135.02 ASSISTANT DIRECTOR.

   The position of Assistant Director of Finance of the City is hereby created in the Department of Finance.

   The Mayor shall appoint such individual, who shall perform such duties in the Department of Finance as are designated by the Director of Finance, and shall be responsible to and report directly to the Director.  In the absence or unavailability of the Finance Director, the Assistant Finance Director shall have the same authority and responsibility as the Finance Director and shall act under the direction and control of the Finance Director and the Mayor.

(Ord.  1999-29.  Passed 2-1-99.)

135.03 TAX AUDITOR

   The position of Tax Auditor is hereby established to provide for the audit, investigation, enforcement and collection of all taxes due the City, including Municipal income tax, admissions tax, inheritance tax and real property tax. The Tax Auditor shall be an employee of the Finance Department and shall work for not less than twenty-two hours per week.

   In the event that no Tax Auditor is appointed as an employee of the Finance Department, the City Auditor shall fulfill the duties of the Tax Auditor as part of the City Auditor’s position.

(Ord.  1999-29.  Passed 2-1-99.)

135.04 INVESTMENT OF SURPLUS FUNDS.

   Whenever there are moneys in the City Treasury which will not be required to be used for a period of six months or more, such moneys may, in lieu of being deposited in a bank, be invested in accordance with Ohio R.C. 731.56 to 731.59.  Investments so purchased shall be sold in accordance with Ohio R.C. 731.57.

(Ord. 1988-126. Passed 9-2-88.)

135.05 REIMBURSEMENT OF CAPITAL EXPENDITURES FROM REIMBURSEMENT BONDS; DECLARATIONS OF OFFICIAL INTENT REQUIRED.

   (a)    Definitions.  As used in this section:

      (1)    "Authorized officer" means the Finance Director or any person designated for the purpose by the Mayor.

      (2)    "Bonds" means and includes bonds, notes, certificates and other obligations included in the meaning of the term "bonds" as defined in Section 150 of the Internal Revenue Code of 1986, as amended.

      (3)    "Declaration of official intent" means a declaration of intent, in the manner contemplated in the Reimbursement Regulations, as defined in this subsection, that expenditures are reasonably expected to be reimbursed from the proceeds of reimbursement bonds to be issued after the expenditure is paid.

      (4)    "Issuer" means the City of Beachwood, Ohio.

      (5)    "Public record" is as defined in Ohio R.C. 149.43.

      (6)    "Reimbursement" or "reimburse" means the restoration to the issuer or conduit borrower of money temporarily advanced from its other funds and spent for capital expenditures (including any issuance costs) before the issuance of the reimbursement bonds. The term "reimbursement" or "reimburse" does not include the refunding or retiring of bonds previously issued and sold to, or borrowings from, unrelated entities (i.e. entities not in the same "controlled group," within the meaning of the Reimbursement Regulations).

      (7)    "Reimbursement bonds" means any issue of bonds, all or part of the proceeds of which are to be used for reimbursement of capital expenditures paid before the issuance of such bonds

      (8)    "Reimbursement Regulations" means Treasury Regulations Section 1.103-18, and any amendments thereto or superseding regulations, whether in proposed, temporary or final form, as at the time applicable, prescribing conditions under which the proceeds of reimbursement bonds, when allocated or applied to a reimbursement, will be treated as "spent" for all or any purposes of Sections 103 and 141 to 150 of the Internal Revenue Code.

   (b)    Authority of Authorized Officer; Declarations.  Each authorized officer is authorized to prepare, sign and include in the public records, declarations of official intent with respect to capital expenditures (including any costs of issuance of reimbursement bonds) to be made from money temporarily available and which are reasonably expected to be reimbursed (in accordance with applicable authorizations, policies and practices) from the proceeds of reimbursement bonds; to make appropriate reimbursement and timely allocations from proceeds of reimbursement bonds to reimburse such prior capital expenditures; and to take any other actions as may be appropriate, all at the times and in the manner required under the Reimbursement Regulations, to satisfy the requirements for proceeds used for reimbursement to be treated as "spent" for purposes of Sections 103 and 141 to 150 of the Internal Revenue Code of 1986, as amended. No advance from any fund, account or order for payment may be made for expenditures that are to be reimbursed subsequently from proceeds of reimbursement bonds unless a declaration of official intent with respect thereto is first made. All declarations of official intent heretofore made on behalf of the issuer are hereby ratified and adopted.

   (c)    Public Inspection of Declarations.  Each declaration of official intent shall be treated as a public record and made available for reasonable public inspection not later than thirty days after the date of the declaration of official intent, and the same shall be available for reasonable public inspection continuously during normal business hours on every business day, up to and including the date of issuance of the reimbursement bonds.

   (d)    Declarations bv Conduit Borrowers; Public Inspections. With regard to reimbursement bonds, the proceeds of which are to be loaned or otherwise made available to a borrower for his or her purposes (conduit borrower), any declaration of official intent by the conduit borrower with respect to reimbursement of capital expenditures may be filed, at the option of the conduit borrower, with the public records for inspection by the general public as provided in subsection (c) hereof.

(Ord. 1992-40. Passed 3-16-92.)

135.06 DISBURSEMENTS; REPORT TO COUNCIL.

   (a)   The Mayor and Director of Finance are hereby authorized and directed to draw warrants against the City’s appropriations upon presentation of proper certificates and vouchers therefor.  In this regard the Mayor and Finance Director shall be responsible for ascertaining that all disbursements are consistent with and do not exceed those included or implied in the budget and/or appropriation ordinances, and/or in the City’s general salary ordinance, and/or in ordinances specifically approving payment with regard to specific contracts entered into by the City.

   (b)   The Mayor and Finance Director shall provide Council with a detailed itemization of all disbursements on a regular basis, in a format to be approved by the Finance Committee of Council.

   (c)   Unless otherwise specifically required by Council, it shall not be necessary for Council to specifically approve lists of bills or salaries for payment on a monthly basis.

(Ord.  1999-29.  Passed 2-1-99.)

135.07 OFFICE OF ECONOMIC DEVELOPMENT. (REPEALED)

   (EDITOR’S NOTE:  Former Section 135.07 was repealed by Ordinance 2020-139, passed November 2, 2020.)