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<br />By: Mayor Boyle <br />CITY OF NORTH OLMSTED <br />ORDINANCE NO. 97-79 <br />~~~~ <br />AN ORDINANCE TO ESTABLISH WITHIN THE CAPITAL <br />IlViPROVEMENT FUND GROUP A "PARKS AND RECREATION <br />CAPITAL M'ROVEMENT FUND" OF THE CITY OF NORTH <br />OLMSTED, AND DECLARING AN EMERGENCY. <br />Whereas, the Mayor and Council wish to establish a fund for the purpose of accounting <br />for capital improvement fluids set aside for the Division of Parks and Recreation; and <br />Whereas, Section 155.13 of the Codified Ordinances of the City of North Olmsted <br />requires that at least ten percent of the one-half mill recreation levy collected pursuant to Section <br />8(b) of the Charter of the City of North Olmsted be set aside each year for capital improvements; <br />and <br />Whereas, Council may from time to time set aside certain other funds for capital <br />improvements within the Division of Parks and Recreation. <br />NOW, THEREFORE, BE IT ORDAINED BY THE CITY OF NORTH OLMSTED, <br />COUNTY OF CUYAHOGA, AND STATE OF OHIO: <br />Section 1: That there is hereby created a Parks and Recreation Capital Improvement Fund <br />within the Capital Improvement Fund Group to account for funds set aside for capital <br />improvements within the Division of Parks and Recreation. <br />Section 2: That the ten percent of the one-half mill recreation levy collected pursuant to <br />Section 8(b) of the Charter of the City of North Olmsted designated for Division of Parks and <br />Recreation capital improvements that is collected after January 1, 1998 and any other funds that <br />Council may from time to time set aside for capital improvements for the Division of Parks and <br />Recreation be deposited and accounted for within the Parks and Recreation Capital Improvement <br />Fund herein established. <br />Section 3: That the Director of Finance be and is hereby directed to establish a Parks and <br />Recreation Capital Improvement Fund and to record receipts and expenditures consistent with <br />this ordmance. <br />Section 4: That the Clerk of Council shall immediately forward an attested copy of this <br />Ordinance to the Auditor of Cuyahoga County and the Auditor of the State of Ohio. <br />'~~81bT~`! ~e.n.Y~".+v:~~rt -. .. .-... ee-~rom ~Fn>'Y41i`u.u..es.......,r ,_,.,.,.,... wont ... .. <br />