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CITY OF SOUTH BEND STEPHEN J. LLIECKE, MAYOR <br />DEPARTMENT OF ADMINISTRATION AND FINANCE <br />GREGG D. ZIENTARA <br />WNTROiTFR <br />June 8, 2010 <br />Derek Dieter, President <br />South Bend Common Council <br />County-City Building <br />227 W. Jefferson Blvd., 4`I' Floor <br />South Bend, IN 46601-1830 <br />Re: Ordinance Borrowing Funds From Rainy Day Fund (#102) <br />Dear President Dieter: <br />Due to delays in receipt of certain property tax revenue and State of Indiana revenue, it is <br />necessary to transfer monies by June 30, 2010 from the Rainy Day Fund to three depleted <br />funds in order to meet operational expenses. All funds will be paid back by December <br />31, 2010. The total amount to be borrowed from the Rainy Day Fund is $1,850,000. The <br />cash balance in the Rainy Day Fund is currently $8,502,078. <br />I plan to present this ordinance at the Personnel & Finance Committee meeting on June <br />23, 2010. Thank you for your consideration in this matter. <br />Sincerely, <br />Gregg ientara <br />City Contr ler <br />c: Common Council Members <br />Mayor Stephen Luecke <br />COUNTY-CITY BUILDING 227 W. JEFFERSON BOULEVARD SOUTH BEND, INDIANA 4660 1-1 830 ?~ <br />PHONE 574/235-9216 FAx 574/235-9928 TDD 574/235-5567 <br />