8621-95 Appropriating Monies Defraying Expenses Football Hall of Fame

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SUBSTITUTE ORDINANCE NO. X621- 9S AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND APPROPRIATING MONIES FOR THE PURPOSE OF DEFRAYING THE EXPENSES OF THE COLLEGE FOOTBALL HALL OF FAME FOR THE FISCAL YEAR BEGINNING JANUARY 1, 1995 AND ENDING DECEMBER 31, 1995 INCLUDING ALL OUTSTANDING CLAIMS AND OBLIGATIONS, FIXING A TIME WHEN THE SAME SHALL TAKE EFFECT, AND ESTABLISHING CERTAIN ENTERPRISE FUNDS STATEMENT OF PURPOSE AND INTENT The City of South Bend, Indiana, through its Century Center Board of Managers operates the College Football Hall of Fame which shall, during calendar year 1995, realize revenues and incur expenses in connection with the operation and maintenance of the same. The Common Council of the City of South Bend has determined that it is necessary to appropriate the revenues of the College Football Hall of Fame in order to defray the expenses of the College Football Hall of Fame and that it is in the best interests of the City and the public to establish enterprise funds for the purpose of receiving the revenues, and out of which to pay the expenses, of the College Football Hall of Fame. NOW, THEREFORE, BE IT ORDAINED BY THE COMMON COUNCIL OF THE CITY OF SOUTH BEND AS FOLLOWS: Section I . There is hereby created the College Football Hall of Fame Fund, Fund No. 677, an enterprise fund of the City of South Bend, for the purpose of receiving the revenues, and out of which to pay the expenses, of the College Football Hall of Fame and its various programs . This Fund shall be subject to full accrual accounting and any excess revenues of this Fund shall be subject to distribution in accordance with the terms of the License Agreement between the City of South Bend, Indiana and the National College Football Foundations and College Hall of Fame, Inc. , dated as of July 16, 1993 and the Management Agreement among the City of South Bend, Indiana, the Century Center Board of Managers and the National College Football Foundations and College Hall of Fame, Inc. , also dated as of July 16, 1993, as the same may be amended from time to time. Section II . For the expenses of the College Football Hall of Fame and its various programs, for the fiscal year 1995, the sums of money, as set forth in the attached budget which is made a part hereof, are hereby appropriated and ordered set apart out the funds hereinafter named, and for the purposes hereinafter specified, subject to the laws governing the same. The sums herein appropriated shall be deemed to include all expenditures authorized to be made in said year, unless otherwise expressly stipulated or provided by law. Section III . For the fiscal year ending December 31, 1995, the above referenced appropriations are made within the College Football Hall of Fame Fund. Section IV. This ordinance shall be in full force and effect from and after its passage by the Common Council and approval by the Mayor.