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TO AUTHORIZE THE MAYOR TO SIGN A GROUND LESSOR ESTOPPEL CERTIFICATE; FOR LAND LEASED TO THE YOUNG MEN'S CHRISTIAN ASSOCIATION OF CENTRAL OHIO, AND TO DECLARE AN EMERGENCY
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WHEREAS, the City entered into a ground lease with the YMCA of Central Ohio dated February 22, 2002; and
WHEREAS, the YMCA is in the process of refinancing their debt and need a letter of affirmation by way of a Ground Lessor Estoppel Certificate; and
WHEREAS, it is imperative to allow the Mayor to sign this certificate so the refinancing process may be completed, 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 sign a Ground Lessor Estoppel Certificate, said Certificate attached to this ordinance as EXHIBIT A, and made a part herein.
Section 2. That, for the reasons set forth in the preamble hereinabove, 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.