City of Hudson, Ohio - File #: 23-115

• File #: 23-115
• Version: 1
• Type: Ordinance
• Status: Passed
• File created: 8/29/2023
• In control: City Council
• On agenda: 10/17/2023
• Final action: 10/17/2023
• Title: AN ORDINANCE PROVIDING FOR THE ISSUANCE AND SALE OF $7,500,000 OF NOTES, IN ANTICIPATION OF THE ISSUANCE OF BONDS, FOR THE PURPOSE OF PAYING COSTS OF IMPROVING CITY-OWNED PROPERTY LOCATED AT 5810 HUDSON DRIVE BY CONSTRUCTING, FURNISHING, EQUIPPING AND OTHERWISE IMPROVING (i) A NEW SALT STORAGE FACILITY AND (ii) A NEW BUS MAINTENANCE AND STORAGE FACILITY AND CLEARING, IMPROVING AND EQUIPPING THE SITE. Brief Description: This ordinance allows for the refinancing of existing financial obligations of the City. It allows for the sale of notes to finance the cost of the new bus garage and salt storage facility.
• Sponsors: Jeffrey L. Anzevino
• Indexes: Finance - Bonds and Notes
• Related files: 22-124, 20-119, 19-155, 18-165, 17-193, 17-135, 24-113

Date	Ver.	Action By	Action	Result
10/17/2023	1	City Council	adopted on third reading	Pass
10/10/2023	1	City Council Workshop	item forwarded
10/3/2023	1	City Council	second reading
9/26/2023	1	City Council Workshop	item forwarded
9/19/2023	1	City Council	first reading
9/12/2023	1	City Council Workshop	item forwarded

Title
AN ORDINANCE PROVIDING FOR THE ISSUANCE AND SALE OF $7,500,000 OF NOTES, IN ANTICIPATION OF THE ISSUANCE OF BONDS, FOR THE PURPOSE OF PAYING COSTS OF IMPROVING CITY-OWNED PROPERTY LOCATED AT 5810 HUDSON DRIVE BY CONSTRUCTING, FURNISHING, EQUIPPING AND OTHERWISE IMPROVING (i) A NEW SALT STORAGE FACILITY AND (ii) A NEW BUS MAINTENANCE AND STORAGE FACILITY AND CLEARING, IMPROVING AND EQUIPPING THE SITE.
Brief Description: This ordinance allows for the refinancing of existing financial obligations of the City. It allows for the sale of notes to finance the cost of the new bus garage and salt storage facility.
Body
Legislative History
17-135 - Resolution authorizing the City Manager to advertise for bids and enter into contract for construction of new Hudson City Schools bus garage facility and city salt storage structure.
17-193 - Ordinance authorizing issuance and sale of $500,000 of notes in anticipation of bonds for construction of salt storage facility and bus maintenance facility.
18-165 - Ordinance authorizing issuance and sale of $7,500,000 of notes in anticipation of bonds for construction of salt storage facility and bus maintenance facility.
19-155 - Ordinance authorizing issuance and sale of $7,725,000 of notes in anticipation of bonds for construction of salt storage facility and bus maintenance facility.
20-119 - Ordinance authorizing issuance and sale of $7,725,000 of notes in anticipation of bonds for construction of salt storage facility and bus maintenance facility.
22-124 - Ordinance authorizing issuance and sale of $7,720,000 of notes in anticipation of bonds for construction of salt storage facility and bus maintenance facility.
Purpose & Explanation
The purpose of this ordinance is to allow the sale of notes to finance the construction of the new bus garage and salt storage facility. We intend to roll the notes into bonds as part of the Downtown Phase 2 project. The debt service payments for this project will come from proceeds from Ta...