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There is hereby created a special fund to be known as the NOPEC Grant Fund. All grant funds received by NOPEC shall be deposited into this fund and expended for proper and authorized grant purposes. The Clerk-Treasurer is authorized and directed to make application to the Auditor of State for the approval of the creation of the NOPEC Grant Fund in accordance with Ohio R.C. 5705.12.
(Ord. 2010-10. Passed 9-13-10.)
There is hereby created a special fund to be known as the Police Department or Fire, EMS and Public Services Fund. All funds received by the Village pursuant to the levy authorized by the Waite Hill Village Charter for these purposes shall be deposited into this fund and expended solely for proper and authorized purposes. The Clerk-Treasurer is authorized and directed to make application to the Auditor of State for the approval of the creation of the Police Department and Fire, EMS and Public Services Levy Fund in accordance with Ohio R.C. 5705.12.
(Ord. 2013-19. Passed 12-9-13.)
There is hereby created a special fund to be known as the Planning and Zoning Deposit Fund. All funds received by the Village pursuant to Chapter 1305 of the Waite Hill Village Codified Ordinances shall be deposited into this fund and expended solely for the proper and authorized purposes identified in Chapter 1305. The Clerk-Treasurer is authorized and directed to make application to the Auditor of State for the approval of the creation of the Planning and Zoning Deposit Fund in accordance with Ohio R.C. 5705.12.
(Ord. 2016-7. Passed 8-8-16.)
(a) The Mayor and the Clerk-Treasurer are hereby authorized and directed to enter into depository agreements with such financial institutions as they deem reasonable and prudent.
(b) A copy of the agreement with each designated financial institution shall be kept on file in the Office of the Clerk-Treasurer.
(Ord. 2016-8. Passed 8-8-16.)
(a) Definitions. The following definitions apply to the terms used herein:
(1) “Authorized Officer” means the Mayor, the Clerk-Treasurer, or any person designated for the purpose by those officers.
(2) “Declaration of Official intent” means a declaration of intent, in the form and manner and time contemplated in the Reimbursement Regulations, that the advances for Original Expenditures referred to therein are reasonably expected to be reimbursed from the proceeds of Bonds to be issued after those Original Expenditures are paid.
(3) “Reimbursement” or “reimburse” means the restoration to the Village of money temporarily advanced from its other funds and spent for Original Expenditures before the issuance of the Bonds, evidenced in writing by an allocation on the books and records of the Village that shows the use of the proceeds of the Bonds to restore the money advanced for the Original Expenditures. “Reimbursement” or “reimburse” generally does not include the refunding of retiring of bonds previously issued and sold to, or borrowings from, unrelated entitles.
(b) Authorization and Requirement of Declarations of Official Intent. Each Authorized Officer is authorized to prepare and sign Declarations of Official Intent in substantially the form attached with respect to Original Expenditures to which the Reimbursement Regulations apply to be made from money temporarily advanced and that is reasonably expected to be reimbursed (in accordance with applicable authorizations, policies and practices) from the proceeds of Bonds, to make appropriate reimbursement and timely allocations from the proceeds of the Bonds to reimburse such Original Expenditures, and to take any other actions as may be appropriate, all at the times and in the manner required under the Reimbursement Regulations in order for the reimbursement to be treated as an expenditure of such proceeds for purposes of Sections 103 and 141 to 150 of the Code. No advance from any fund or account or order for payment may be made for Original Expenditures (other than expenditures excepted from such requirement under the Regulations) that are to be reimbursed subsequently from proceeds of Bonds unless a Declaration of Official Intent with respect thereto is made within the time required by the Reimbursement Regulations. (Ord. 2017-11. Passed 8-14-17.)