Appropriating $1,500,000.00 Assistance Grant 1982 Police & Fire Pension Costs

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ORDINANCE NO. AN ORDINANCE APPROPRIATING $1,500,000.00 FROM THE FEDERAL ASSISTANCE GRANT, COMMONLY REFERRED TO AS GENERAL REVENUE SHARING FOR 1982 POLICE AND FIRE PENSION COSTS TO BE ADMINISTERED BY THE DEPARTMENT OF ADMINISTRATION AND FINANCE OF THE CITY OF SOUTH BEND, INDIANA. STATEMENT OF PURPOSE AND INTENT: It is the intent of the Common Council and the administration to supplement the 1982 budgets of the Police and Fire Pension Funds by $750,000 each. These monies are available in the General Revenue Sharing Trust Fund and will be used to pay pension benefits to current and past retirees. NOW, THEREFORE, BE IT ORDAINED BY THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, AS FOLLOWS: SECTION I. The sum of $1,500,000.00 is hereby appropriated for the year 1982 from the Federal Assistance Grant Fund, commonly known as the General Revenue Sharing Trust Fund. This appropriation is to be admin- istered by the Department of Administration and Finance and will be distri- buted as set forth below: PROGRAM FA lice and Fire Pension Costs Account Description Amount 150.2 Pensions Personnel Current /Yr. $170,000 150.1 Pensions Retired Personnel 1,330,000 $1,500,000 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. isI READING 3 - a a - 9'')_ PUBLIC HEARING a6_�� 2nd READING NOT APPROVED. REFERRED , PASSED Member of the Common Council FILED 81 CLEWS OFFICE MAR 17 1982 Irene Gammon filly CaR, $00 BEND, IND.