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<br />Resolution No. 2008-89 <br />Page 2 <br />NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CIT Y OF <br />NORTH OLMSTED, COUNTY OF CUYAHOGA, AND STATE OF OHIO: <br />SECTION 1: That the Council of the City of North Olmsted urges the National Credit <br />Union Administration, the Federal Reserve Board, and the Office of Thrift Supervision ta adopt <br />the reforms proposed for the Federal Trade commission Act, Truth in Savings Act, and Truth in <br />Lending Act to protect consumers from unfair and abusive practices by the credit card industrv. <br />SECTION 2: That the Clerk of Council is hereby directed to transmit a fully attested <br />copy of this Resolution to the National Credit Union Administration, the Federal Reserve Board, <br />the Office of Thrift Supervision, and the members of Ohio's Congressional delegations via Ohio <br />Treasurer Richard Cordray's office. <br />SECTION 3: That this Resolution is hereby declared to be an emergency measure <br />immediately necessary for the preservation of the public health, safety and welfare; and further <br />for the reason that it is necessary that this Resolution go into effect immediately as the public <br />comment period will close on August 4, 2008; and further provided it receives the affirmative <br />vote of two-thirds of all members of this Council, it shall take effect and be in force immediately <br />upon its passage and approval by the Mayor. <br />PASSED: <br />First Reading: _ <br />Second Reading: <br />Third Reading: _ <br />Committee: <br />/'?• .v? <br />ATYEST: <br />/ BARBARA L. SEMAN <br />( Clerk of Council ?.-.- <br />APPROVED: ?411? ?? <br />Cj-- <br />MAYOR THOMAS E. O'GRADY <br />?. <br />KEV1N M. KE DY ? <br />President of Council <br />APPROVED AS TO LEGAL FORM: <br />/s/ James M. Dubelko <br />JAMES M. DUBELKO <br />Director of Law