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.J <br /> CITY OF SOUTH B E N D Reply To: <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 /> FROM: James V. Barcome <br /> DATED: January 8, 1974 <br /> SUBJECT: Resolution for investment of idle funds <br /> As we had stated last year in seeking a similar resolution, from time <br /> to time the City has available each year certain funds which are <br /> lying idle. This does not mean that the funds will not be spent or <br /> that there are no commitments against them. It is just that time <br /> schedules, especially in construction projects , sometimes allow us <br /> to invest these funds . <br /> Therefore, we are seeking Council authority to be given to the City <br /> Controller to make investments for the year 1974. The City Controller, <br /> of course, is required to make any such investments in compliance with <br /> the Depository Act and other State Statutes. <br /> We hope that this resolution with yo r satisfaction. <br /> J es V. arcome, Controller <br /> JVB:pbh <br />