09/19/2011 Meeting Minutes - Laserfiche WebLink

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Minutes of the Regular Meeting of Council Monday, September 19, 2011 Page 11 First Reading of Resolution No. 2011-09, entitled, "A Resolution accepting the Amounts and Rates as determined by the Budget Commission and authorizing the necessary tax levies and certifying them to the County Fiscal Officer." Introduced by Mayor Rinker and Council as a Whole. Mr. Saponaro, seconded by Mrs. Cinco, made a motion to adopt Resolution No. 2011-09. Council President Buckholtz asked if there was any discussion. There was none. ROLL CALL: AYES: All NAYS: None Motion Carried Resolution Adopted First Reading of Resolution No. 2011-10, entitled, "A Resolution authorizing the Mayor to seek financial assistance from the State Issue I Infrastructure Bond Program for funding of Phase I of the sewer project on Eastgate, Meadowood, Ravine, Thornapple, Robley and a portion of Wilson Mills Road and declaring an emergency." Introduced by Mayor Rinker and Council as a Whole. Mr. Saponaro, seconded by Mrs. Mills, made a motion to adopt Resolution No. 2011-10. Council President Buckholtz asked, there's no dollar amount associated with this as of yet? Mr. Esborn replied, correct. ROLL CALL: AYES: All NAYS: None Motion Carried Resolution Adopted First Reading of Resolution No. 2011-11, entitled, "An Emergency Resolution declaring the necessity of a transfer of an amount not to exceed $17,285.39 from the Municipal Complex Center Fund of the Village to the Bond Retirement Fund of the Village in accordance with Ohio Revised Code 5705.14." Introduced by Mayor Rinker and Council as a Whole. Mr. Saponaro, seconded by Mrs. Mills, made a motion to adopt Resolution No. 2011-11. Council President Buckholtz asked if there was any discussion. Mr. Wynne stated, I will just make a comment on this so everybody knows what it is. According to the terms of our 2006 bond offering, any funds remaining at the end of five years, either from the bond proceeds or the earnings on those proceeds need to be returned to the Bond Retirement Fund to pay off the debt on those bonds. The five year time period is October 31St of this year. That's why we need to make this transfer. ROLL CALL: AYES: All NAYS: None Motion Carried Resolution Adopted