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CITY OF NORTH OLMSTED <br />ORDINANCE N0. 82- 32 <br />BY: RONALD WILAMOSKY <br />AN ORDINANCE ESTABLISHING A NEW FUND, ADDING TO THE <br />FINANCIAL STRUCTURE OF THE CITY OF NORTH OLMSTED, A <br />FUND KNOWN AS "CASUALTY LOSS FUND", AND DECLARING AN <br />EMERGENCY. <br />WHEREAS, in the past whenever the City incurred a loss and <br />was reimbursed by insurance proceeds, the funds received were put <br />back into the General Fund, thereby inflating the income picture <br />of the City, and <br />WHEREAS, the past procedure does not adequately reflect the <br />actual state of the facts, and <br />WHEREAS, it is the desire of this Council to establish a <br />separate fund to be known as the "Casualty Loss Fund". <br />NOW, THEREFORE BE IT ORDAINED BY THE COUNCIL OF THE CITY <br />OF NORTH OLMSTED, COUNTY OF CUYAHOGA AND STATE OF OHIO: <br />SECTION l: That there is hereby created a new fund within <br />the financial scheme of the City of North Olmsted, which new fund <br />shall be known as the "Casualty Loss Fund". <br />SECTION 2: That the proceeds from any and all casualty <br />losses s all e placed in said fund, and that the cost for repair <br />or replacement as a result of said casualty loss shall be drawn <br />from said fund under an appropriate line item, which from time to <br />time the Director of Finance shall establish. <br />SECTION 3: That this Ordinance is hereby declared to be <br />an emergency measure necessary for the immediate preservation of <br />the public health, safety and welfare and for the further reason <br />that it is immediately necessary to establish said fund to provide <br />for the payment of repair and replacement items with respect to <br />the fire at the Bus Garage, and further provided it receives the <br />affirmative vote of two-thirds of all the members elected to <br />Council, it shall take effect, and be in force immediately upon <br />its passage and approval by the Mayor. <br />PASSED:???? <br />ATTEST: <br />&tz <br />G ' <br />E D. BOEHMER, PRESIDENT OF <br />F ORENCE CA PBELL, LERK OF COUNCIL ?/COUNL <br />CIA. P R E• <br />tsaJl (?,L,?,., <br />R'OBERT W. SWIET NIOWS I, MAYOR <br />ls t reading : •3 02., <br />2nd reading: 34-1.t, <br />3rd reading: 3