2003-021 Ordinance - Laserfiche WebLink

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CITY OF NORTH OLMSTED ORDINANCE NO. 2003 - 21 BY: Mayor Musial. AN ORDINANCE AUTHORIZING A1VD DIRECTING THE CREDITING OF ALL OF THE HOTEL/MOTEL TAX REVENUES RECEIVED IN THE YEAR 2003, UP TO A MAi'IMUM AMOUNT OF TWO HUNDRED SIXTY THOUSAND DOLLARS ($260, 000. DO), WHICH WOULD OTHERWISE BE CREDITED TO THE "HOTEl./MOTEL TAX FUND," TO THE GENERAL FUND, AND DECLARIIVG AN EMERGENCY, AS AMENDED. WHEREAS, this Council, pursuant to Ordinance No. 90-108, created the "HoteUMotel Tax Fund," and directed that a11 hoteUmotel tax revenues received by the City be credited to said special fund; and WHEREAS, this Council has determined that the cunent year estimated resources of the General Fund are less than proposed appropriations for the General Fund; and WHEREAS, this Council acknowledges that the local and state economy is stagnant; and WHEREAS, this Council believes that, absent taking the action contemplated by this legislation, the City would have to either obtain additional revenues by raising taxes or cut expenditures by laying-off additional City workers, which would likely impact on the level of services provided to the community; and WHEREAS, this Council is of firm belief that the City must be fiscally responsible during this stagnant economic time, and, at the same time, must balance cost effective government, the quality and quantity of City services, and the ability of residents and others employed in the community to bear any additional tax burden; and WHEREAS, it is accordingly the desire of this Council to authorize and direct the crediting of all of the hoteUmotel tax revenues received in the year 2003,up to a maximum amount of two hundred sixty thousa.nd dollars ($260,000.00), which would otherwise be credited to the "HoteUMotel Tax Fund," to the General Fund; NOW, ?'HEREFORE, BE Tl ORDAINED BY THE COUNCIL OF THE CITY OF NORTH OLMSTED, COUNTY OF CUYAHOGA AND STATE OF OHIO: