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r <br /> BILL NO. <br /> • <br /> ORDINANCE NO. `7e3S'-8 7 <br /> AN ORDINANCE TRANSFERRING $50, 000 . 00 <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 <br /> Community Development Block Grant Funds and that the immediate needs <br /> of specific activities are met, transfers among accounts are <br /> necessary. <br /> NOW, THEREFORE, BE IT ORDAINED by the Common Council of the <br /> City of South Bend, Indiana: <br /> SECTION I . The sum of $50 , 000 . 00 is hereby transferred among <br /> accounts as set forth below. <br /> Reduce the following accounts: <br /> Project No. Description Amount <br /> CD87-402 Fredrickson Park $50 ,000 . 00 <br /> TOTAL $50 ,000 . 00 <br /> Increase the following accounts: <br /> Project No. Description Amount <br /> CD87-601 Redevelopment Administration $50 ,000 . 00 <br /> TOTAL $50 ,000 . 00 <br /> SECTION II. No costs will be incurred or funds expended for <br /> any of the activities in this ordinance prior to an official release <br /> of funds received from the United States department of Housing and <br /> Urban Development as may be required. <br /> SECTION III. This ordinance shall be in full force and effect <br /> from and after its passage by the Common Council and approval by the <br /> Mayor. <br /> �� <br /> irn! %_IJ -r <br /> " emb-Or of the Common Cou .il <br /> 2/e <br />