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<br />t,°'°. <br />CITY OF NORTH OIMSTID <br />ORDINANC',E N0. 90-27 <br />BY: 1Zonald Tallon <br />? <br />%.r° <br />AN ORDINANCE TO ESTABLISH WITHIN TfE CAPITAL <br />INPRUVIIMEIT FU1VD GROLTP A"IARAIN ROAD WATER <br />MAIN RII,INING FUND" OF THE CITY OF NORTH <br />OIMSTED FpR TfE PROCEIDS OF ISSLTE II MUNIES <br />AND RELATID EXPENDI'IURES, AND DEQ,ARING AN <br />IIMERGENCY. <br />WHEREAS, the City of North O]msted has been approved for <br />Issue II funding to reline the Lorain Road water line; and <br />WfEREAS, the Auditor of the State of Ohio has determined that <br />Issue II funds must be accounted for through the use of a seperate Fund: <br />NOW, THEREFnRE, BE IT ORDAINID BY TfE CITY OF NORTH OIMTED, <br />CJOtIN'1'Y OF C[nAHOGA, ANp STATE OF OHIO: <br />SECTION 1: That there is hereby created a Lorain Road Water <br />Main Relining Fund within the Capital Improvement Fand group to account <br />for the revenues and expenditures related to the Issue II funding of <br />the Lorain Road Water Main Relining project. <br />SFX.TION 2: That the Director of Finance be and he is hereby <br />directed to establish a Lorain Road Water Ma.in Relining F.ind and to <br />record receipts and expenditures consistent with this ordinance. <br />SECTION 3: That the Clerk of Council shall i.ninediately <br />fonvard an attested copy of this ordinance to the Auditor of C.iyahoga <br />County and the Auditor of the State of Ohio. <br />SECTION 4: That this ordinance is hereby declared to be an <br />esnergency measure imnediately necessary for the preservation of the <br />public health, safety and welfare, and further provided it receives the - <br />affirntiative vote of twrrthirds of all members of Council it shall take <br />effect and be in force imnediately upon its passage and approval by the <br />Mayor.