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<br />-- <br /> <br />I <br />\ <br /> <br />OROINANCE NO. <br /> <br />4-81 <br /> <br />BY: Wendling, Brown, Chinnock, <br />Gallagher, Graham, McBride, <br />Sa 1 mon <br /> <br />AN EMERGENCY OROINANCE authorizing the City Engineer to locat~ buyers <br />and sell entitlements received by the City of Lakewood under the Oolfiestic <br />Petroleum Entitlements Program. <br /> <br />WHEREAS, the City of Lakewood has been approved as a fuel producer <br />under the Domestic Petroleum Entitlements Program and will, upon application, <br />periodically receive Entitlements which have a predetermined designated market <br />value~ and <br /> <br />WHEREAS, these Entitlements only have value if they are sold to <br />authorized buyers of said Entitlements, and <br /> <br />~HEREAS, the authorized sales price of these Entitlements is <br />specified by the federal agency which issues the Entitlements, and <br /> <br />WHEREAS, it is in the best intersts of the City to make application <br />for the aforementioned Entitlements, locate buyers for same and to sell said <br />Entitlements at the earliest feasible time after the Entitlements ßre issued; <br />now, therefore, <br /> <br />OHIO: <br /> <br />BE IT ORDAINED BY THE COUNCIL OF THE CITY OF LAKEWOOD, STATE OF <br /> <br />Section 1. That the City Engineer be and he is hereby authorized <br />and directed to make application, locate available buyers and sell Entitlements <br />as may be received by the City of Lakewood under the Domesti c Petroleum <br />Entitlements Program, and the previöus sale of entitlements is hereby ratifier:!. <br /> <br />Section 2. That the Finance Director is hereby authorized and directed <br />to deposit monies received from the sale of the Entitlements referred to in <br />Sectiün 1 hereof in the Wastewater Treatment Fund. <br /> <br />Section 3. It is found and determined that all formal actions of this <br />Council concerning and relating to the passage of this ordinance. were adopted <br />in an open 'meeting of this Council, and that all such deHberationsof this <br />Council and any of its committees that resulted in such formal action, were in <br />meetings open to the public and complies with all legal requirements including <br />Section 121.22 of the Ohio Revised Code. <br /> <br />Section 4. That this ordinance is hereby declared to be an emergency <br />measure for the reasons stated in the preamble hereof and provided it receives <br />the affirmative vote of two-thirds of all members elected to Council, it shall <br />take effect and be in force immediately upon its adoption and approval by <br />the Mayor; .otherwise it shall take effect and be in force after the earliest <br />period allowed by law. <br /> <br />Adopted: ~U7 /9, lýf/ <br />t/ <br /> <br />#~~4:#?f¿fÆr¿ <br />~~ <br /> <br />APproved~~ dó¡ /ty / <br /> <br />~ <br />:..*~ <br />.. ayor <br />