DRAFT RESOLUTION 05-X2 

Re: Authorizing Ohio Rail Development Commission Staff To Enter Into And Execute  Panhandle Rail Line Real Property Lease Documents.

 A RESOLUTION TO AUTHORIZE STAFF TO ENTER INTO AND EXECUTE ANY AND ALL PANHANDLE RAIL LINE REAL PROPERTY LEASE DOCUMENTS UNDER CHAPTER 4981 OF THE OHIO REVISED CODE.

             WHEREAS, this Commission as the Ohio Rail Development Commission (“ORDC”) created by Chapter 4981 of the Ohio Revised Code, has the authority pursuant to Revised Code Section 4981.08(A) to lease any rail property in which it has an interest for the continuation and operation of rail service; and

             WHEREAS, the ORDC is further authorized by Chapter 4981, Sections .14(9) and (18) to exercise all powers necessary or appropriate to carry out its corporate purposes including the authority to make and enter all agreements necessary to the performance of its duties and the execution of its powers; and

             WHEREAS, on April 16, 1992, the ORDC, via a complex financial transaction, acquired a contingent equitable and leasehold interest in the approximately one hundred and sixty mile long Panhandle Rail Line (“Panhandle”) ; and

            WHEREAS, the ORDC now desires to lease all of its interest in the real property of the Panhandle.

            NOW, THEREFORE, BE IT RESOLVED that the ORDC hereby authorizes its executive director, James E. Seney, and staff  to enter into and execute any and all documents necessary to lease ORDC’s interest in all of the real property located in the State of Ohio, Counties of Jefferson, Harrison, Tuscarawas, Coshocton, Muskingum, Licking and Franklin, and known as the Panhandle "Panhandle Mainline" consisting of  the real estate comprised  of  the  Weirton Secondary track located between Milepost 157.8 at Newark, Ohio, and Milepost 49.5 at the east side of Gould's Tunnel and the Columbus & Newark (“C&N”) track between Milepost 191.0 at Columbus and Milepost 157.8 at Newark, which is a total of 141.50 route miles of railroad line, and the "Panhandle Branchlines” including any and all the side track real estate including the Cadiz Running Track situated between Milepost 0.0 at Cadiz Junction to Milepost 12.8 at the Georgetown Mine; the Hebron Industrial Track between Milepost 133.0 at Hebron and Milepost 138.5 at Heath, Ohio; and the Trinway Secondary Track situated between Milepost 0.3 at its connection to the Panhandle Main Line, and Milepost 1.43 at Trinway, Ohio, which is a total of 19.43 route miles of railroad line to The Columbus & Ohio River Rail Company upon the terms and conditions to be established by the ORDC Executive Director and staff..

Moved By                                                         

Seconded By                                                    

Upon roll call, the vote resulted as follows:

James E. Betts, Chair                                     yes             no                absent                abstained                Recused

Howard Wood for Gordon Proctor                    yes              no                absent                abstained                Recused

Thomas Carton for Bruce Johnson                    yes              no                absent                abstained                Recused

James Hartung                                               yes              no                absent                abstained                Recused

Solomon Jackson                                          yes              no                absent                abstained                Recused

Thomas McOwen                                          yes              no                absent                abstained                Recused

Daniel Roberts                                               yes              no                absent                abstained                Recused

Larry Sowers                                                yes              no                absent                abstained                Recused

Herk Wolfe                                                   yes              no                absent                abstained                Recused

ORDC ACTION:                            Motion approved            

                                                         Motion denied                

Other action                      

Date