21-93 Ordinance
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RECORD OF ORDINANCES
Dayton Legal Blank Co. Form No. 30043
Ordinance No. 002.1-:9_3_ Passed_u_ .oonnoon_noon noonn19n
AN ORDINANCE TO AUTHORIZE THE DIRECTOR
OF FINANCE TO CREDIT THE GENERAL OBLIGATION BOND
~ RETIREMENT FUND INVESTMENT INCOME DERIVED
{ FROM INVESTING PROCEEDS FROM THE
\.... TULLER ROAD IMPROVEMENT NOTE ISSUE. AND
DECLARING AN EMERGENCY
WHEREAS. Substitute Senate Bill 359 amended Sections 133.02 and 5705.10 of the
Ohio Revised Code; and
WHEREAS. the amendments permit interest and other investment income derived from
investing bond and note proceeds to be credited to, and used for the purposes of. the
General Fund or any other fund or account as the taxing authority determines; and
WHEREAS. by crediting such investment income to the General Fund or other fund that
investment income is deemed to be "spent" on the date deposited to such fund or
account if that amount is reasonably expected to be spent within six months after it
is so deposited.
NOW. THEREFORE. BE IT ORDAINED by the Council of the City of Dublin, State of
Ohio 7 of the elected members concurring:
Section 1. That the investment income derived from investing the proceeds from the
Tuller Road Improvement note issue be credited to the General Obligation Retirement
r Fund.
\.... Section 2. That this ordinance be, and the same hereby is, declared to be an
emergency measure for the preservation of public peace, health or welfare of the
residents of this City, and therefore this ordinance shall take effect and be in force
immediately upon its passage.
Passed this JS~ day Of,~ 1993.
ATTEST:
~CL~
Clerk of Council
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