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3179 Ordinance
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3179 Ordinance
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Last modified
2/3/2014 10:10:15 AM
Creation date
1/23/2014 9:48:36 AM
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North Olmsted Legislation
Legislation Number
3179
Legislation Date
12/6/1960
Year
1960
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CITY OF NQRTH 4LMSTIM <br />. <br />By ??• ? ? <br />ORDIN,ANCE N0. k-F_1? <br />ORDINANCE AUTHURIZTIPG T$E DFMTXIXT OF TRFASIIBY FUNDS AND <br />DECLARMG .Alq SMGEK(:Y. <br />W'EER W , the Director of Finaxice of the City of North Qlmsted has <br />16. reported to Coxmcil, the Mayor and the Solicitor that he has detexmined that <br />he will have oa hand certain fund.s not reqnired to be used in the operaticn <br />of said City pxiar to duae 1, 1961, and that ae ssid 1?irector of FizianQe, he <br />designates and i.ndieates that said sum of $ is dstermined as inactive <br />f'wads 3:rt?his possession and ths.t he, as eaid Dixegtor of Finance, seks suthority <br />to i.avest eaid inactive i'unds in the amawnt hereiaabove iridiaated in ahert-term <br />Trea,surg Aotes or short-tern U. S. Treasury Bills with the maximulm fleaibility <br />ir? seheduling of maturities for payment, <br />NOW, THERMRE, BE IT ORDAIN'.? by the Gcruncil of the City of North <br />Qlmated, 5tate of Ohio: <br />5ection 1s That tha Director of Firiiance of the City of North Olmsted <br />is hereby auth0rized to p?a.rchaae the ? of 9? c? ?? `? isi shvrt-te? U. S. <br />Treasuxy NoteB or shoxt-terffi U. S. Treasury Bille, whiah na has heretofore bsen <br />determined as inaative funds not required to be nsed by such mmieipal corporatiom <br />prior to June 1, 1961) and that said purehaee is authorized under and by virttte <br />of the pronis3.ans of 3ections 731 • 56, 731• 57 9 731.58 and 731 • 5g, izlclusive, of the <br />ftevised Code of the State of Ohio. <br />Secticui 2s That this ordinance is hereby deelared to be an emergenc.y <br />meaatzre ae€essary for the immediate preservatian of the public peace, health, <br />safety and general welfare of the City, and such emergency e?sts by vir?e of the <br />necessity a#' permittu?g earAi?ugs an the sum of $'73'Gy? , designe.ted by <br />the Direetor of Fi.nanae a,a avaa.lable funds not required to be used in the operatiom <br />of the City of North Olmsted prior to June 1t 1961, whieh investment and purchase <br />is for the best interests of the City asd protective of the general we].fare of the <br />City. <br />Section 3s Wherefore, th.i.s ordinance shs,l.l take i.mnetiiate effect from <br />and after its paesage, otherw3.ae, at the eaxliest period allowed by 1aw. <br />`--? o <br />Fassed: <br />A7'TT s <br />' T,ouise Ha13, Clerk of Ccuncil <br />:. <br />7Ae - <br />Paul J. areau, Mayor <br />;-a <br />Bruee MaeDonald, Presideat of Coancil <br /> <br />
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