1981 047 Ordinance - Laserfiche WebLink

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M,V. ORDINANCE NO. 81-47 (As Amended) Page -2- monies earned through the efforts of the Community Room Committee can be made only after the Project Manager first solicits the opinion of the Community Room Committee, or its duly authorized representative or representatives, as to such expenditure. In making a decision to expend monies from the Community Room Fund, the Council shall give recognition to the unexpended balance then in the fund and the propriety of the type of expenditure involved. Section~5. All monies earned for. the Community Room Fund by the Community Room Committee shall be invested by-the Finance Director in the manner she deems most advantageous to said fund. Any interest earned on monies invested by the Finance Director shall be attributed to the Community Room Fund on a pro-rata basis. Section 6. The Finance Director shall furnish a monthly report to the Community Room Committee detailing the status of the Community Room Fund including an itemization .of receipts and expenditures and a statement of the month-end balance. Section 7. This Ordinance is hereby, declared to be an emergency measure immediately necessary for the preservation of the health, safety and welfare of the residents of Mayfield Village in that the Village is currently holding amounts intended to be deposited for the purpose specified herein and the creation of this restricted fund will protect those monies on hand and clearly earmark them for the construction of a community room. It shall therefore take effect immediately upon passage by the affirmative vote of not less than five (5) members elected to Council and approval by the Mayor or otherwise at the earliest time allowed by law. Lawrence J. ly , President of Council PASSED: APPROVED- APPROVED Date =.er7 ATTEST: Eloise Maynard, Clerk of Council