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89-016 Ordinance
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89-016 Ordinance
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1/11/2014 12:32:00 PM
Creation date
1/2/2014 5:09:56 AM
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North Olmsted Legislation
Legislation Number
89-016
Legislation Date
3/3/1989
Year
1989
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,,,,- <br />-~ ~ '. <br />- 2 - <br />(b) Except as provided in Paragraphs (c) and (d) of this <br />Section 8, for all purposes of the municipality the Council may, <br />without a vote of the people, levy annually not more than eleven and <br />one-tenth (11.1) mills for each dollar of assessed valuation. Of <br />said levy, an amount shall annually be levied sufficient to pay the <br />interest, sinking fund and retirement charges on all general obli- <br />gation bonds and general obligation bond anticipation notes of the <br />municipality heretofore or hereafter authorized to be issued without <br />a vote of the electors, except to the extent Council determines that <br />such levy for certain bonds or notes issued for improvements to the <br />municipal sanitary sewerage system should be made pursuant to the <br />provisions of Paragraph (c) of this Section 8 or that such levy for <br />certain bonds or notes issued to pay costs of providing and improving <br />recreational facilities should be made pursuant to the provisions of <br />Paragraph (d) of this Section 8, which levy under this Paragraph (b) <br />shall be placed before and in preference to all other levies and for <br />the full amount thereof. Of the remaining portion of said levy, an <br />amount shall be levied annually sufficient to provide the amounts <br />required by law for police pensions (.3 mill) and firemen's pensions <br />(.3 mill); an amount shall be levied annually for the purpose of <br />paying the expense of recreation and providing recreational <br />facilities (.5 mill), and the balance thereof may annually be levied <br />for the purpose of paying the current operating expenses of the <br />municipality. <br />(c) Council may, wii:hout a vote of the people, levy annually in <br />addition to the eleven and one-tenth (11.1) mills provided for in <br />Paragraph (b) of this Section 8 and the seven-tenths (.7) of one mill <br />provided for in Paragraph (d) of this Section 8, such tax not in <br />excess of three (3) mills for each dollar of assessed valuation as <br />may be required to provide for the payment of (A) interest, sinking <br />fund and retirement charges on (i) general obligation bonds and <br />general obligation bond anticipation notes of the municipality issued <br />prior to January 1, 1987, without a vote of the electors, to provide <br />funds to pay costs of constructing improvements to the municipal <br />sanitary sewerage system; (ii) general obligation bonds and general <br />obligation bond anticipation notes of the municipality issued on or <br />after January 1, 1987, without a vote of the electors, to provide <br />funds to reimburse the municipality for expenditures made prior to <br />January 1, 1987, in anticipation of reimbursement from the proceeds <br />of such general obligation bonds or general obligation bond <br />anticipation notes, to pay costs of constructing improvements to the <br />municipal sanitary sewerage system; (iii) general obligation bonds <br />and general obligation bond anticipation notes of the municipality <br />issued from time to time without a vote of the electors to provide <br />funds to renew or refund the general obligation bonds and general <br />obligation bond anticipation notes described in clauses (i) and (ii) <br />and this clause (iii), and (B) amounts required to be paid by the <br />municipality in payment of any loan from the Ohio Water Development <br />Authority contracted for prior to January 1, 1987 for the purpose of <br />providing funds to pay costs of constructing improvements to the <br />municipal sanitary sewerage system and any loan from the Authority <br />contracted for to provide funds to retire general obligation bonds or <br />general obligation bond anticipation notes described in clauses <br />(A)(i), (ii) or (iii). <br />(d) Irx each of the tax years frem 1989 through 1998, Council <br />may, without a vote of the people, levy annually for collection in <br />each of the calendar years from 1990 through 1999, in addition to tkie <br />eleven and one-tenth (11.1) mills provided for in Paragraph (b) of <br />this Section 8 and the three (3) mills provided for in Paragraph (c) <br />of this Section 8, such tax not in excess of seven-tenths (.7) of one <br />mill for each dollar of assessed valuation as may be required to <br />provide funds for municipal recreational purposes, including payment <br />of (A) costs of providing permanent improvements for recreational <br />
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