2023-76 AN ORDINANCE AUTHORIZING THE FINANCE DIRECTOR TO ESTABLISH FUND 515 “OWDA WATER POLLUTION CONTROL DESIGN LOAN” AND DECLARING AN EMERGENCY.
NOW, THEREFORE BE IT ORDAINED by the Council of the City of Vermilion, Counties of Erie and Lorain, State of Ohio:
SECTION 1: That there is hereby established within the City of Vermilion Fund 515 “OWDA Water Pollution Control Design Loan” with budgeted revenue and expenditures of $4,500,000. The Finance Director is hereby authorized and directed to take all administrative actions necessary to establish this fund.
SECTION 2: This Council finds and determines that all formal actions of this Council concerning and relating to the passage of this Ordinance were taken in an open meeting of this Council and that all deliberations of this Council and of any committees that resulted in those formal actions were in meetings open to the public and in compliance with all legal requirements, including Section 121.22 of the Ohio Revised Code.
SECTION 3: That this Ordinance is hereby declared to be an emergency measure necessary for the preservation of the public peace, health, safety, and welfare of the citizens of the City of Vermilion, the immediate emergency being the necessity and desirability of establishing a provision for this fund to maintain an efficient City operation; therefore, this Ordinance shall be in full force and effect immediately upon its passage by this Council and approval by the Mayor.