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r? CITY OF NORTH OLMSTED ORDINANCE N0. 85 - 51 BY: RUSS BIERMAN AN ORDINANCE CREATING A CAPITAL IMPROVEMENT FUND ENTITLED "INFRASTRUCTURE FUND", AND DECLARING AN EMERGENCY. WHEREAS, the City of North Olmsted desires to permanently fund the repair and reconstruction of roadways, sidewalks, and storm sewers, and WHEREAS, for the purpose of accountability it is desirable to have a specific fund for such projects. NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF NORTH OLMSTED, COUNTY OF CUYAHOGA AND STATE OF OHIO: SECTION 1: That there is hereby created a Capital Improvement Fund entitled "INFRASTRUCTURE FUND". SECTION 2: That such fund shall be funded with the proceeds of notes in anticipation of,bonds, bonds, revenue received from Rocky River Municipal Court, interest, and such other funds as may from time to time be designated by Council to be placed in said fund. SECTION 3: That the Director of Finance is authorized to pay out of said fund, amounts of money expended for the purpose of repair and re- construction of roadways, sidewalks, and storm sewers. SECTION 4: That the Clerk of Council is hereby directed to forward certified copies of this Ordinance to both the County Auditor and the Auditor of the State of Ohio. SECTION 5: That this Ordinance is hereby declared to be an emer- gency measure immediately necessary for the preservation of the public health, safety, and welfare, and for the further reason it is necessary to establish said fund in conjunction with certain Capital Improvements, and further pro- vided it receives the affirmative vote of two-thirds of all members of Council, it shall take and?be in force immediately upon its passage and approval by the Ma3?r . ?ffect , 1 / , ,, r / PASSED: J"AMESS. BOEHMER, PRESIDENT OF COUNCIL ROBERT W. SWIETYNIOWSKI, MAYOR First reading: 1 .14 7. , Second reading: 12 tS Third reading: 1 Vetoed by Mayor on July 22, 1985 Motion to reconsider on September 3, 1985, failed.