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RESOLUTION NO. R-1314-141: A RESOLUTION OF THE COUNCIL OF THE CITY OF NORMAN, OKLAHOMA, ESTABLISHING REQUIREMENTS FOR RESERVE FUNDS.
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INFORMATION: Section 2-101(e) of Chapter 2 of the Norman Code of Ordinances states "The City Manager shall be required to place policy and budget items on the Agenda of the City Council Meetings when three (3) Councilmembers request it." This item has been submitted as a "Rule of Three" request by Councilmembers Castleberry, Kovach, and Williams.
The Ordinance was on for First Reading on June 10, 2014. The proposed Ordinance and companion Resolution were discussed in Finance Committee on June 18, 2014. The Ordinance was on for Second Reading on June 26, 2014 along with the companion Resolution. Both were postponed to a date certain for Council's meeting scheduled for August 26, 2014. Council reviewed both the Ordinance and companion Resolution at Council's Conference held on August 19, 2014.
Based on Council's feedback, Staff did no additional work on Ordinance O-1314-52. Council indicated they felt the Ordinance would not be necessary and would likely be postponed indefinitely. Based on Council's feedback, Staff redrafted Resolution R-1314-141 and that redraft is included in the packet of information. If the redraft of the Resolution is consistent with Council's direction, then a Motion to Substitute the redraft for the original Ordinance submitted for First and Second Reading would be in order. Staff will be ready at the meeting to include additional revision, if any, directed by a majority of Council.