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CITY OF NORTH OLMSTED <br />ORDINANCE N0. 83 - 86 <br />BY: Ron Wilamosky <br /> <br />AN ORDINANCE CREATING A NEW FUND, ADDING TO THE FINANCIAL <br />STRUCTURE OF THE CITY OF NORTH OLMSTED, A FUND KNOWN AS <br />THE FACILITY PLAN STEP III - SYSTEM FUND, AND DECLARING <br />AN EMERGENCY. <br />WHEREAS, the City of North Olmsted is to receive several grants to <br />assist in the construction, improvement, and rehabilitation of the Sanitary <br />Sewer System, and <br />Whereas, the Council believes a greater understanding of the financial <br />position of the City can be achieved through the establishment of one fund to <br />account for all related 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 Capital Improvement Fund <br />entitled the "Facility Plan Step III - Systems Fund". That such fund will be <br />funded with the proceeds of grants, aids, interest, and transfers. <br />SECTION 2. That the Director of Finance is authorized to pay out of <br />said fund, amounts of money in accordance with the provisions of such grantsL l <br />and aids, contracts, and as designated by Council. <br />SECTION 3. That this ordinance is hereby declared to be an emergency <br />measure immediately necessary for the preservation of the public health, safety, <br />and welfare, and further provided it receives the affirmative vote of two-thirds <br />of all members of Council, it shall take effect, and be in force immediately <br />upon its passage and approval of the Mayor. <br />SECTION 4. That upon passage of the Ordinance, the Clerk of Council <br />is instructed to forward certified copies to Thomas Ferguson, Auditor of the <br />State of Ohio and J. Timothy McCormack, Cuyahoga County Auditor. <br />PASSED <br />ATTEST: <br />FLORENCE E. CAMPBELL, CLERK OF COUNCIL <br />JAMES D. BOEHMER, PRESIDENT OF COUNCIL <br />APPROVED: <br />ROBERT W. SWIETYNIOWSKI, MAYOR <br />First Reading: S- ,j <br />Second Reading: 7 3 <br />Third reading: (