(a) Pursuant to Article IV, § 6 of the City Charter, there is hereby adopted, as if fully set out herein, the provisions and procedures of Ohio R.C. 3929.86(C) and (D), relating to the payment by insurance companies to the City of a stated percentage of insurance proceeds resulting from certain fire losses and the disposition of such percentage of proceeds.
(b) Three copies of the statute mentioned in division (a) hereof shall be placed on permanent file in the office of the Clerk of the City Council for the use and examination of the public, as required by the City Charter.
(c) The Director of Finance is hereby designated as the officer to receive and disburse funds in accordance with the applicable procedures set forth in Ohio R.C. 3929.86.
(Ord. O81-18, passed 2-3-1981; Am. Ord. O2008-56, passed 7-15-2008)