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(a) There is hereby created a fund to be known as the Capital Improvements Fund. All funds received from estate or inheritance taxes, proceeds from the sales of Village notes and bonds, and transfers from the General Fund of the Village and accepted by the Council for the purpose of planning and construction of capital improvements as hereinafter provided shall be paid into the Capital Improvements Fund. The Clerk-Treasurer shall make payments from such funds upon presentation of proper documentation for disbursement from such fund in accordance with law; such disbursements shall be made for the purposes as hereinafter provided.
(b) Disbursements from the Capital Improvements Fund shall be for the purposes of the acquisition or lease of real property, construction and re-construction of Village streets, including engineering and all proper expenses for such construction and re-construction, real property improvements, building construction, loan payments, purchase of capital equipment having an estimated life or period of usefulness of five (5) years or more, and including such other proper and lawful disbursements as Council may, in its discretion, determine.
(c) No contracts to be funded by, or equipment to be purchased with, disbursements from the Capital Improvements Fund shall be let or made without prior approval of Council and specific appropriation and encumbrance of funds in the Village treasury properly credited to the Capital Improvements Fund. (Ord. 2014-16. Passed 12-8-14.)
The Clerk-Treasurer is hereby authorized and directed to collect an interest charge of one percent (1%) per month (12% per annum) on any balances of unpaid accounts existing thirty days after date of original invoice of such accounts. The interest charged and collected pursuant to this section shall be paid into the General Fund.
(Ord. 1987-4. Passed 3-9-87.)
When a check is written to the Village of Waite Hill, as payee, and it is returned from the bank because of insufficient funds, closed account, or other similar reason, the direct cause thereof which is the fault of the signee of the check, there shall be a seven dollar ($7.00) charge to the signee of the check in addition to the liability of making the check good and any other penalties assessed by law. Funds collected pursuant to this section shall be deposited to the General Fund. (Ord. 1987-4. Passed 3-9-87.)
There is hereby created a fund to be known as the Police Department Petty Cash Fund in the amount of two hundred dollars ($200.00). The Chief of Police shall be responsible for, and will account to the Clerk-Treasurer for such fund.
(Ord. 1999-12. Passed 6-14-99.)
(a) There is hereby created a fund to be known as the Road Capital Fund. All funds received from transfers from the General Fund of the Village, sales of Village notes and bonds and designated and accepted by Council for the purpose of planning construction, reconstruction and maintenance of Village roads as hereinafter provided shall be paid into the Road Capital Fund. The Clerk-Treasurer shall make payments from such Fund upon presentation of proper documentation for disbursement from such Fund in accordance with law; such disbursement shall be made for the purposes hereinafter provided.
(b) Disbursements from the Road Capital Fund shall be for the purpose of acquisition of interests in real property, construction, reconstruction and maintenance of Village roads, including engineering and all reasonable and necessary expenses for such construction, reconstruction and maintenance, including, but not limited to, acquisition of machinery and/or equipment, real property improvements, financing and/or loan costs or payments and including such other and proper disbursements for road improvements and maintenance as Council, may in its discretion, determine.
(c) No contract to be funded by disbursements from the Road Capital Fund shall be let without prior approval of Council and specific appropriation and encumbrance of funds in the Village treasury properly credited to the Road Capital Fund.
(d) The Clerk-Treasurer is hereby authorized and directed to make application to the Bureau of Inspection of the State of Ohio for the approval of the creation of the Road Capital Fund, pursuant to the provisions of Ohio R.C. 5705.12.
(Ord. 1991-16. Passed 9-9-91.)
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