS, AUTHORIZING THE PURCHASE OF A MUNICIPAL BOND INSURANCE POLICY IN CONNECTION THEREWITH, AND AUTHORIZING AN OFFICIAL STATEMENT IN CONNECTION WITH THE SALE OF THE BONDS; AND TO DECLARE AN EMERGENCY.
(b) The second "Whereas" clause of the Park Ordinance is hereby repealed and amended to read:
WHEREAS, it is now deemed necessary to issue and sell not to exceed $4,052,340 of such bonds under authority of the general laws of the State of Ohio, including Chapter 133, Ohio Revised Code, and in particular Section 133.23 thereof, and the Charter of the City, for the purpose stated in the title of this ordinance;
(c) Section 1 of the Park Ordinance is hereby repealed and amended to read:
Section 1. It is hereby declared necessary to issue bonds of the City in the principal sum of not to exceed Four Million Fifty-Two Thousand Three Hundred Forty Dollars ($4,052,340), or such lesser amount as shall be determined by the Director of Finance and certified to this Council. The Bonds shall be issued in one lot.
Section 2. The Broadband Ordinance (Ordinance No. ORD-0098-2007) is hereby amended as follows:
(a) The title of the Broadband Ordinance is hereby repealed and amended to read:
AUTHORIZING THE ISSUANCE OF BONDS IN THE AMOUNT OF NOT TO EXCEED $1,497,660 FOR THE PURPOSE OF DESIGNING, ENGINEERING, PLANNING AND CONSTRUCTION OF FIBER OPTIC, CABLE AND BROADBAND SERVICE INFRASTRUCTURE IMPROVEMENTS, INCLUDING ACQUISITION OF LAND AND INTERESTS IN LAND NECESSARY IN CONNECTION THEREWITH, TO FACILITATE CENTRALIZED DATA COLLECTION AND METER READING, AND ALL APPURTENANCES RELATING THERETO, AUTHORIZING A BOND PURCHASE AGREEMENT APPROPRIATE FOR THE SALE OF THE BONDS, AUTHORIZING THE PURCHASE OF A MUNICIPAL BOND INSURANCE POLICY IN CONNECTION THEREWITH, AND AUTHORIZING AN OFFICIAL STATEMENT IN CONNECTION WITH THE SALE OF THE BONDS; AND TO DECLARE AN EMERGENCY.
(b) The second "Whereas" clause of the Broadband Ordinance is hereby repealed and amended to read:
WHEREAS, it is now deemed necessary to issue and sell not to exceed $1,497,660 of such bonds under authority of the general laws of the State of Ohio, including Chapter 133, Ohio Revised Code, and in particular Section 133.23 thereof, and the Charter of the City, for the purpose stated in the title of this ordinance;
(c) Section 1 of the Broadband Ordinance is hereby repealed and amended to read:
Section 1. It is hereby declared necessary to issue bonds of the City in the principal sum of not to exceed One Million Four Hundred Ninety-Seven Thousand Six Hundred Sixty Dollars ($1,497,660), or such lesser amount as shall be determined by the Director of Finance and certified to this Council. The Bonds shall be issued in one lot.
Section 3. All other provisions of the Broadband Ordinance and the Park Ordinance shall remain in full force and effect.
Section 4. The Director of Finance is hereby authorized to take all actions necessary to implement this ordinance.
Section 5. It is hereby found and determined that all formal actions of this Council concerning and relating to the passage of this Ordinance were taken in an open meeting of this Council, and that all deliberations of this Council and of any of its committees that resulted in such formal action were in meetings open to the public in compliance with all legal requirements, including Section 121.22 of the Ohio Revised Code.
Section 6. That, for the reasons set forth in the preamble hereinabove, this ordinance is declared emergency legislation and shall be in full force and effect upon passage by this Council and on date of signature approval by the Mayor.