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. <br />.. „PO <br />_ , * .. <br /> <br /> <br />? <br />CITY OF NORTH OLMSTED <br />ORDINANCE N0. 93-33 <br />By: Mayor Boyle and Councilman Lind <br />AN ORDINANCE TO ESTABLISH WITHIN THE SPECIAL <br />REVENUE FUND GROUP A"CLAGUE PARK IMPROVEMENT <br />FUND" OF THE CITY OF NORTH OLMSTED FOR THE <br />PROCEEDS OF THE SALE OF REAL ESTATE KNOWN AS <br />DEERFIELD NORTH HOMEOWNERS ASSOCIATION <br />RECREATIONAL AREA AND EXPENDITURES FOR <br />IMPROVING CLAGUE PARK. <br />WHEREAS, the City of North Olmsted will be receiving <br />real estate from the Deerfield North Homeowners Association; <br />and <br />WHEREAS, Council wishes to sell said real estate when <br />received; and <br />WHEREAS, Council wishes to expend the proceeds of the <br />sale of said real estate and any interest earned on said <br />proceeds for the improvement of Clague Park. <br />NOW, THEREFORE, BE IT ORDAINED BY THE CITY OF NORTH <br />OLMSTED, COUNTY OF CUYAHOGA, AND STATE OF OHIO: <br />SECTION 1: That there is hereby created a Clague Park <br />Improvement Fund within the Special Revenue Fund group to <br />account for revenues and expenditures related to the sale of <br />real estate known as Deerfield North Homeowners Association <br />Recreational Area and expenditures for improving Clague Park <br />SECTION 2: The the Director of Finance be and he is <br />hereby directed to establish a Clague Park Improvement Fund <br />and to record receipts and expenditures consistent with this <br />ordinance. <br />SECTION 3: That the Clerk of Council shall immediately <br />forward an attested copy of this ordinance to the Auditor of <br />Cuyahoga County and the Auditor of the State of Ohio.