(a) There is hereby established a special fund to be known as the Library Fund under the provisions of Ohio R.C. 5705.12.
(b) Monies deposited into the Library Fund shall be used by the Village as directed by Council, from time to time, to pay for any costs associated therewith for the construction of a Library and any other costs related to the library deemed appropriate.
(c) The Village Clerk shall deposit in the Fund all donations received by the Village to be used on the Library Project. Additionally, the Clerk may deposit in the fund sufficient sums, as directed by Council, to pay for the Library Project.
(d) Interest earned by this Fund shall be credited to the Fund.
(e) The Village Clerk is hereby authorized and directed to send a certified copy of this section to the Local Government Services of the State of Ohio to receive approval to create a separate, segregated fund on the books of the Village pursuant to the provisions of Ohio R.C. 5705.12.
(Ord. 2003-29. Passed 8-12-03.)