Appropriating Funds Sewage Works Depreciation Fund

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ORDINANCE NO. 7 9099-8s BILL NO. AN ORDINANCE APPROPRIATING FUNDS FROM THE SEWAGE WORKS DEPRECIATION FUND FOR EQUIPMENT PURCHASE STATEMENT OF PURPOSE AND INTENT: In order for the Environmental Services Division of the Board of Public Works to provide adequate solid waste collection to the citizens of the City of South Bend, it is necessary that eight (8) packers and eight ( 8) chassis be purchased. To facilitate said purchase it is necessary that certain funds be appropriated for same from the Sewage Works Depreciation Fund. NOW, THEREFORE, BE IT ORDAINED by the Common Council of the City of South Bend , as follows : Section I.Three Hundred .NinetyThousand Dollars ($390 ,000.00) shall be appropriated from the Sewer Works Depreciation Fund (Fund #39) to the Motor Vehicle Equipment Account within the budget of the Bureau of Sanitation, which funds are to be used exclusively for the purchase of eight packers bodies and eight chassis pursuant to bids received by the Board of Public Works on July 1, 1985. Section II. The packers and chassis purchased with said funds shall be leased by the Bureau of Sanitation to the Bureau of Solid Waste for a period of ten ( 10) years . Section III. Monthly lease payments for said packers and chassis shall be made by the Bureau of Solid Waste to the Bureau of Sanitation, which payments shall be subject to appropriations, until the full purchase price plus six percent (6%) annual interest on the unpaid balance is paid . Payments shall commence upon delivery and acceptance of packers and chassis by the Bureau of Sanitation. Section IV. After all lease payments have been made the packers and chassis shall become the property of the Bureau of Solid Waste . Section V. This ordinance shall be in full force and effect upon passage by the Common Council and approval by the Mayor.