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r <br /> BILL NO. <br /> ORDINANCE NO. 365(// <br /> 0-q/.. <br /> AN ORDINANCE TRANSFERRING $14,968.00 AMONG VARIOUS ACCOUNTS WITHIN THE <br /> DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT <br /> Statement of Purpose and Intent: <br /> In order to assure the efficient and timely utilization of Community Development Block Grant <br /> Section 108 Funds and program income received therefrom, and to further the implementation of certain <br /> community objectives, transfers are needed: <br /> NOW, THEREFORE, BE IT ORDAINED by the Common Council of the City of South Bend, <br /> Indiana, as follows: <br /> SECTION I. The sum of$14,968.00 is hereby transferred among accounts as set forth below: <br /> Reduce the following: Amount <br /> Section 108 Property Sales $14,968 <br /> TOTAL $14,968 <br /> Increase the following: Amount <br /> Section 108 Loan Payment $14,968 <br /> TOTAL $14,968 <br /> SECTION II. No costs will be incurred or funds expended for any of the activities addressed <br /> in this ordinance prior to completion of any required procedures pursuant to the Environmental Review <br /> Process specified under Title Twenty-four (24) of the Code of Federal Regulations, Part Fifty-eight (58) <br /> and any designated release of funds from the United States Department of Housing and Urban <br /> Development. <br /> SECTION III. This Ordinance shall be in full force and effect from and after its passage by the <br /> Common Council and approval by the Mayor. <br /> ////A ►�L�L. / / <br /> Me •0 of the Commo/ ncil <br />