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ORDINANCE NO. <br />AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY OF SOUTH FEND, <br />INDIANA; APPROPRIATING $125,000.00 FROM THE NONREVERTING LOSS <br />RECOVERY FUND ( #227) IN 2010 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 $4,881,962.00 in this fund due primarily to the settlement of <br />a MTBE contamination lawsuit and also has received interest earnings in the amount of <br />$23,274.12. A total of $429,636.68 has been spent from the fund to date resulting in a <br />current cash balance of $4,475,599.44. <br />The Department of Public Works has identified $25,000.00 in necessary expenditures for <br />miscellaneous brownfield rernediation issues at Fredrickson Park and potentially other <br />sites. These expenditures are eligible for appropriation in this fund. In addition, the <br />Department of Public Works wishes to provide funding for environmental consulting and <br />demolition of a building located on the site of the proposed new Igoe Center. The <br />purpose of this ordinance is to request a 2010 additional appropriation in the amount of <br />$125,000.00 from the Nonreverting Loss Recovery Fund ( #227). A total of $1.70,000.00 <br />has been previously appropriated in the 2010 capital budget in this fund for GAC filter <br />media replacement at Water Works, <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 sure of money is hereby appropriated in the fiscal year 2010 <br />and ordered set apart from and within the Nonreverting Loss Recovery Fund ( 44-227) for <br />expenditures as follows: <br />Type of x _3enditure Amount <br />Brownfield Remediation $25,000.00 <br />Consulting and Demolition 100,000.00 <br />TO'N'AL U2U00,44 <br />