TITLE
A RESOLUTION DECLARING THE OFFICIAL INTENT AND REASONABLE EXPECTATION OF THE CITY OF GAHANNA ON BEHALF OF THE STATE OF OHIO (THE BORROWER) TO REIMBURSE ITS 3230-OPWC FUND FOR THE CC17AA / CC18AA, TAYLOR STATION ROAD AND CLAYCRAFT ROAD ROUNDABOUT WITH THE PROCEEDS OF TAX-EXEMPT DEBT OF THE STATE OF OHIO
BODY
WHEREAS, City Council approved RES-0025-2022 authorizing the Mayor to prepare and submit an application for the 2022 Ohio Public Works Commission Round 37 grant/loan funding opportunity and authorize the Finance Director to establish a special fund for the proceeds; and
WHEREAS, the City was awarded $999,999 for the Taylor Station and Claycraft Roads Roundabout Project, consisting of $248,999 in grant funds and $751,000 in loan funds; and
WHEREAS, the roundabout project was completed during the 2024 construction season, and the Administration is now in the process of requesting repayment terms for the loan portion of the funding.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF GAHANNA, COUNTY OF FRANKLIN, STATE OF OHIO, THAT:
Section 1. The City of Gahanna reasonably expects to receive a reimbursement for the Project named Taylor Station Road and Claycraft Road Roundabout 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 principal 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 $999,999.00.
Section 3. The Fiscal Officer of the City of Gahanna is hereby directed to file a copy of this Resolution with the City of Gahanna for 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 Gahanna 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 the Cit...
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