BY:  Councilmember O'Keefe

ORDINANCE NO. 01-08

AN ORDINANCE TO CREATE A PATHWAY RESERVE FUND AND TO AMEND ORDINANCE NO. 20-07 TO MAKE ADJUSTMENTS OF THE ANNUAL BUDGET FOR FISCAL YEAR 2008 AND TO REVISE SUMS FOR OPERATING EXPENSES

WHEREAS, Section 5705.13 of the Ohio Revised Code authorizes the Village to establish a capital projects fund for the purpose of accumulating resources for the acquisition, construction, or improvement of fixed assets of the Village; and

WHEREAS, it is the desire of the Village Council to create a capital project reserve fund for the future development or improvement of pedestrian pathways, bikeways, and sidewalks; and

WHEREAS, it is also the desire of the Village Council to amend the annual budget for fiscal year 2008 to include an appropriation for that pathway reserve fund.

NOW, THEREFORE, be it ordained by the Council of Granville, Ohio, that:

Section 1. The Chart of Accounts for the Village of Granville be amended as follows to include a new capital project reserve fund for the future development or improvement of pedestrian pathways, bikeways, and sidewalks:

Fund Description
A 7 Pathway Reserve Fund

Section 2. The annual budget of the Village of Granville, as established by Ordinance No. 20-07, is hereby amended to include the Pathway Reserve Fund and $120,000 shall be transferred from the General Fund into the Pathway Reserve Fund.  

Section 3. To provide for Operating Expenditures during the fiscal year ending December 31, 2008, the following additional appropriations are hereby made for the purpose of transferring $120,000 from the General Fund into the Pathway Reserve Fund:

Fund Account # Description Amount
General Fund A-1-6-G-270 Transfer $120,000

Section 4: This Ordinance shall take effect and be in full force immediately upon passage.

Passed this 6th day of February, 2008.