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ORDINANCE NO. ~ ~~~(~~~~ <br />AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, <br />INDIANA, TRANSFERRING MONIES FROM THE RAINY DAY FUND NO. 102 TO <br />DEPLETED FUNDS WITHIN THE CITY OF SOUTH BEND <br />STATEMENT OF PURPOSE AND INTENT <br />Due to the delays in receipt of certain property tax revenue and State of Indiana <br />revenue, it has become necessary to temporarily transfer monies from various Funds <br />within the City to depleted Funds to meet current operational expenses. All Funds from <br />which temporary transfers are to be made have monies sufficient to accommodate these <br />temporary transfers. <br />NOW, THEREFORE, BE IT ORDAINED by the Common Council of the City of <br />South Bend, Indiana, as follows: <br />Section I. The aggregate sum of $1,850,000 shall be transferred from the <br />following Funds as follows: <br />A. $1,850,000 from Fund No.102 Rainy Day Fund <br />Section II. The monies totaling an aggregate sum of $1,850,000 transferred per <br />Section I from Fund No.102 shall be deposited and loaned temporarily to the following <br />Funds: <br />A. $650,000 to Fund 313 HaII of Fame Debt Service; and <br />B. $700,000 to Fund 701 Fire Pension fund; and <br />C. $500,000 to Fund 702 Police Pension Fund. <br />Section III. All monies transferred under Section I to the Funds designated in <br />Section II shall be paid back to the originating Fund no later t~i December 31, 2010. <br />Section IV. This ordinance shall be in~roe grid effect from and after its <br />passage by the Common Council and approy'al of <br />Atte <br />.. <br />ity Cl k <br />Council <br />