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CITY OF NORTH OLMSTED ORDINANCE NO. 94- 45 BY: MAYOR ED BOYLE AN ORDINANCE PROVIDING FOR THE SUBMISSION TO THE ELECTORS OF THE CITY OF NORTH OLMSTED OF AN AMENDMENT TO SECTION 8 OF ARTICLE VIII OF THE CHARTER OF THE CITY OF NORTH OLMSTED TO REVISE THE LIMITATION ON THE AGGREGATE AMOUNT OF TAXES THAT MAY BE LEVIED BY THIS COUNCIL WITHOUT A VOTE OF THE PEOPLE SO AS TO AUTHORIZE THIS COUNCIL TO USE PROCEEDS OF THE THREE MILL TAX LEVY PERMITTED BY PARAGRAPH (C) OF THAT SECTION FOR THE PAYMENT OF DEBT CHARGES ON UNVOTED GENERAL OBLIGATION SECURITIES ISSUED, AND TO MEET PAYMENT REQUIREMENTS ON CERTAIN LOANS INCURRED, ON OR AFTER JANUARY 1, 1987, TO PAY COSTS OF CONSTRUCTING IMPROVEMENTS TO THE MUNICIPAL SANITARY SEWER SYSTEM AND TO LEVY ANNUALLY FOR A CONTINUING PERIOD OF TIME, BEGINNING IN TAX YEAR 1999, AN ADDITIONAL TAX AT A RATE NOT EXCEEDING ONE-HALF OF ONE MILL TO PROVIDE FUNDS FOR CERTAIN MUNICIPAL RECREATIONAL PURPOSES, AND DECLARING AN EMERGENCY. BE IT ORDAINED by the Council of the Ciry of North Olmsted, Cuyahoga County, Ohio, two-thirds of all members concurring, that: SECTION 1. Pursuant to Article XVIII, Section 9 of the Ohio Constitution and Article XII of the Charter of the City of North Olmsted, this Council authorizes and directs that the following proposal to amend the Charter of the Ciry of North Olmsted be submitted to the electors of the Ciry of North Olmsted at an election to be held at the usual places of voting in the Ciry on Tuesday, May 3, 1994: That existing Section 8 of Article VIII of the Charter be amended to read as follows: "SECTION 8: LIMITATION ON THE RATE OF TAXATION (a) The aggregate amount of taxes that may be levied by the Council without a vote of the people on taxable property assessed and listed for taxation according to value shall not exceed in any one year the aggregate of the amounts provided for in Paragraphs (b), (c) and (d) of this Section 8. All such taxes shall be levied by not less than atwo-thirds affirmative vote of the members of Council eligible to vote. (b) Except as provided in Paragraphs (c) and (d) of this Section 8, for all purposes of the mumcipaliry the Council may, without a vote of the people, levy annually not more than eleven and one-tenth (11.1) mills for each dollar of assessed valuation. Of said levy, an amount shall annually be levied sufficient to pay the interest, sinking fund and retirement charges on all general obligation D03: [00523.DOCS.NOR05218]ORD_RE_CHARTER_AMDT-REC-1_2M.AA0