38-84 Ordinance
. 157
, RECORD OF ORDINANCES
National Graphics Corp., COls., O. ~ Form No. 2806-A
Ordinance No._____38_--::.8A_____ P assed______.__ ___________. ______. .. ___ ____19_ 'H'_
AN ORDINANCE TO AMEND ORDINANCE NO. 53-83,
THE 1984 ANNUAL APPROPRIATION ORDINANCE,
AND DECLARING AN EMERGENCY.
WHEREAS, the Ohio Revised Code requires amendments to the Annual
Appropriations, when necessary, and
WHEREAS, amendments to Ordinance No. 53-83 are required in order
to appropriate funds for debt retirement and to establish a new
fund for construction of Avery Road Waterline,
NOW THEREFORE, BE IT ORDAINED by the Council of the Village of
Dublin, State of Ohio, 1 of the elected members concurring:
SECTION 1. That Ordinance No. 53-83 be and it hereby is, amended
to read as follows:
That there be appropriated from the unappropriated balance of the
GENERAL FUND the sum of $106,658.00 to the account of Al-7-T-271
for transfer to the GENERAL OBLIGATION DEBT RETIREMENT FUND for
the purpose of retiring principal and interest on notes for
Frantz Road Boulevarding, thereby increasing said appropriation
from $442,500.00 to $549,158.00, and
SECTION 2. That there be appropriated from the unappropriated
balance of the GENERAL OBLIGATION DEBT RETIREMENT FUND to the
account Cl-6-A-261 the sum of $655,000.00 in order to retire
outstanding notes for Frantz Road Boulevarding, thereby
increasing said appropriation from $65,000.00 to $720,000.00; and
to the account Cl-6-A-262 the sum of $41,658.00 for the payment
of interest due on the same notes, thereby increasing said
appropriation from $64,898.25 to $106,556.25, said increases to
be supported by a transfer from the General Fund and the sale of
notes in the amount of $590,000.00, and
SECTION 3. That there be established an appropriation for the
AVERY ROAD WATERLINE CONSTRUCTION FUND in the amount of
$383,000.00 to the account of D5-5-W-250 for Capital
Improvements, said appropriation to be supported by the sale of
notes in the amount of $383,000.00
SECTION 4. That this Ordinance be, and hereby is, declared to be
an emergency measure necessary for the preservation of the public
peace, health and safety, and therefore this Ordinance shall take
effect and be in force immediately upon its passage.
J t> .-0 day of ~7 , 1984.
Mayor -
ATTEST: I hereby certify that copies of this Ordinance/Resolution
were posted in the Village of Dublin in accordance with
/? Section 731.25 of the Ohio Revised Code.
JAt1~o YJJ. t.:L~~ -~<to0'~
CYerk of Counc~l
C erk of Council
Sponsor: Finance Director
MEMORANDUM
TO: All Councilmembers
FROM: Nan Prushing, Finance Director
SUBJECT: Ordinance No. 38-84 - Amendments to Appropriations
DATE: July 12, 1984
The first two sections of the Ordinance deal with retiring notes for Frantz
Road Boulevarding which are due August 1 , 1984. Originally, we anticipated
converting these notes to bonds at this time; however, a change in State Law
now requires all bonds to be registered. The cost to do this is not readily
justified on issues under $1,000,000. Also, we are still awaiting the
$175,000.00 due from the County for that portion of the improvement constructed
in Franklin County. Therefore, it was decided that one-tenth of the out-
standing issue would be retired at this time, which is our normal procedure
with notes. The payment of principal and interest is from income taxes through
a transfer from the General Fund.
The third section of this Ordinance establishes a separate Construction Fund
for the Avery Road Waterline. Such a procedure is required by State. law.
Sincerely,
"
'---+\O~.r'JJjJ-._ c \r~/~.u_-d'~)V"I(,
Nanette J. Pru\hing ~
Finance Director
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