3721 - 56 Request funds for Capital Outlay & Depreciation Fund"

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RESOLUTION NO, 3721 BY Mr. Fairgrieve A RESOLUTION requesting the bureau of inspection and supervi- sion of public offices of the State of Ohio, for approval to transfer, each year, to the "Capital Outlay and Depreciation ~und" from the "General Water Fund., an amount equal to ten cents per thousand cubic feet of water sold dmring the year ending with said surplus; provided, however, that the amount so transferred shall be limited to the excess over fifty thousand dollars in the "General Water Fund" at the end of each such year. WHEREAS, Council, by Resolution No. 2912, on December 7,1936, established a "Capital Outlay and Depreciation Famd"; and EEREAS, The amount in such "Capital Outlay amd Depreciation Fmnd", as or,ay 31. 1956, was eight thousand nine hundred~ twenty Dollars and thirty four eeuts; and WHEREAS, This Council deems it necessary to provide additi~nal funds for the repairs, enlargement er extension ef the water works, now, therefore, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF LAKEWOOD, STATE OF OHIO: Section 1. That application be made, to the bureau of inspec- tion and supervision of public offices, for authority to transfer, each year, to the "Capital Outlay and Depreciation Fmnd" from the "General Water Fund", an amount equal to ten cents per thousand cubic feet of water sold during the year ending with said surplus; provided, however, that the amount so transferred shall be limited to the excess over fifty thousand dollars in the water ~mnd at the end of each year; and that the Mayor, as Director of Public Works, be and he is hereby authorized to make such application and forward, to the bureau of in- spection and supervision of public offices of the State of Ohio, a certified copy of this resolution. Section 2. That upon receipt of approval ef such request, an ordinance be prepared for Council, authorizing the transfer, each year, of an amount equal to ten cents per thousand cubic feet of water sold during the year ending with said surplus; provided, however, that the amount so transferred shall be limited to the excess over fifty thousand dollars iu the "General Water Fund" at the end of each such year. Section 3. That this resolution shall take effect and be in force upon its passage and approval by the Mayor and at the earliest period allowed by law. Adopted: July 2. 1~6 Approved: July 3. 1956 Thomas C. Ward President H. A. Roes Clerk Frank P. Celeste Mayor