61-216 Ordinance - Laserfiche WebLink

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NORTH OLMSTED CHARTER 20 was incurred. The Council may by ordinance provide for additional regulations or controls with respect to the payment of claims. SEC. 5. CUSTODY AND DEPOSIT OF FUNDS. The Council shall by ordinance provide for the custody of all funds of the City and for the deposit of funds in a bank or banks. All funds received on behalf of the City by any officer, employee or agent thereof shall be promptly paid over to the Director of Finance and by him promptly placed in a depository bank, but the Council may authorize such sums as it deems proper to be kept in cash for the daily operation of any department or office . The Director of Finance, with the concurrence of a majority of the members of Council eligible to vote, shall invest monies of the City in bonds or notes of this City, or any other investment permitted by law, in such manner as is now or hereafter authorized by general law for such investment by cities. SEC. 6. PUBLIC BIDDING. The Council may authorize expenditures of the funds of the City in amounts exceeding one thousand dollars ($1, 000.00) without public biddings, for the acquisition of real estate, for the discharge of non-contractural claims against the City, for personal ser- vices, for the joint use of facilities or exercise of powers with other political subdivisions, or for the product or services of public utilities (including those municipally operated), but no other expenditures of more than one thousand dollars ($1, 000.00) shall be made except pursuant to contract made with the lowest and best bidder after public advertising and receipt of bids in the manner provided by ordinate. SEC. 7. PUBLIC IMPROVEMENTS. Public improvements of all kinds may be made by the appropriate department either by the direct employment of the necessary labor and purchase of supplies and materials, with a separate account as to each improvement so made, or by contract let as provided in the preceding section either for a closed price or upon a unit basis. SEC. 8. LIMITATION ON THE RATE OF TAXATION. The aggregate amount of taxes that may be levied by the Council, by atwo-thirds affirmative vote of the members eligible to vote, without a vote of the people, on any taxable property assessed and listed for taxation according to value, for all purposes of the municipality, shall not in any one year exceed eleven and one-tenth (11.1) mills for each dollar of assessed valuation. Of said total maximum levy, an amount shall annually be levied sufficient to pay the interest, sinking fund and retirement charges on all notes and bonds of the municipality heretofore or hereafter authorized to be issued without the authority of the electors, which levy shall be placed before and in preference to all other levies and for the full amount thereof. Of the remaining portion of said total maximum levy, an amount shall annually be levied sufficient to provide the amounts required by law for police pensions (.3) mills, and firemen's pensions (.3) mills; an amount shall annually be levied for the purpose of paying the expense of recreation and providing recreational facilities (.5) mills, and the balance thereof, may annually be levied for the purpose of paying the current operating expenses of the municipality.