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~ # ~ <br /> <br /> <br /> <br />c <br />BY ~~ <br />CITY OF NORTH OLMSTED <br />ORDINANCE N0. <br /> <br />AN ORDINANCE PROVIDING FOR THE SUBMISSION TO THE <br />ELECTORS OF THE CITY OF NORTH OLMSTED OF A PROPOSED <br />AMENDMENT TO THE CHARTER OF THE CITY OF NORTH OLMSTED <br />RELATING TO THE LIMITATION ON THE AMOUNT OF TAXES <br />THAT MAY BE LEVIED BY THE COUNCIL OF THE CITY WITHOUT <br />A VOTE OF THE PEOPLE, AND DECLARING AN EMERGENCY. <br />WHEREAS, pursuant to the Charter of the City and the Constitution <br />of the State of Ohio, this Council has determined to authorize and direct <br />the submission to the electors of the City of North Olmsted of the proposed <br />Charter amendment hereinafter set forth, at a special election to be held <br />on i7~ttd/.Z Ri, 1977, which election is not less than 60 nor more than <br />120 days from the date of passage of this ordinance; <br />NOW, THEREFORE, BE IT ORDAINED by the Council of the City of North <br />Olmsted, Cuyahoga County, Ohio, two-thirds of all members concurring: <br />Section 1. That this Council hereby authorizes and directs the <br />submission to the electors of the City of North Olmsted at a special election <br />to be held at the usual places of voting in said City on Tuesday, 3~.L,Z. , <br />1977, the following proposal to amend the Charter of the City of North Olmsted: <br />That Section 8 of Article VIII of the Charter to be amended <br />to authorize the levy of an additional tax at a rate not <br />exceeding three mills for the purpose of paying the annual <br />debt service requirements on unvoted general obligation bonds <br />issued prior to January 1, 1976 for improvements to the <br />sanitary sewerage system and of making payments to the Ohio <br />Water Development Authority on its loan to the City for <br />improvements to the sanitary sewerage system, such amended <br />Section 8 of Article VIII to read as follows: <br />"SECTION 8: LIMITATION ON THE RATE OF TAXATION <br />(a) The aggregate amount of taxes that may be levied by the <br />Council without a vote of the people on taxable property assessed <br />and listed for taxation according to value shall not exceed in <br />any one year the aggregate of the amounts provided for in Paragraphs <br />(b) and (c) of this Section 8, and all such taxes shall be levied <br />by not less than a two-thirds affirmative vote of the members of <br />Council eligible to vote. <br />(b) Except as provided in Paragraph (c) of this Section 8, <br />for all purposes of the municipality the Council may, without a vote <br />of the people, levy annually not more than eleven and one-tenth (11.1) <br />mills for each dollar of assessed valuation. Of said levy, an amount <br />shall annually be levied sufficient to pay the interest, sinking fund <br />and retirement charges on all general obligation notes and bonds of <br />the municipality heretofore or hereafter authorized to be issued <br />without the authority of the electors, except to the extent Council <br />determines that such levy for bonds issued for improvements to the <br />municipal sanitary sewerage system should be made pursuant to the <br />provisions of Paragraph (c) of this Section 8, which levy under this <br />Paragraph (b) shall be placed before and in preference to all other <br />