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PLACED ON 1ST READING & REFERRED TO FINANCE COMMITTE <br />1/22/02. PLACED ON 2ND READING 2/4/02. <br /> <br />ORDINANCE NO. 8-02 BY: <br /> <br /> Corrigan, Dunn, FitzGerald, <br />George, Roth, Seelie, <br /> Skindell. <br /> <br /> AN ORDINANCE creating a new section within Chapter 129 of the Codified <br />Ordinances of the City of Lakewood entitled HONE Investment Partnerships Program <br />Fund and authorizing the Director of Finance to request permission from the Auditor of <br />the State of Ohio for the establishment of such a fund. <br /> <br /> WHEREAS, budgeted revenue and expenditures and actual revenue and <br />expenditures of this grant are currently accounted for as part of the Community <br />Development Block Grant Special Revenue Fund (Fund 240), and <br /> <br /> WHEREAS, establishment of a' distinct fund will provide a separate and thorough <br />accounting for federal grant expenditures related to the HOME Investment Partnerships <br />Program, and <br /> <br /> WHEREAS, authorization from Council and permission from the Auditor of the <br />State of Ohio are required to establish such a fund. Now therefore, <br /> <br />BE IT RESOLVED BY THE CITY OF LAKEWOOD, STATE OF OHIO: <br /> <br /> Section 1. That new section 129.45, HOME Investment Partnerships Program <br />Fund, is hereby created to read as follows: <br /> <br /> All revenues derived from the HOME Investment Partnerships Program shall be <br />kept and maintained in a separate fund hereby designated the Home Investment <br />Partnerships Program Fund. All expenditures for program activities meeting the criteria <br />of the grant award shall be paid from this fund. <br /> <br /> Section 2. That the Director of Finance is hereby authorized to request <br />permission from the Auditor of State of Ohio to establish the HOME Investment <br />Partnerships Program Fund. <br /> <br /> Section 3. It is found and determined that all formal actions of this Council <br />concerning and relating to the passage of this resolution were adopted in an open <br />meeting of this Council, and that all such deliberations of this Council and any of-its <br />committees that resulted in such formal action, were in meetings open to the public, in <br />compliance with all legal requirements. <br /> <br />Adopted: <br /> <br />P~esident of Council <br /> <br />Approved: <br /> <br />Clerk of Council <br /> <br />Mayor <br /> <br /> <br />