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I <br /> If <br /> CITY OF SOUTH BEND 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 South Bend Common Council <br /> FROM: James V. Barcome, City Controller <br /> DATED: January 8, 1974 <br /> SUBJECT: Resolution Allowing the Controller to Make Temporary <br /> Transfers of Funds <br /> This is a request for a resolution similar to those the Council <br /> passed in 1972 and 1973. We are requesting the authority to make <br /> temporary transfers of monies between the various funds listed in <br /> the resolution so as to cover our normal operating expenses. All <br /> of the funds are tax-supported; since property tax assessments will <br /> not be mailed until March, revenues from the tax levy will not be <br /> available until a much later date. <br /> In prior years it was a custom to borrow from local banks and pay <br /> interest on the loan to be repaid from tax revenues. <br /> The temporary transfers between funds will involve no interest <br /> charges and will be repaid from our normal tax revenues as they <br /> are received. <br /> We hope that this proposed resolution meets with the Council 's <br /> approval . Thank-you. <br /> Siv <br /> es V B rcome, Controller <br /> JVB:pbh <br />