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9982-09 Appropriating $462,457 from the nonreverting loss recovery fund (#277) in 2009 for various expenditures
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9982-09 Appropriating $462,457 from the nonreverting loss recovery fund (#277) in 2009 for various expenditures
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Last modified
10/4/2010 3:38:08 PM
Creation date
12/9/2009 2:17:59 PM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
11/23/2009
Ord-Res Number
9982-09
Bill Number
88-09
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ORDINANCE NO. ~ ~ $ 2 ~ d 1 <br />AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, <br />INDIANA, APPROPRIATING $462,457.00 FROM THE NONREVERTING LOSS <br />RECOVERY FUND (#227) IN 2009 FOR VARIOUS EXPENDITURES <br />STATEMENT OF PURPOSE AND INTENT <br />On December 8, 2008, the City of South Bend Common Council passed Ordinance No. <br />9890-08 which established the Nonreverting Loss Recovery Fund (#227). The purpose <br />of the fund is to receive compensatory or exemplary damage payments from third parties <br />arising from loss or damage to City tangible or intangible property. The City has <br />received payments to date of $4,540,562.00 in this fund due primarily to the settlement of <br />a MTBE contamination lawsuit. <br />The Board of Public Works has identified $165,000.00 in necessary expenditures for <br />granulated activated carbon for Water Works and $40,000.00 for services related to <br />sampling, testing and a closure report for unknown UST that was found during the <br />demolition of the former Studebaker Museum. These expenditures are eligible for <br />appropriation in this fund. In addition, the Loss Recovery fund desires to reimburse <br />Water Works for $257,457.00 in expenditures related to the MTBE lawsuit incurred <br />during 2004 through 2007. The purpose of this ordinance is to establish the 2009 budget <br />for the Nonreverting Loss Recovery Fund (#227) in the amount of $462,457.00. <br />NOW, THEREFORE, BE IT ORDAINED by the Common Council of the City of South <br />Bend, Indiana, as follows: <br />SECTION I: The following sum of money is hereby appropriated in the fiscal year 2009 <br />and ordered set apart from and within the Nonreverting Loss Recovery Fund (#227) for <br />expenditures as follows: <br />2009 <br />Type of Expenditure Budget <br />Supplies $165,000.00 <br />Professional Services 40,000.00 <br />Reimbursements 257,457.00 <br />TOTAL 2009 BUDGET $462,457.00 <br />SECTION II. This ordinance shall be in full force and effect from and after its passage <br />by the Common Council and approval by the Mayor. <br />
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