The Village approves the establishment and organization of a community improvement corporation known as the Grafton Community Improvement Corporation in accordance with Ohio R.C. Chapters 1702, 1724, and other applicable provisions of the Ohio Revised Code.
(Ord. 03-023. Passed 8-19-03.)
The Grafton Community Improvement Corporation shall be established and organized for the following purpose: to engage in any lawful act or activity for which corporations may be formed under Ohio R.C. Chapter 1702 including but not limited to:
(a) Borrowing money;
(b) Making loans;
(c) Purchasing, receiving, holding, leasing, or otherwise acquiring real or personal property in addition to selling, conveying, transferring, leasing, subleasing, or otherwise disposing of real and/or personal property, together with such rights and privileges as may be incidental thereto;
(d) Acquiring the good will, business, rights, real and personal property, and other assets, or any part thereof, or interest therein;
(e) Acquiring, subscribing for, or otherwise disposing of the stock, shares, bonds, debentures, notes or other securities and evidences of interest, in accordance with Ohio R.C. 1724.01 and 1724.02.
(Ord. 03-023. Passed 8-19-03.)