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czTr oF xUaTs oIMmEn <br />onnQArtcE rro. <br />, <br />By <br />Arr oRnnINAxcb AUmgoRIzDG THS DTVEsTMOr aF TRLaatrxY ?NDB, <br />AI+TD DECLARING .AN kM&GENc;Y. <br />WMMMAS, it has been directed to the attention of Cc7un.cil, the Mayor <br />and the Law Directcr by the Auditor of the City of horth Olmsted that he has <br />determined that there wi11 be available funds not required to be used in the <br />operation of sai.d City prior to Uctiober 1, 1960, in the amotnt of One Hundred <br />9'wenty-Five Thausand Dollaxs ($1259000.00), and <br />WHI? YA, the Auditor has iadicated that said funds are to be designated <br />and declaxed by him as inaotive fiuids in hia possession and that he aska authority <br />to deposit said f'cuids in a savings aceount with The Naticma3 City Bank of Cleveland <br />at interest, <br />NOW, T'?M?RE, BE IT QRDAINEp by the Council of the City of North Olmsted, <br />State of Qhioa <br />Section 1s That theAuditor of the City of North Olmsted is hereby <br />authorized to deposit the sum of One Hundxed Twenty-Five Tb.ousand Doll.ars (ffi125,000.00) <br />in a savings acccyur?t at The Natioria7. City Eank of Cleveland at 3.nterest, whicsh <br />sum has heretofore been determi.n.ed as inactive funds not required to be used by <br />suah municipal corporation prior to October 1, 1960, an.d that said deposit is <br />hereby authorized under and by virtue of the provisions of Sections 731.56, 731.57, <br />731.58 and 731.59, i.nclusive, of the Revised Cade of the State of Ohio. <br />Section 21 That this ordinauce is hereby detexmined to be an emergency <br />measure necessary for the immediate preservation of the public peace, health, safety <br />and general welfare of the City, and such emergency exi.sts by virtue of the necessity <br />of obtaining av.thorization to make immediate deposit of sai.d sum of $125,000.00 <br />determined to be inaotive ftuzds and not required in the operation of said muniQipal <br />corporaticn prior to October 1, 1960, in order to secure the largest amount of <br />interest available when deposited in s savings account at interest. <br />Seetion 3s Wherefore, this ordinance shall take immediate eff'ect from <br />and after its passage, otherwise, at the earliest period allowed by law. <br />.....\ <br />Passed: <br />.- <br />. <br />'I,cnzise Hall, Clerk of Council <br />f'Bruce MacDonald, President af Council <br /> <br />Q,PPRQ??Da ?, , ' <br />au1 J . ' eau, Mayor <br />1 <br />,r <br />t.% <br />i , <br />? ,: ..