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Nov
26
2022

Ordinance 2022-05

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— Public Notice —
ESTABLISHING A STREET CAPITAL IMPROVEMENT FUND

ORDINANCE 2022-05, VILLAGE OF YELLOW SPRINGS, OHIO

Interested persons will take note that the Village Council of Yellow Springs on Tuesday, Feb. 22, gave first reading to an ordinance, text to follow.

Council will give a second reading and passed into law during a public hearing on Monday, March 7.

WHEREAS, Council for the Village of Yellow Springs recognizes the need to fund capital expenditures for fixed assets and infrastructure for the Village streets;

WHEREAS, the Finance Director has determined that a separate fund is recommended by the Auditor of State to record and track the revenues and expenses used exclusively for street capital improvements;

NOW, THEREFORE, COUNCIL FOR THE VILLAGE OF YELLOW SPRINGS, OHIO HEREBY ORDAINS THAT:

Section 1. The Finance Director is authorized to establish a line item for the Street Capital Improvement Fund pursuant to all accounting and auditing principles.

Section 2. The Finance Director is authorized to receipt monies into the fund, to make appropriations as directed when such funds become available, and to make expenditures as permitted by law. The fund shall continue as long as necessary to meet the fixed asset and infrastructure needs within the Village Street Department.

Brian Housh, President of Council

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