Title
TO AUTHORIZE THE MAYOR TO ENTER INTO A STATE INFRASTRUCTURE BANK (SIB) LOAN AGREEMENT #110004 WITH THE OHIO DEPARTMENT OF TRANSPORTATION FOR THE TECHCENTER DRIVE EXTENSION PROJECT; IMPROVEMENT NO. 762; AND TO DECLARE AN EMERGENCY.
Drafter
dj
Body
WHEREAS, the TechCenter Drive Extension Project, Improvement No. 762, will be under construction in 2011, but the federal funds to pay for the project will not be available until 2012 and 2013; and
WHEREAS, the City Engineer has obtained a SIB Loan from ODOT to provide the funds necessary for the construction next year; and
WHEREAS, it is imperative to move forward with this loan so that construction can begin on time next year, 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:
Section 1. That the Mayor is hereby authorized to enter into a State Infrastructure Bank Loan Agreement #110004 with The OHIO DEPARTMENT OF TRANSPORTATION, 1980 West Broad Street, Columbus, Ohio 43223, for the TechCenter Drive Extension project; Agreement attached as EXHIBIT A, and made a part herein.
Section 2. That, for the reasons set forth in the preamble herein above, this ordinance is declared emergency legislation and shall be in full force and effect immediately upon passage by this Council and on date of signature approval by the Mayor.