94-045 Ordinance - Laserfiche WebLink

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-3- general obligation bond anticipation notes of the municipality issued from time to time, without a vote of the electors, to provide funds (i) to pay costs of providing and improving recreational facilities, or (ii) to provide funds to renew or refund general obligation bonds and general obligation bond anticipation notes issued for the purposes described in clause (i) and this clause (ii)." SECTION 2. If the foregoing proposal receives the affirmative vote of a majority of the electors voting thereon, then existing Section 8 of Article VIII shall be and the same is hereby repealed effective as of the date on which such amendment becomes effective. SECTION 3. It is the desire of the Council that the ballot for said question shall be in substantially the following form: PROPOSED CHARTER AMENDMENT A majority affirmative vote is necessary for passage. Shall Section 8 of Article VIII of the City Charter be amended to revise the limitation on the aggregate amount of taxes that may be levied by the City Council, without a further vote of the people, so as to authorize the City Council (A) to use proceeds of the 3.0 mill tax levy permitted by Paragraph (c) of that Section to pay annual debt service requirements on certain obligations incurred on or after January 1, 1987, to pay costs of improving the municipal sanitary sewer system, including (i) unvoted general obligation securities issued for that purpose or for the purpose of renewing or refunding other general obligation securities issued for that purpose, and (ii) loans from the Ohio Water Development Authority or other governmental sources incurred for that purpose or for the purpose of providing funds to retire securities described in clause (i); and (B) to levy annually an additional tax at a rate not exceeding one-half (.5) of one mill for a continuing period of time, beginning in tax year 1999, to provide funds for municipal recreational purposes, including payment of costs of permanent improvements and current operating expenses for those purposes and debt charges on unvoted general obligation securities issued (i) to pay costs of providing and improving recreational facilities, or (ii) to renew or refund securities issued for that purpose. Yes No SECTION 4. The Clerk of Council is authorized and directed to deliver a certified copy of this ordinance to the Board of Elections of Cuyahoga County no later than March 4, 1994. D03: [00523.DOCS.NOR05218]ORD_RE_CHARTER_AMDT-REC-1 2M.AA0