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? . <br />CITY OF NORTH OLMSTED <br />RESOLUTION NO. 95-124 <br />BY: The Mayor and Entire City Council <br />A RESOLUTION IN SUPPORT OF LEGISLATION <br />THAT WOULD PROVIDE EXPRESS STATUTORY <br />AUTHORITY TO ESTABLISH FUNDS FOR THE <br />PURPOSE OF SETTING ASIDE CURRENT FISCAL <br />YEAR RESOURCES TO PAY ACCRUED BENEFITS <br />AND FUND FUTURE CAPITAL EXPENDITURES, <br />AND DECLARING AND EMERGENCY. <br />WHEREAS, the Ohio Revised Code is based on the concept that local <br />government resources should be used and collected for current expenditure needs which <br />are defined as funds required to meet cash expenditures for the current fiscal year; and <br />WHEREAS, current collective bargaining agreements and other contracts require <br />deferral of payments which accrue currently and must be paid during some future fiscal <br />year; and <br />WHEREAS, equipment used by the subdivision must be replaced at some future <br />time as a result of the normal wear and tear of everyday use; and <br />WHEREAS, the Ohio Revised Code's requirement that current revenues fund <br />current expenditures fails to provide funding for accrued benefits or for the replacement <br />of worn out equipment. <br />NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY <br />OF NORTH OLMSTED, COUNTY OF CUYAHOGA AND STATE OF OHIO: <br />SECTION 1: That it is the desire of this Council and administration to <br />recommend that the State Legislature enact express statutory authority for political <br />subdivision to establish reserve funds for the purpose of accumulating money for the <br />future payment of accrued obligations and the replacement of equipment. <br />SECTION 2: That the Clerk of Council is hereby directed to forward a copy of <br />this Resolution to President of the Senate Stanley J. Aronoff, Speaker of the House Jo <br />Ann Davidson, State Senator Gary Suhadolnik and State Representative Edward <br />Kasputis. <br />