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? '. <br /> <br />CITY OF NORTH OLMSTED <br />ORDINANCE NO. 98-_12 <br />BY: COUNCIL PERSON CAROLYN KASLER <br /> <br />?at,?- G1a , , <br />eJ <br />AN ORDINANCE CREATING A NEW SECTION 135.08 OF THE CODIFIED <br />ORDINANCES OF THE CITYOFNORTH OLNfS'TED WHICHNEW SEC770NSHALL BE <br />E1V777ZED "SEGREGATIONOF FUNDS FOR CAPITAL IMPROVEMENT PROJECTS. " <br />WHERF.4.S, this council recognizes that it has a duty and obligation to provide the residents <br />of the City of North Olmsted with capital improvements that are solicited through the bidding <br />process; and <br />WHEREAS, this council further realizes that often times note issues that aze approved by <br />council are for multiple projects, and that once the various projects are bid, they often times come <br />in under the engineers estimate that was previously submitted to the Director requesting the authority <br />to advertise for bids; and <br />WHEREA.S, this council has been made aware of the fact that the Board of Control has <br />adopted a policy of not permitting change orders on contracts awazded by bid in excess of 10 % <br />of the original contract price without further action by the Board of Control; and <br />WHEREAS, this council has been made aware that on a number of occasions when certain <br />projects were bid that came below the engineers estimate, that the excess funds that were <br />borrowed for the project were used for other capital improvement projects under the same note <br />bonowing; and <br />WHEREAS, it is the desire of this council to control the expenditure of funds that aze <br />borrowed to the extent that when a contract is awarded by the Board of Control, that there be no <br />authority given to any Director to expend any more than the contra.ct price that was awarded, plus <br />10 % without further appropriation; and <br />WHEREAS, it is the belief of this council that if the director of finance is ordered to <br />segregate funds for various projects, so that when a contract is awarded as a result of public <br />bidding, that the amount segregated will be the contract price plus 10%, and that if there are any <br />change orders or requirements to expend more than that amount, those funds must be <br />reappropriated by council through ordinance. <br />NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF <br />NORTH OLMSTED, COUNTY OF CUYAHOGA AND STATE OF OHID: <br />SECTIONI: That there is hereby created a new Section 135.08 of Chapter 135 which new <br />Section sha11 be entitled "Segregation ofFunds for Capital Improvement Projects." <br />