BY:  Vice Mayor Herman   

ORDINANCE NO. 19-07

AN ORDINANCE DIRECTING THE PROCEEDS FROM THE SALE OF PUBLIC PROPERTY BY THE VILLAGE OF GRANVILLE TO BE USED ONLY FOR DEBT REDUCTION OR THE PURCHASE, IMPROVEMENT OR ACQUISITION OF A CAPITAL ASSET

WHEREAS, the Village of Granville hereby desires to establish a policy to require any and all proceeds from the sale of public property to be used only for debt reduction or the purchase, improvement or acquisition of a capital asset.
 
NOW, THEREFORE, be it ordained by the Council of the Village of Granville, Ohio, that:

Section I: The proceeds from the sale of public property by the Village of Granville shall be used only for debt reduction or the purchase, improvement or acquisition of a capital asset.

Section II: This Ordinance shall take effect upon the earliest date permitted by law.

Passed this 5th day of December, 2007.