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<br />Section 6; The ballot submitting the question of the adoption of the aforesaid ballot iss~e <br />shall read substantively as follow: <br /> <br />"Shall the City of Lake wood continue to tax an S corporation <br />shareholder's Ohio source distributive share of net profits of the <br />S corporation to the extent that it is currently permitted, and was <br />previously permitted prior to December 6, 2002, by the City of <br />Lakewoöd Municipal Income Tax Ordinance?" <br /> <br />YES <br /> <br />NO <br /> <br />A majority affirmative vote is necessary for passage <br /> <br />Section 7. This ordinance is hereby,declared to be an emergency measure necessary <br />for the immediate preservation of the public peace, property, health, safety and welfare in the City <br />and for the usual daily operation of the City for the reasons set forth ánd for the reason that this <br />Ordinance must be certified to the Board of Election immediately and without delay in order for <br />the question to appear at the general election to be held on November 2, 2004,and provided it <br />receives the affirmative vote of at least five (5) of its members elected to COlUlcil, this ordinance <br />shall take effect and be in force immediately upon it's adoption by the Çouncil and approval by <br />the Mayor otherwise, it shall take effect and be in force after the earliest period allowed by law <br /> <br />Section 8. It is found and determined that a11 formal actions òfthis Council cónceming <br />and relating to the passáge of this ordinance were adopted in an open meeting of this Council, and <br />that a11 such deliberations of this CoUncil and any of its committees that resulted in such formal <br />action were in meetings open to the public in compliance with all legal requirements <br /> <br />Àdopted: <br /> <br />~ 1'1,)(111':( <br /> <br />?~.LL <br /> <br />President <br /> <br />Cl}:U ~ <br /> <br />7~,. <br /> <br />Approved: r'..I'Q /11,. 'ðbøý <br /> <br />;J¡~, ~4~ <br />Mayor. / <br />