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SUPPLEMENTAL APPROPRIATION - Tax Incentive Payments
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WHEREAS, when the 2012 Appropriations were developed, the method for estimating the appropriations required for Tax Incentive payments failed to include prior year payments for entities that may be eligible for payments from the prior year; and
WHEREAS, the estimate also did not include funds for JPMorgan Chase Bank as their incentive agreement had not been passed yet; and
WHEREAS, it is now necessary to make several tax incentive payments and a supplemental appropriation is needed;
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF GAHANNA, STATE OF OHIO:
Section 1. That funding in the amount of ONE HUNDRED SIX THOUSAND SEVEN HUNDRED TEN DOLLARS ($106,710) is hereby supplementally appropriated from the unencumbered, unappropriated balance of the General Fund to Account No. 101.352.5491, Tax Incentives Development Tax.
Section 2. That ORD-0001-2012, passed January 2, 2012, is hereby amended to reflect this supplemental appropriation.
Section 3. That this ordinance shall be in full force and effect after passage by this Council and on date of signature approval by the Mayor.