(a) The Village Fiscal Officer is hereby authorized and directed to create and establish a restricted fund for unclaimed money known as the “Unclaimed Money Agency Fund.” The purpose of this Fund shall be receiving, accounting for, and disbursing unclaimed money.
(b) Unclaimed money includes without limitation checks issued by the Village that are not negotiated for a period of at least one hundred eighty (180) days after the issuance and money deposited with the Village in accordance with the ordinances or other requirements of the Village no longer subject to being used by the Village for the purpose for which it was deposited.
(c) All such unclaimed money not otherwise paid out shall be deposited in the Unclaimed Money Agency Fund where said money shall be retained until claimed by the lawful owner. If the money is not claimed by the lawful owner within a period of five (5) years from the date it is deposited in the Unclaimed Money Agency Fund, the money shall revert to the General Fund of the Village.
(d) The Village Fiscal Officer is further authorized and directed to make application to the Auditor of the State’s Office, Local Governmental Services Division, for the approval of the creation of the “Unclaimed Money Agency Fund,” pursuant to the provisions of Sections 5705.09 and/or 5705.12 of the Ohio Revised Code.
(Ord. 3140-13. Passed 11-6-13.)