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TO ADOPT THE CITY OF GAHANNA EMERGENCY RESERVE POLICY.
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WHEREAS, the City wishes to have an intentional guide to structure the accumulation, distribution, use and replenishment of reserve funds; and
WHEREAS, after much work by the Director of Finance, City staff and Council members, a new Reserve Policy has been created and it is prudent that it be adopted by City Council;
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF GAHANNA, COUNTY OF FRANKLIN, STATE OF OHIO:
Section 1. That this Council hereby adopts the City of Gahanna Reserve Policy; attached as EXHIBIT A and made a part herein.
Section 2. That this legislation shall be in full force and effect after passage by this Council and 30 days after date of signature approval by the Mayor.