94-045 Ordinance - Laserfiche WebLink

Home Browse Search

. -2- bonds and general obligation bond anticipation notes of the municipality heretofore or hereafter authorized to be issued without a vote of the electors, except to the extent Council determines that such levy for certain bonds or notes issued for improvements to the municipal sanitary sewer system should be made pursuant to the provisions of Paragraph (c) of this Section 8 or that such levy for certain bonds or notes issued to pay costs of providing and improving recreational facilities should be made pursuant to the provisions of Paragraph (d) of this Section 8, which levy under this Paragraph (b) shall be placed before and in preference to all other levies and for the full amount thereof. Of the remaining portion of said levy, an amount shall be levied annually sufficient to provide the amounts required by law for police pensions (.3 mill) and firemen's pensions (.3 mill); an amount shall be levied annually for the purpose of paying the expense of recreation and providing recreational facilities (.5 mill), and the balance thereof may annually be levied for the purpose of paying the current operating expenses of the municipality. (c) Council may, without a vote of the people, levy annually in addition to the eleven and one-tenth (11.1) mills provided for in Paragraph (b) of this Section 8 and the millage provided for in Paragraph (d) of this Section 8, such tax not in excess of three (3.0) mills for each dollar of assessed valuation as may be required to provide for the payment of (A) interest, sinking fund and retirement charges on (i) general obligation bonds and general obligation bond anticipation notes of the municipality issued without a vote of the electors to provide funds to pay costs of constructing improvements to the municipal sanitary sewer system; and (ii) general obligation bonds and general obligation bond anticipation notes of the municipality issued from time to time without a vote of the electors to provide funds to renew or refund the general obligation bonds and general obligation bond anticipation notes described in clause (i) and this clause (ii), and (B) amounts required for the repayment of any loan to the municipality from the Ohio Water Development Authority or from any other governmental source incurred for the purpose of providing funds to pay costs of constructing improvements to the municipal sanitary sewer system or to provide funds to retire general obligation bonds or general obligation bond anticipation notes described in clauses (A)(i) or (ii). (d) Council may, without a vote of the people, levy annually, in addition to the eleven and one-tenth (11.1) mills provided for in Paragraph (b) of this Section 8 and the three (3.0) mills provided for in Paragraph (c) of this Section 8, (1) in each of the tax years from 1989 through 1998, for collection in each of the calendar years from 1990 through 1999, a tax not in excess of seven-tenths (.7) of one mill for each dollar of assessed valuation, and (2) for a continuing period of time, beginning in tax year 1999 for collection in calendar year 2000, a tax not in excess of one-half (.5) of one mill for each dollar of assessed valuation; in each case to provide funds for municipal recreational purposes, including payment of (A) costs of providing permanent improvements for recreational purposes, (B) current operating expenses for recreational purposes, and (C) interest, sinking fund and retirement charges on general obligation bonds and D03:[00523.DOCS.NOR05218]ORD_RE CHARTER AMDT-REC-1 2M.AA0