Explanation
BACKGROUND: Ordinance 1203-2008, passed July 14, 2008, authorized the payment to various school districts for income tax revenue sharing. The amount authorized for the Columbus City School District did not include the $15,210.79 revenue share amount for 274 First AGA, Inc. This legislation will amend Ordinance 1203-2008 to include this amount.
Emergency action is requested in order to expedite payment to the Columbus City School District.
FISCAL IMPACT: The 2008 General Fund budget includes the $15,210.79 payment reflected in this amendment.
Title
To amend Ordinance 1203-2008, passed July 14, 2008, to increase the payment to the Columbus City School District by $15,210.79; and to declare an emergency. ($15,210.79)
Body
WHEREAS, on July 14, 2008, Columbus City Council passed Ordinance 1203-2008, authorizing the payment to various school districts for income tax revenue sharing; and
WHEREAS, it has been determined that the payment to the Columbus City School District did not include the revenue share amount for 274 First AGA, Inc.; and
WHEREAS, an emergency exists in the usual daily operation of the Department of Development in that it is immediately necessary to authorize the amendment to Ordinance 1203-2008 to correct an error and expedite payment to the Columbus City School District, all for the immediate preservation of the public health, peace, property, safety and welfare; now, therefore,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
Section 1. That the Title and Sections 3 and 4 of Ordinance 1203-2008, passed July 14, 2008, be and are hereby amended to read as follows:
Title: To authorize and direct the City Auditor to transfer $526,781.67 from the Special Income Tax Fund to the General Fund; to appropriate said funds to the Economic Development Division; to authorize and direct the payment of $1,573,768.90 to the Columbus City School District, $92,018.50 to the Hilliard City School District, $341,801.51 to the Olentangy Local School District, and $114,748.59 to the South-Western City School District for income tax revenue sharing totaling $2,122,337.50; to authorize the expenditure of $2,122,337.50 from the General Fund; and to declare an emergency. ($2,122,337.50)
Section 3. That the City Auditor, for the purposes of income tax revenue sharing, is hereby authorized to make payment to the Columbus City School District in the amount of $1,573,768.90, to the Hilliard City School District in the amount of $92,018.50, to the Olentangy Local School District in the amount of $341,801.51, and to the South-Western City School District in the amount of $114,748.59.
Section 4. That the payment totaling $2,122,337.50 is hereby authorized from the General Fund, Fund 010, Department of Development, Economic Development Division No. 44-02, Object Level One 05, Object Level Three 5513, OCA Code 440314.
Section 2. That for the reasons stated in the preamble hereto, which is hereby made a part hereof, this ordinance is hereby declared to be an emergency measure and shall take effect and be in force from and after its passage and approval by the Mayor, or ten days after passage if the Mayor neither approves nor vetoes the same.