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CI9'Y OF Nf}RTS 0LMTkZ <br />ORDIRANCE N0. e.F/96 <br />, ,. <br />, <br />08DINANCE AIITHORIZING THE IlVESTMQIT OF THE PROCMB 0F <br />A MDRTGAG8 RWMUE BMM ISSUp AND DECLARING AN DMQiKC.`Y. <br />??. WHERWf the Di.reator of Fi.rianQe haa advised tha Mayort Council sud <br />Solicitor that there are available ftuida not required to be taaed ia the ogeration <br />of the City primr to 3une 1, 1961, which t'urids are herebg determined by said <br />Director of Fiyaanee a,s available for said investment and deeigna#ed and declared <br />by hia as inactive funds in his posseeaion in the affiount ot' $ <br />NOW, 2'SE.ftPF?$ BE IT OBDAIMD by the Council of the City of North <br />Qlmsted, State of Ohios <br />Seetiari ls Th.at the Director of Financo of the City of N'orth Ql.msted <br />is her*t+y authorized ta parchase short-term U. S. Treasurg Rotee or short-terz <br />U. S. Treasurg Bills ia the aaount of S. which sun has heretof ore <br />been determined by esid Director of Fi.xiaxa.ce an inaotive funrls nat requirsd to be <br />used by the City prior to Jtme l, 1961, and that sai.d parchaao is autharized uader <br />and by virtae of the provisian+e of Seatiaae 731•569 731•57. 731.58 and 731•59, <br />inclusive, mf the Revised Coc1e of the State of Ohio <br />Section 2s Tb,at this ordinance is hereby declared to be an energency <br />measuce neceesary for the immediate preservation of the public peacep hea2th, <br />safety aad general welfare of the City, aad such emergency, exist*;V,by virtuLe of <br />the necessity of persitting earninge an the eum of $ / " 1` ; f? desigsated by <br />the Director of F'inance as available funds not required to be used in the opsration <br />of the City of North Olmsted prior to June 1. 19610 wh3.ch inve$tment and puxohase <br />is for the best interests of the City and proteetive of the general welfare of the <br />City. <br />Seetion 3: Wherefore, this ordinance shaa.l take immediate effeet fromm <br />and after its passage, otherwise, at the earliest period allowed by law. <br />Passeds ('e...C!" 6 U <br />AT3'ES <br />.. <br />Louise Hall, Clerk of Council <br />r <br />; <br />? ?.._.? <br />Brucse MaoDonald, Preeideat of Ccur?cil <br />9PP s <br />/, <br />, <br />la 0,0-4.0. <br />?.? Patxl J. ` a?eau, I+Iayor <br />