Transferring $4,693.30 Park District Construction Park District Bond Redemption Fund

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BILL NO. ORDINANCE NO. 7C ° 4 -ffd AN ORDINANCE TRANSFERRING $4,693.30 FROM THE PARK DISTRICT CONSTRUCTION FUND TO THE PARK DISTRICT BOND REDEMPTION FUND TO BE ADMINI- STERED BY THE DEPARTMENT OF PUBLIC PARKS. STATEMENT OF PURPOSE AND INTENT: WHEREAS, the Department of Public Parks has completed all the projects in the $2,170,000.00 1977 Park Bond Issue and a surplus of $4,693.30 now exists in the Park District Construction Fund and such funds are now needed in the Bond Redemption Fund. NOW, THEREFORE, BE IT ORDAINED by the Common Council of the City of South Bend, Indiana, as follows: Section I. The sum of $4,693.30 is hereby transferred from the Park District Construction Fund to help pay for the interest and principal costs of park bond issues. This transfer . is to be administered by the Department of Public Parks as set forth below: Account Description Amount 65 Park District Bond Redemption Fund $4,693.30 Total $4,693.30 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. 2nd av,DfV a N10 APFk0VE1,) REF[RRED PASSES SOUT BEND COMMO Me e N COUNCIL FILED IN CLERK'S OFFICE JAN 2;d' 1982 Irene Gammon CITY CLERK, SOUTH BEND, IND.