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RESOLUTION NO. 7(o /
<br />A RESOLUTION AUTHORIZING THE TEMPORARY TRANSFER OF
<br />IDLE FUNDS OF THE CITY OF SOUTH BEND, INDIANA, FROM
<br />THE CUMULATIVE SEWER BUILDING AND SINKING FUND,
<br />FEDERAL ASSISTANCE GRANT FUND, WASTEWATER DEPRECIATION
<br />FUND, WATER WORKS DEPRECIATION FUND AND WASTEWATER
<br />GENERAL FUND, AND WASTEWATER CONSTRUCTION FUND, TO
<br />THE CORPORATION GENERAL, PARK MAINTENANCE, POLICE
<br />PENSION, FIRE PENSION AND HUMAN RELATIONS AND FAIR
<br />EMPLOYMENT PRACTICES COMMISSION FUNDS AND CENTURY
<br />CENTER OPERATIONS FUND, ALL FUNDS BEING WITHIN THE
<br />CIVIL CITY OF SOUTH BEND, INDIANA.
<br />WHEREAS, a necessity exists to provide funds for the Corporation
<br />General, Park Maintenance, Police Pension, Firemen Pension, Human Relations
<br />and Fair Employment Practices Commission and Century Center Operations Fund
<br />prior to the receipts of taxes in the year 1980 in order to meet the current
<br />operating expenses of the City, provided for in the budget and appropriation
<br />adopted for the year 1980 which expenses must be met prior to the receipts
<br />of taxes and other revenues in the year 1980 and
<br />WHEREAS, there are monies on deposit to the credit of various funds
<br />of the City, to wit: Cumulative Sewer Building and Sinking, and Federal
<br />Assistance Grant, Wastewater General, Wastewater Depreciation, Water Works
<br />Depreciation Funds and Wastewater Construction Fund which can be temporarily
<br />advanced or transferred to the various funds already mentioned, and
<br />WHEREAS, Indiana Code 19- 11 -2 -1 and 19- 11 -2 -2 authorize the Common
<br />Council of the Civil City of South Bend, by Resolution adopted by such
<br />Council, to advance and transfer to a depleted fund from any other such
<br />fund, such amount and for such period of time as may be prescribed in the
<br />Resolution,
<br />NOW, THEREFORE, BE IT ORDAINED BY THE COMMON COUNCIL OF THE CITY
<br />OF SOUTH BEND, INDIANA:
<br />SECTION I. That the City Controller of the City of South Bend is
<br />authorized to transfer an aggregate amount not to exceed $4,650,000.00 to
<br />various funds from various other funds as listed below. The aggregate
<br />amount of $4,650,000.00 to be distributed so as not to exceed at any one
<br />time the maximum amounts as set forth below. Any such transfers made must
<br />be repaid by December 31, 1980.
<br />FROM: MAXIMUM
<br />TO: MAXIMUM
<br />Cumulative
<br />Sewer
<br />Corporate General
<br />$3,680,000.00
<br />Building &
<br />Sinking Fund
<br />$1,000,000.00
<br />Park Maintenance
<br />500,000.00
<br />Federal Assistance
<br />Grant
<br />750,000.00
<br />Police Pension Fund
<br />200,000.00
<br />Fund
<br />Firemen Pension Fund
<br />200,000.00
<br />Wastewater
<br />General Fund
<br />500,000.00
<br />Human Relations & Fair
<br />Practices Comm. Fund
<br />20,000.00
<br />Wastewater
<br />Depreciation
<br />Fund
<br />750,000.00
<br />Wastewater
<br />Construction
<br />Century Center Operations
<br />50,000.00
<br />Fund
<br />950,000.00
<br />Fund
<br />Water Works
<br />Depreciation
<br />Fund
<br />700,000.00
<br />$4,650.000.00
<br />$4,650,000.00
<br />
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