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SUBSTITUTE BILL NO. <br /> Q 112-89 <br /> ORDINANCE NO. 80 Q- l n <br /> AN ORDINANCE TRANSFERRING $110,168 <br /> AMONG VARIOUS ACCOUNTS WITHIN THE <br /> DEPARTMENT OF ECONOMIC DEVELOPMENT <br /> STATEMENT OF PURPOSE AND INTENT: <br /> In order to assure the efficient and timely utilization of Community <br /> Development Block Grant Funds and that the immediate needs of specific <br /> activities are met, certain transfers among 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 $110,168.00 is hereby transferred among accounts as <br /> set forth below. <br /> Reduce the following accounts: <br /> Project No. - Description Amount <br /> CD89-607 SBCDA Revolving Loan Fund $ 95,000.00 <br /> CD88-201 Code Enforcement Management & Inspection 8,232.00 <br /> CD87-603 NBDC Revolving Loan 6,936.00 <br /> TOTAL $110,168.00 <br /> Increase the following accounts: <br /> Project No. Description Amount <br /> CD90-601 Redevelopment Administration $ 50,000.00 <br /> CD90-1100 Community Development Administration 60,168.00 <br /> TOTAL $ 110,168.00 <br /> SECTION II. No costs will be incurred or funds expended for any activities <br /> in this ordinance prior to an official release of funds received from the <br /> United States Department of Housing and Urban Development as may be required. <br /> SECTION III. This ordinance shall be in full force and effect from and <br /> after its passage by the Common Council and approval by the Mayor. <br /> Member of the Co n Counci ■14" 1 <br />