Granville Community Calendar

Ordinance No. 33-2011

ORDINANCE NO. 33-2011 

AN ORDINANCE TO CREATE A CAPITAL PROJECT RESERVE FUND 

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

WHEREAS, the Village has received an inheritance tax settlement of $1,925,150.89; and 

WHEREAS, it is the desire of the Village Council to create a Capital Project Reserve Fund to account for this unexpected revenue and ensure the funds are used to address capital improvement needs of the Village. 

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

Section 1:    The Chart of Accounts for the Village of Granville shall be amended as follows to include a new Capital Project Reserve Fund to address capital needs of the Village: 

                                                     Fund                       Description

                                                      A8              Capital Project Reserve Fund 

Section 2:    This ordinance shall be effective from and after the earliest date allowed by law. 

Passed this 19th day of October, 2011.

 

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