Laserfiche WebLink
I <br />CITY OF NORTH OLMSTED <br />ORDINANCE 83 - 52 <br />BY: Ronald Wilamosky <br />AN ORDINANCE CREATING A NEW FUND, ADDING TO THE <br />FINANCIAL STRUCTURE OF THE CITY OF NORTH OLMSTED, <br />A FUND KNOWN AS THE "ENDOWMENT AND GRANT FUND", <br />AND DECLARING AN EMERGENCY. <br />WHEREAS, in the past all Department of Human Resources endowments, <br />grants, and general fund expenditures have been recorded in various funds, and <br />W?IEREAS, the Council believes a greater understanding, of the financial <br />positabn of the City, can be achieved through the establishment of one fund to <br />account for all such transactions. <br />NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF NORTH <br />OLMSTED, COUNTY OF CUYAHOGA, AND STATE OF OHIO: <br />SECTION 1: That there is hereby created a trust and agency fund <br />entitled the "Endowment and Grant Fund". That such fund will be funded with <br />the proceeds of all endowments and grants received. <br />SECTION 2: That the Director of Finance is authorized to pay out <br />of said fund, amounts of money in accordance with the provisions of such <br />endowments and grants, and as designated by Council. <br />SECTION 3: That this ordinance is hereby declared to be an eMergency <br />r.ieasure immediately necessary for the preservation of the public health, safety, <br />and welfare, and further provided it receives the affirmative vote of two- <br />thirds of all members elected to Council, it shall take effect, and be in force <br />immediately upon its passage and approval by the Mayor. <br />SECTION 4: That upon passage of the Ordinance, the Clerk of Council <br />is instructed to forward certified copies to the Auditor of State, Municipal <br />Division, Cleveland, Ohio, and the County Auditor's office. <br />PASSED: Ipf3 <br />ATTEST: ?. <br />lorence E. Campbell, Cle of Council <br />4 13 <br />jmeas D. Boehmer, President of Council <br />APPROVED : <br />Robert W. Swietyniowsk',M yor <br />First Reading: <br />Second Reading : <br />Third Reading: