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RESOLUTION N0. 82- 48 <br />INTRODUCED BY: Counci,l President Mi,chaeT W. Spellman <br />A RESOLUTION ESTABLISHTNG AN EQUTPMENT REPLACEMENT <br />FUND WITHIN THE MUNICIPAL ACCOUNTING SYSTEM. <br />WHEREAS, Council hereby determines that it is desirable to <br />use reserve monies from the Gerieral Fund to establish an Equipment <br />Replacement Fund to be used for the replacemerit of equipment in the <br />various municipal departmerits; and <br />WHEREAS, no such fund now exists within the accounting system <br />of the Village; now, therefore, <br />BE TT RESOLVED BY THE COUNCIL OF MAYFIELD VILLAGE, OHIO, THA.T: <br />Section lo The Director of Finance is hereby authorized and <br />directe to establish, pursuant to Section 5705.12 of the Ohio <br />Revised Code, an Equipment Replacement Fund for use in replacing <br />equipment in the various departmerits of the Village and for no <br />other purpose. The Finance Director is further directed to notify <br />the'Bureau of Inspection and Supervision of Public Offices of the <br />passage of this Resolution and to seek approv,al thereof at the <br />earliest possible time. <br />Section 2. The Fquipment Replacement Fund shall be funded <br />by reserve monies in tfi e Gerieral Fund and from no other source except <br />as Council may, from time=to-time, in its sole discretion, transfer <br />from the General Fund as authorized by Section 5705.14 of the Ohio <br />Revised Code. <br />Section 3. That the Council finds and determines that all <br />formal actions of this Council relating to the adoption of this <br />Ordinance have beeri takeri at open meetings of th'is Council; and <br />that deliberations of this Council and of its committees, resulting <br />in such formal action, took place in meetings operi to the pubTic, <br />in compliance with all statutory requiremerits, including the require- <br />ments of Section 121.22 of the Ofiio Revised Code. <br />Section 4. This Resolution sha11 take effect at the earliest <br />time a owe y law. <br />First Reading: <br />Second Reading : JuLi iY, 1Y62 <br />Third Reading: <br />August 16, 1982 <br />PASSED: August 16, 19& <br />Cr'APPROVED : • _ 3,-Z <br />Ro ert G. -Bee e, Mayor Date <br />APPROVED AS TO FORM : ? '?"2/??' <br />Dale C. Feriel'i, Law Director <br />ATTEST: <br />`-E oise avnar?I'er o 'ouncll?-