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ORDINANCE NO. 96-31 <br />INTRODUCED BY: Mayor Rinker and Council as a Whole <br />AN EMERGENCY ORDINANCE <br />ADOPTIIVG AN INVESTMENT POLICY FOR MAYFIELD VILLAGE <br />WHEREAS, State law, as recently amended, now requires that the <br />Village adopt and maintain an investment policy for Village funds; <br />and <br />WHEREAS, the Finance Department's recommendations for an <br />investment policy are attached hereto and incorporated herein as <br />EXhibi.t "A1° . <br />NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF MAYFIELD <br />VILLAGE, OHIO, THAT: <br />SECTION 1. That the investment policy for the Village of <br />Mayfield as set forth in Exhibit "A", attached hereto and <br />incorporated herein by reference, is hereby and herein adopted. <br />SECTION 2. The Council finds and determines that all formal <br />actions of this Council relating to the adoption of this Ordinance <br />have been taken at open meetings of this Council; and that <br />deliberations of this Council and of its committees, resulting in <br />such formal action, took place in meetings open to the public, in <br />compliance with all statutory requirements including the <br />requirements of Section 121.22 of the Ohio Revised Code. <br />SECTION 3o This Ordinance is hereby declared to be an <br />emergency measure immediately necessary for the health, safety and <br />welfare of the residents of Mayfield Village, Ohio, and for the <br />further reasons set forth in the preamble hereof. It shall, <br />therefore, take effect immediately upon the passage by the <br />affirmative vote of not less than five (5) members elected to <br />Council and approval by the Mayor or otherwise at the earliest time <br />allowed by law. <br />MARK FIXL•ER <br />Council President <br />First Reading: September 16 , 1996 <br />Second Reading: suspended , 1996 <br />Third Reading: suspended , 1996 <br />Pfl- -f ?S:SED: eptember 16 , 1996 <br />DATE: <br />BR E RINKE , ayor