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.?. <br />. .. . „ ,.,,; <br />BY: Mayor Boyle <br />? <br />CITY OF NORTH OLMSTED <br />ORDINANCE N0. 90- 79 AN ORDINANCE TO ESTABLISH WIfiHIN THE SPECIAL REVENUE <br />FUND GROUP A"PERMANENT IMPROVEMENT AND SOLID WASTE <br />MANAGEMENT FUND - INCOME TAX" AND A"STREET AND STORM <br />WATER DRAINAGE SYSTEMS FUND - INCOME TAX" OF THE CITY <br />OF NORTH OLMSTED FOR PORTIONS OF THE CITY'S MUNICIPAL <br />INCOME TAX REVENUES, AND TO ESTABLISH ACCOUNTS WITHIN <br />THOSE FUNDS, AND DECLARING AN EMERGENCY. <br />WHEREAS, this Council has determined that 17% of the funds collected <br />from the municipal income tax levied under Title One of Part Fifteen of the <br />Codified Ordinances of the City of North Olmsted (the Codified Ordinances), <br />after payment of all expenses of collecting the tax and of administering and <br />enforcing the provisions of that Title, should be credited to a special fund <br />and used to pay costs of any permanent improvements for the City, including <br />the payment of debt charges on bonds and notes issued after 1990 for that <br />purpose, and costs (other than costs of compensating City employees) of <br />services and facilities for solid waste management, recycling and disposal; <br />WHEREAS, this Council has determined that 25% of the funds collected <br />from the municipal income tax levied under Title One of Part Fifteen of the <br />Codified Ordinances, after payment of all expenses of collecting the tax and <br />of administering and enforcing the provisions of that Title, should be cred- <br />ited to a special fund and used to pay costs of permanent improvements to the <br />City's street and storm water drainage systems, including the payment of debt <br />charges on bonds and notes issued after 1990 for those purposes, and costs <br />(other than costs of compensating City employees) of maintaining the City's <br />street and storm water drainage systems and providing related equipment; <br />WHEREAS, this Council has determined accordingly that it is necessary <br />to establish within the Special Revenue Fund Group a"Permanent Improvement <br />and Solid Waste Management Fund - Income Tax" and a"Street and Storm Water <br />Drainage Systems Fund - Income Tax" in order to provide for the application <br />and disbursement of those portions of the municipal income tax funds; <br />NOW THEREFORE, BE IT ORDAINED by the Council of the City of North <br />Olmsted, Cuyahoga County, Ohio, that: