Title
SUPPLEMENTAL APPROPRIATION - School District Compensation
Drafter
ils
Body
WHEREAS, due to a large claw-back collection, the Eastgate TIF exceeded planned revenue; and
WHEREAS, in order to reimburse the Gahanna Jefferson School District for their full share of the additional TIF revenue, a supplemental appropriation is needed; and
WHEREAS, this payment needs to be made in calendar year 2011 so a waiver of second reading is being requested;
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF HE CITY OF GAHANNA, STATE OF OHIO:
Section 1. That funding in the amount of ONE HUNDRED FIFTEEN THOUSAND FOUR HUNDRED TEN DOLLARS ($115,410) is hereby supplementally appropriated from the unencumbered, unappropriated balance of the Tax Increment Fund to Account No. 224.343.5831.2, School District Compensation.
Section 2. That ORD-0001-2011, passed January 3, 2011, 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.