Appropriating $125,000.00 Provide Assistance Economic Development Activities in the Inner-Core Area

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ORDINANCE NO. -7 LJ `7 q 25 AN ORDINANCE APPROPRIATING $125,00.00 FROM THE GENERAL FUND OF THE CITY OF SOUTH BEND, INDIANA TO PROVIDE ASSISTANCE IN CONNECTION WITH CERTAIN ECONOMIC DEVELOPMENT ACTIVITIES IN THE INNER -CORE AREA OF THE CITY OF SOUTH BEND, INDIANA. STATEMENT OF PURPOSE AND INTENT: WHEREAS, the City of South Bend, Indiana in creative and affirmative partnership with its residents, private enterprise and the Federal Government, is committed to the goal of expanding economic opportunities for all its residents. To further this goal, the City of South Bend funds a variety of economic development activities. The assistance provided through these funding efforts will enable the City of South Bend to pursue those economic development activities in a more efficient and effective manner, and WHEREAS, the City can now estimate its miscellaneous revenues to be higher than originally estimated for the activities of the general fund. NOW, THEREFORE, BE IT ORDAINED BY THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA: SECTION I. The sum of $125,000.00 is hereby appropriated for the year 1985 from the General Fund of the City of South Bend, Indiana. This appropriation is to be administered by the Department of Administration and Finance. ACCOUNT 399.0 AMOUNT $125,000.00 SECTION II. This Ordinance shall be in full force and effect from and after its passage by the Common Council and approval by the Mayor.