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ORDINANCE NO. 94-55 PAGE TWO (b) Should the Mayor and Director of Finance determine that proportionate payments throughout the tax year would be more beneficial to the school district, and capable of being calculated and allocated by the administration, then the administration may make advanced proportionate payments throughout the tax year at their discretion. (c) Should the difference in the tax withheld in the fiscal year 1992 and the income tax withheld from the operations at the Progressive Casualty Insurance Company in any one of the fifteen (15) years provided for herein, be less than Four Hundred Fifty Thousand Dollars ($450,000.00), then no income tax revenue sharing will be allocated to the Mayfield School District. SECTION 2. That a certified copy of this ordinance shall be directed to the Superintendent of Schools, and to the Board of Education for the Mayfield School District. SECTION 3. The Council finds and determines that all formal actions of this Council relating to the adoption of this Ordinance have been taken at open meetings of this Council; and that deliberations of this Council and of its committees, resulting in such formal action, took place in meetings open to the public in compliance with all statutory requirements including the requirements of Section 121.22 of the Ohio Revised Code. SECTION 4. This Ordinance shall become effective upon its adoption by Council and signature by the Mayor or as may otherwise be provided for in law. MAxx Fzxi x, Council President First Reading: December 19 , 1994 Second Reading: Januarp 2 , 199;40& Amended Third Reading: --._ January 16 , 199,45 flANSED:---t-?-, Janua-ry 1 , 199,d5 ArE RUCE RINKE , Mayor ? APPROVED AS TO FORM */ J? EP W. DIEMERT,/ JR/ ? ( irector of Law 00-?A? ATTEST: DONNA J. H Clerk of Council