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1992-10-02 Resolution 69
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1992-10-02 Resolution 69
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9/9/2008 2:31:05 PM
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(10) In general, exercise all powers which now or <br />hereafter may be conferred by law-upon the Joint Board for <br />. purposes of carrying out the purposes of this Agreement. <br />11. FISCAL RESPONSIBILITIES <br />(a) Financial and fiscal authority and responsibility for <br />all funds received and administered in connection with this <br />Agreement, shall, on a day to day basis, be vested in the City of <br />South Bend, Department of Redevelopment, with the Auditor or <br />.Controller of the City of South Bend responsible for the receipt, <br />disbursement, and accounting of all Joint Committee funds. <br />(b) The staff of the City of South Bend, Department of <br />Redevelopment shall serve as unpaid staff. to the Joint Committee.. <br />(c) Revenues, Expenses and Surpluses from-the Operation of <br />Blackthorn <br />(i) Redevelopment and Airport agree that the flow of <br />funds concerning the operation and maintenance of~~Blackthorn is <br />generally described at Attachments C, D, and E, hereto, <br />which is made a part hereof. <br />(ii) The operation and. management of Blackthorn, and <br />Blackthorn Expenses, shall be funded from the Blackthorn Revenue. <br />• (iii) Blackthorn shall operate on a fiscal year <br />commencing and ending The annual. operating <br />budget for Blackthorn shall be approved on or before such time as <br />provided by law. Prior to submission to and approval of the <br />budget, Redevelopment shall submit. the proposed. annual operating <br />budget to the Joint Committee far its review and recommendation. <br />(iv) Redevelopment shall provide regular cash flow <br />statements to the Joint Board and Airport. <br />(v) At the end of the fiscal year, Redevelopment shall <br />provide to the Joint Committee and Airport, an audit showing all <br />revenue and expenses for Blackthorn for the fiscal year, and <br />identifying any Surplus. <br />(vi) Within thirty (30) days of the approval by the <br />Joint .Committee of the annual Blackthorn audit, Redevelopment. <br />shall deliver to Airport payment of one-half (1/2) of the <br />Surplus. <br />12. NOTICES <br />All notices, elections, requests and other communications <br />hereunder shall be in writing and shall be deemed sufficiently given <br />when personally delivered or when deposited in the United States <br />mail, postage prepaid, certified or registered, or when delivered to <br />a nationally recognized overnight courier service with guaranteed <br />next business day delivery and addressed as follows (or to such other <br />-12- <br />
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