(a) There is hereby created a fund to be known as the Charter Tax Levy Fund. This Fund shall be used to account for the receipt and disbursement of funds received as a consequence of the levy of the temporary tax for permanent improvements imposed pursuant to the authority of Section 3 of Article VIII of the Orange Village Charter. The provisions of said Charter section are incorporated by reference into this subsection as if fully rewritten herein. All receipts and disbursements from the Charter Tax Levy Fund shall be in accordance with the requirements and authorizations of Section 3 of Article VIII of the Orange Village Charter.
(b) The Treasurer is hereby authorized and directed to make application to the Bureau of Inspection of the State of Ohio for approval of the creation of the Charter Tax Levy Fund pursuant to the provisions of Ohio R.C. 5705.12.
(Ord. 1996-44. Passed 11-13-96.)