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SUPPLEMENTAL APPROPRIATION - TIZ REAL ESTATE ESCROW
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ils
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WHEREAS, as the properties within the Industrial Zone have been turned over to the leasees as the agreements have come due; and
WHEREAS, the City has had to refund to those companies the monies they have paid in advance for their real estate payments in lieu of taxes; and
WHEREAS, the Director of Finance has requested a supplemental appropriation to cover the amount needed;
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF GAHANNA, STATE OF OHIO:
Section 1. That THREE HUNDRED FIFTY THOUSAND EIGHT HUNDRED EIGHTY EIGHT DOLLARS ($350,888) is hereby appropriated from the unencumbered, unappropriated balance of the TIZ Real Estate Escrow Fund to Account No. 870.135.5299, Tax Payments.
Section 2. That ORD-0001-2010, passed January 2, 2010 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.