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�J�1( <br />4 .f <br />oaf r <br />CITY OF SOUTH BEND <br />South Bend, Indiana 46601 <br />Jerry J. Miller <br />Mayor <br />James V. Barcome <br />Director, Administration and Finance <br />TO: Members of the Common Council <br />Reply To: <br />James V. Barcome <br />FROM: James V. Barcome, Director - Administration & Finance <br />DATED: January 8, 1975 <br />SUBJECT: Resolution allowing temporary transfers of funds <br />We are requesting the authority to make temporary transfers <br />of monies between various funds, so as to cover our normal <br />operating expenses in the year 1975. All of the funds are <br />tax - supported. <br />The alternative to making such temporary transfers would be <br />to negotiate bank loans at an interest rate of possibly <br />three per cent (30) or greater - - -to be repaid from our tax <br />revenues. <br />The temporary transfers between funds will involve no interest <br />charges and will be repaid from our normal tax revenues as <br />they are received. <br />We hope that this proposed resolution meets with the Council's <br />approval. <br />j mry si erely, <br />es V. Barcome <br />ntroller <br />Director - Administration & Finance <br />JVB:md <br />