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ORDINANCE NO. ~ ~QO ~ ~~ <br />AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, <br />INDLANA, 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 />miscellAineous brownfield remediation issues at Fredrickson Park and potentially other <br />sites. Tizese 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 Kroc 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 $170,000.00 <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 sum of money is hereby appropriated in the fiscal year 2010 <br />and orCzred set apart from and within the Nonreverting Loss Recovery Fund (#227) for <br />expendtures as follows: <br />T~-pe of Expenditure Amount <br />Brownfield Remediation $25,000.00 <br />Consulting and Demolition 100,000.00 <br />'TOTAL $125,000.00 <br />