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<br />CITY OF NORTH OLMSTED <br />ORDINANCE N0. 93-24 <br />By: Mayor Boyle <br />AN ORDINANCE TO ESTABLISH WITHIN THE SPECIAL <br />REVENUE FUND GROUP AN "ECONOMIC DEVELOPMENT <br />FUND" OF THE CITY OF NORTH OLMSTED, AND <br />DECLARING AN EMERGENCY. <br />WHEREAS, the City of North Olmsted wishes to establish <br />a fund for the purpose of providing funds for schooling, <br />promoting and publicizing commercial and residential <br />economic development and re-development. <br />NOW, THEREFORE, BE IT ORDAINED BY THE CITY OF NORTH <br />OLMSTED, COUNTY OF CUYAHOGA, AND STATE OF OHIO: <br />SECTION 1: That there is hereby created an Economic <br />Development Fund within the Special Revenue Fund group for <br />the purpose of providing funds for schooling, promoting and <br />publicizing commercial and residential economic development <br />and re-development. <br />SECTION 2: That the Director of Finance be and he is <br />hereby directed to establish an Economic Development Fund <br />and to record receipts and expenditures consistent with this <br />ordinance. <br />SECTION 3: That the Clerk of Council shall immediately <br />forward an attested copy of this Ordinance to the Auditor of <br />Cuyahoga County and the Auditor of the State of Ohio. <br />SECTION 4: That this ordinance is hereby declared to <br />be an emergency measure immediately necessary for the <br />preservation of the public health, safety and welfare, and <br />further provided it receives the affirmative vote of two- <br />thirds of all members of Council it shall take effect and be <br />in force immediately upon its passage and approval by the <br />Mayor.