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COUNTY-CITY BUILDING -F3= >, PHONE 574-235-921$ <br /> 227 VU,JEFFERSON BOULEVARD QU�_ l'- Ax 574-235-9928 <br /> SOUTH BEND,IN 46601 - �' '' <br /> G 3 <br /> PEACE i,3 <br /> z>365r f <br /> CITY OF SOUTH BEND STEPHEN J.LUECKE,MAYOR <br /> OFFICE OF ADMINISTRATION& FINANCE <br /> GREW D.ZIENTARA, CITY CONTROLLER <br /> June 10, 2011 <br /> Mr. Derek Dieter <br /> President, South Bend Common Council <br /> 4'h Floor, County-City Building <br /> South Bend, IN 46601 <br /> Re: Ordinance of the Common Council Transferring Monies from the Rainy Day Fund to Support <br /> Temporary Cash Flow Issue Negative Cash Balances in Certain City Funds <br /> Dear President Dieter: <br /> Due to possible delays in receipt of certain property tax revenue, State of Indiana distributions of cigarette <br /> tax revenue from the State /County, and police and fire pension relief reimbursement payments from the <br /> State of Indiana it has become necessary to temporarily transfer monies from various funds within the <br /> City to depleted funds to meet current operational expenses. All funds from which temporary transfers <br /> are to be made have sufficient monies to accommodate the temporary transfers. <br /> In the event that the property tax distribution, cigarette tax distribution, and police and fire pension relief <br /> reimbursements are received prior to June 30, 2011, and sufficient to negate the deficit position, the <br /> temporary transfer of funds approved by this ordinance will be unnecessary and will not be actioned. <br /> Should such transfers of temporary funds be required, the transfers will be returned to the transferring <br /> fund, at the earliest position, upon receipt of sufficient distributions to the funds in question. <br /> City Administration requests the Common Council to consider this Bill at the June 13, 2011 Common <br /> Council meeting, under the introduction of "unfinished business", to allow this Bill to move forward for <br /> required public advertising and enable appropriate Council required actions for adoption at the June 27, <br /> 2011 Common Council meeting. <br /> Controller Zientara will present this Bill to the Common Council at the appropriate Council Committee <br /> meeting, public hearing, and at the Council meeting. I am available to discuss any matters concerning <br /> this Bill at the convenience of the Council. <br /> Regar , <br /> Filed In Clerk <br /> Gregg D'tra <br /> f,t,ID 14)1 <br /> cc: Stephen J. Luecke, Mayor of the City of South Bend <br /> C 04 69K,10 N g11SWo,IN <br />