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.:? <br />CITY OF NORTH OLMSTED <br />ORDINANCE NO. 99-29 <br />BY: MAYOR MUSIAL <br />O <br />AN ORDINANCE TO TRANSFER FUNDS FROM THE BUS FUND <br />TO THE GENERAL FUND IN TBE AMOUNT OF $120,153 FOR <br />MATERIALS AND PARTS REIlVIBURSEMENT FUNDS RECEIVED <br />FROM THE GREATER CLEVELAND REGIONAL TRANSIT AUTHORITY <br />IN THE 1995 AND 1996 ANNUAL AUDITS OF TBE NORTH OLMSTED <br />MUNICIl'AL BUS LINE, IN WHICH TBESE MATERIALS AND PARTS <br />WERE OWNED BY THE CITY OF NORTH OLMSTED, AND DECLARING <br />AN EMERGENCY. <br />WHEREAS, the North Olmsted Municipal Bus L'me has received reimbursement from the <br />Greater Cleveland Regional Transit Authority for materials and parts used from its <br />inventory in 1995 and 1996, and; <br />WHEREAS, this reimbursement is based upon $72,740 for the 1995 audit, which funds <br />were received on January 21, 1997, and $47,413 for the 1996 audit, which funds were <br />received on November 7, 1997, and both were deposited into the Bus Fund, and; <br />WHEREAS, the Administration recommends that this total amount of $120,153 be <br />transferred to the General Fund since these funds have remained in the Bus Fund for <br />materials and parts sold by the North Olmsted Municipal Bus Line, which were owned and <br />shown on the balance sheets of the City of North Olmsted, and for which these funds are <br />needed for other municipal purposes. <br />NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF <br />NORTH OLMSTED, COUNTY OF CUYAHOGA, AND STATE OF OHIO: <br />Section 1: That this ordinance is hereby declared to be an emergency measure <br />immediately necessary for the preservation of the public health, safety and welfare, and for <br />the fixrther reason that these funds are needed for other municipal purposes, and further <br />provided it receives the affirmative vote of two-thirds of all members of Council, it shall <br />take effect and be in force immediately upon its passage and approval by the Mayor. <br />