An Ordinance Authorizing a Transfer of Funds and Declaring an Emergency
- Published: July 21, 2011
Interested persons will take note that the Village Council of Yellow Springs on Monday, July 18, 2011, gave an emergency reading to and passed ordinance, text to follow.
WHEREAS, Ordinance 2011-01 and 2011-19 were adopted to make appropriations for expenses of the Village of Yellow Springs, State of Ohio, during the fiscal year ending December 31, 2011; and
WHEREAS, the Village of Yellow Springs Charter, Section 41, requires the transfer of funds be approved
through an ordinance established by Council; and
WHEREAS, this ordinance is hereby declared to be an emergency measure necessary to transfer additional funds from the Electric Fund to the Bond Retirement Fund to correct the calculation of interest payable on the Municipal Building Bond,
NOW, THEREFORE, THE COUNCIL OF THE VILLAGE OF YELLOW SPRINGS, OHIO HEREBY ORDAINS THAT:
Section 1. In accordance with Ordinance 2011-01, Charter Section 41, and Supplemental Appropriation Ordinance 2011-19, the following transfer of funds from the General Fund to the Bond Retirement Fund is authorized:
Bond Retirement Fund $215.01
Section 2. The Finance Director is hereby authorized to make the necessary transfer, approved by an ordinance of Council.
Section 3. This ordinance is hereby declared to be an emergency measure necessary to pay the Electric Fund’s share of interest on the Municipal Building Bond and shall take effect at the earliest date permitted by law.
President of Council