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TRANSFER OF FUNDS - Stormwater Revenue
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WHEREAS, bond proceeds are being used for the construction of Morrison Road, Improvement #769; and
WHEREAS, a storm water component is included in the project in the amount of $298,688; and
WHEREAS, we would like to free up the storm water money for use on the Claycraft Morrison drainage improvement; and
WHEREAS, legislation is needed to transfer funds so that the proceeds of the bond may be used;
NOW, THEREFORE. BE IT ORDAINED BY THE COUNCIL OF THE CITY OF GAHANNA, STATE OF OHIO:
Section 1. That funding in the amount of TWO HUNDRED NINETY EIGHT THOUSAND SIX HUNDRED EIGHTY EIGHT DOLLARS ($298,688) is hereby transferred from the Morrison Road Bond Proceeds to Account No. 631.000.4613, Stormwater Revenue.
Section 2. That ORD-0001-2006, passed January 2, 2006, is hereby amended to reflect this transfer of funds.
Section 3. That this ordinance shall be in full force and effect immediately after passage by this Council and on date of signature approval by the Mayor.