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AN ORDINANCE AUTHORIZING THE ESTABLISHMENT OF THE GOLF COURSE RECOVERY FUND
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WHEREAS, the City desires to establish a Golf Course Recovery Fund under the provisions of Section 5705.09 of the Ohio Revised Code; and
WHEREAS, the City desires to account for all revenues and expenditures in the event of a natural disaster when the disaster is not covered by the City’s property or liability insurance; and
WHEREAS, revenues recorded within the Golf Course Recovery Fund shall consist of 3% of golf course revenue to be set aside annually to be used in the event of a natural disaster when the disaster is not covered by the City’s property or liability insurance, said Fund to be capped at $250,000.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF GROVEPORT, FRANKLIN COUNTY, OHIO, A MAJORITY OF ITS MEMBERS CONCURRING:
Section 1. That there is hereby established a new capital fund, the Golf Course Recovery Fund.
Section 2. That City Council hereby mandates and commits that all revenues recorded in this fund, other revenues and transfers from allowable funds (as considered necessary) shall be used specifically for restoration and/or rehabilitation of the Links at Groveport golf course.
Section 3. That upon passage, the Finance Director is hereby authorized and directed to establish such fund within the accounting system of the City, to include within such receipt and expenditure categories as may be needed from time to time, and to do all other things necessary to make such funds fully operational and appropriate to their purposes.
Section 4. That for the reasons stated in the preamble hereto which are made a part hereof, this Ordinance shall take effect and be in full force from and after the earliest period allowed by law.
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Lance Westcamp, Mayor
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Ruthanne Sargus Ross, Clerk of Council
Approved as to form:
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Kevin C. Shannon, Law Director