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10580-18 Amending Chapter 2, Article 14 of the South Bend Municipal Code
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10580-18 Amending Chapter 2, Article 14 of the South Bend Municipal Code
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2/16/2018 8:13:19 AM
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2/16/2018 8:13:18 AM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
2/12/2018
Ord-Res Number
10580-18
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BILL NO. 12-18 <br /> ORDINANCE NO. <br /> AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, <br /> INDIANA,AMENDING CHAPTER 2,ARTICLE 14 OF THE SOUTH BEND <br /> MUNICIPAL CODE TO ESTABLISH A NEW FUND: PARK BOND DEBT SERVICE <br /> FUND (312). <br /> STATEMENT OF PURPOSE AND INTENT <br /> During the preparation and adoption of the 2018 City Budget, the need has arisen to add <br /> one (1) Fund to properly account for revenue and expenditures of the City of South Bend. The <br /> Parks Bond Debt Service Fund will be used to collect the property tax levy to fund the debt service <br /> payments. This Fund Number will be 312, and will be effective January 1, 2018. <br /> NOW,THEREFORE,BE IT ORDAINED BY THE COMMON COUNCIL OF THE <br /> CITY OF SOUTH BEND,INDIANA as follows: <br /> SECTION I. Effective January 1, 2018,the following funds are established, and Chapter <br /> 2, Article 14, of the South Bend Municipal Code is hereby amended to add new sections which <br /> shall read in their entirety as follows: <br /> Section 2-170.30. Parks Bond Debt Service Fund <br /> The Parks Bond Debt Service Fund(No. 312)is established to account for the property <br /> levy to fund debt service payments related to the Parks Bond. <br /> SECTION IV. 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 /> Tim Scott, Council President <br /> South Bend Common Council <br /> Att est: <br /> Kare mah N. 'Fowle4 Citj Clerk <br /> Offi e of the City Clerk <br />
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