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ORDINANCE NO. <br />AN ORDINANCE OF THE COMMON COUNCIL OF TPIE CITY OF SOUTH BEND, <br />INDIANA, TEMPORARILY TRANSFERRING MONIES FROM VARIOUS FUNDS <br />TO DEPLETED PROPERTY TAX FUNDS WITHIN THE CITY PENDING RECEIPT <br />OF PROPERTY TAX DISTRIBUTION <br />STATEMENT OF PURPOSE AND INTENT <br />The due date for current property tax payments (2008 pay 2009) is December 11, <br />2009. St. Joseph County is planning a distribution of property tax collections during <br />December 2009 to local units of government. The amount of tax collections to be <br />distributed to the City of South Bend during December is not known at this time. It may <br />become necessary to temporarily transfer monies from various funds within the City to <br />depleted property tax funds to meet current operational expenses. All funds from which <br />temporary transfers are to be made have monies sufficient to accommodate these <br />temporary transfers. The amount of transfers listed below are maximum amounts. The <br />actual amounts transferred may be less depending on the property tax distributions <br />received during December. <br />NOW, THEREFORE, BE IT ORDAINED by the Common Council of the City of <br />South bend, Indiana, as follows: <br />Section 1. The aggregate sum. of $ shall be transferred from the <br />following Funds as follows: <br />A. $ from Fund No. 711 Health Insurance Fund; and <br />B. $ from Fund No. 102 Rainy Day Fund; and <br />C. $ from Fund No. 227 Loss Recovery Fund <br />S ection 11. The monies totaling an aggregate sum of $ transferred per <br />Section .1 from Fund Numbers 711, 102, and 227 shall be deposited and loaned <br />temporarily to the following Funds: <br />A,, $ to Fund 101 General Fund; and <br />B, $ to 'Fund 201 Parks & Recreation Fund; and <br />C. $ to Fund 313 Hall of Fame Debt Service Fund <br />Section III All monies transferred under Section I to the Funds designated in <br />Section 11 shall be paid back to the originating Fund by June 30, 2010. <br />