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Q ORDINANCE NO. �o 709, <br /> �9� <br /> AN ORDINANCE TRANSFERRING $104,020 AMONG <br /> VARIOUS ACCOUNTS WITHIN THE DEPARTMENT OF <br /> COMMUNITY AND ECONOMIC DEVELOPMENT <br /> STATEMENT OF PURPOSE AND INTENT: <br /> In order to assure the efficient and timely utilization of Community Development Block <br /> Grant Funds and that the immediate needs of specific activities are met, transfers among <br /> accounts are necessary. <br /> NOW, THEREFORE, BE IT ORDAINED by the Common Council of the City of South <br /> Bend, Indiana, as follows: <br /> SECTION I. The sum of $104,020 is hereby transferred among accounts as set forth <br /> below. <br /> Reduce the following accounts: <br /> Project No. Description Amount <br /> CD93-102 West Washington Housing $89,020 <br /> CD95-111 SBHF Homeownership Project 15.000 <br /> TOTAL $104,020 <br /> Increase the following account: <br /> Project No. Description Amount <br /> CD96-604 Western/Chapin Commercial Development $104,020 <br /> TOTAL $104,020 <br /> SECTION H. No costs will be incurred or funds expended for any of the activities in this <br /> ordinance prior to an official release of funds received from the United States Department of <br /> Housing and Urban Development as may be required. <br /> SECTION III. 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 /> G <br /> Member of the Common Cou it <br />