2003-020 Ordinance - Laserfiche WebLink

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CITY OF NORTH OLMSTED ORDINANCE NO. 2003 - 20 BY: Mayor Musial AN ORDINANCE AUTHORIZING AND DIRECTING THE CREDITING OF ALL OF INSiIRANCE PROCEEDS REVENUES RECEIVED IN THE YEAR 2003, UP TO A MAXIM(IM AMOUNT OF FIFTY THOiISAND DOLLARS ($50, 000. 00), WHICH WQiILD OTHERWISE BE CREDITED TO THE "CASUALTY LOSS FUND, " TO THE GENERAL FUND, AND DECLARING AN EMERGENCY. N'HEREAS, this Council, pursuant to Ordinance No. 82-32, created the "Casualty ]Loss Fund," and directed that all insurance proceeds from casualty losses suffered by the City be credited to said special fund; and WHEREAS, this Council has determined that the current year estimated resowces 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 insurance proceeds received in the year 2003 from casualty losses suffered by the City, up to a maximum amount of fifty thousand dollars ($50,000.00), which would otherwise be credited to the "Casualty Loss Fund," to the General Fund; ? ?- ..,m.r.-?""#*#"", _ ,?-- .. ,