Laserfiche WebLink
<br />Chapter 135, Director of Finance <br />135.08 SEGREGATION OF FUNDS FOR CAPITAL IMPROVEMENT PROJECTS <br />Upon the awarding of any contract for a public improvement by the Board of Control of the <br />City ofNorth Olmsted, the Director of Finance shall establish a separate fund for said project. Said <br />fund shall be in an amount which represents the amount of the contract that was awardexi by the <br />Board of Corrirol, plus 100/o. In no event shall the Director of Finance pay out more than said amount <br />so segregated, unless and until the City council authorizes the apgropriation of additional funds <br />consistent with the needs demonstrated by the appropriate Director for additions to the contract or <br />change orders that aze required for the completion for the project. <br />SECTION 2: That any ordinance or parts of any ordinances inconsistent herewith aze <br />hereby repealed. <br />SECTION 3. 1'hat this Ordinance shall take effect and be in force from and after the <br />earliest period allowed by law. <br />PASSED: <br />First Reading: <br />Second Reading: <br />Third Reading: , <br /> <br /> <br />A7TEST.• <br />BARBARA L. SEMAN <br />Clerk of Council <br />JANET A. SARINGER <br />Presiderrx of Council <br />APPROVED: <br />MAYOR NORMAN MUSIAL <br />APPROVED AS TO LEGAL FORM <br />MICHAEL R. GARF.AU <br />Director of Law <br />