Authorizing the temporary transfer of idle funds of the City of South Bend to other temporarily depleted funds

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RESOLUTION NO. 96 g- ?S" A RESOLUTION AUTHORIZING THE TEMPORARY TRANSFER OF IDLE FUNDS OF TIE CITY OF SOUTH BEND, INDIANA TO OTHER TEMPORARILY DEPLETED FUNDS OF THE CITY OF SOUTH BEND, INDIANA. WHEREAS, Chapter 71 of the Acts of 1961 of the General Assembly of the State of Indiana authorized the Common Council of the Civil City of South Bend, Indiana, by Resolution adopted by such Common Council, to ad- vance and transfer to a depleted fund from any other such fund, such amount and for such period of time as may be prescribed in the Resolution; NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, Indiana: SECTION I. That the City Controller of the City of South Bend, Indiana be, and her y is, authorized to transfer an aggregate amount not to exceed $4,500,000.00 from various to various other funds as it becomes necessary; this aggregate amount to be distributed so as not exceed at any one time the maximum amounts as set forth below. Any such transfers so made must be repaid by December 31, 1975: FROM: Maximum Cumulative Building and Sinking Fund .................... $ 2,000,000.00 Local Roads and Streets Fund ............................ 750,000.00 Federal Assistance Grant Fund ........................... 1,750,000.00 $ 4,500,000.00 TO: Maximum Corporation General Fund . ............................... 2,650,000.00 Park Maintenance Fund ..... ............................... 4009000.00 Police Pension Fund ...... ............................... 250,000.00 Fire Pension Fund ........ ............................... 250,000.00 Human Rights Commission Fund ............................ 25,000.00 General Sinking Bond Fund ............................... 450,000.00 Redevelopment Bond Fund .. ............................... 450,000.00 Hospital Fund ............ ............................... 15,000.00 Art Association Fund ..... ............................... 10,000.00 $ 4,500,000.00 All such transfers to be made from funds on hand or to be received during the Calendar Year 1975. SECTION II. Such transfer shall be made for a period not to extend beyond December 31, 1975, and such funds so transferred shall be returned and repaid to the original fund from which it was transferred. SECTION III. This Resolution shall be in full force and effect from and after its adoption by the Common Council, and its approval by the Mayor. PRESENTED NOT APPROVED / -/3 --2 ADOPTED I - / 3 -- 7 S" iJ Member the Common Council FILED IN CLERK'S OFFICE JAN 8 1975 Irene Gammon CITY CLERK, SOUTH BEND, IND.