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RESOLUTION NO. 2007-13 <br />INTRODUCED BY: Mayor Rinker and Council as a Whole <br />AN EMERGENCY RESOLUTION <br />PROVIDING FOR THE CREATION OF A <br />"COUNTY INNOVATION ZONE (CIZ) FUND" AND <br />AUTHORIZING THE DEPOSIT OF FUNDS INTO SUCH ACCOUNT <br />WHEREAS, it is the desire of Council to set aside monies for the purpose of addressing <br />numerous drainage and infrastructure issues in the Village. <br />NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF MAYFIELD <br />VILLAGE, OHIO, THAT: <br />SECTION l. That there is hereby and herein created a fund to be known as the "County <br />Innovation Zone (CIZ) Fund". The sources of monies deposited into said fund shall include but <br />will not be limited to the Excise Tax on Lodging as outlined in Chapter 171 of the Mayfield <br />Village Codified Ordinances, Cable Television Franchise Fees as described in Chapter 945.17 of <br />the Mayfield Village Codified Ordinances and other revenues as determined by Council from <br />time to time. Expenditures made from this fund will be for the purpose of paying the costs of <br />creating and operating the Mayfield CIZ, a 501(c)(3) whose mission will be the planning, <br />marketing and operating a County Innovation Zone throughout the Village, targeting in particular <br />businesses on Beta Drive, drainage and infrastructure issues and any other expenses authorized <br />by Council in relation to such issues. <br />SECTION 2. The Director of Finance is authorized and directed to establish said fund, <br />and to deposit monies therein as indicated by Council, and to make application to the Bureau of <br />Inspection of the State of Ohio for approval of the creation of the County Innovation Zone (CIZ) <br />Fund pursuant to the provisions of Ohio Revised Code Section 5705.12. <br />SECTION 3. The Council finds and determines that all formal actions of the Council <br />relating to the adoption of this Resolution have been taken at open meetings of this Council; and <br />that deliberations of this Council and of its committees, resulting in such formal action, took <br />place in meetings open to the public in compliance with all statutory requirements including the <br />requirements of Section 121.22 of the Ohio Revised Code.