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motion to adopt this resolution, s,
<br />was adopted by a roll call vote of
<br />RESOLUTION NO. 1689 -8 A RES,
<br />IDLE
<br />VARIO'
<br />CITY
<br />STATEMENT OF PURPOSE AND
<br />conded by Council Member Duda. The resolution
<br />nine ayes.
<br />LUTION AUTHORIZING THE TEMPORARY TRANSFER OF
<br />;UNDS OF THE CITY OF SOUTH BEND, INDIANA, FROM
<br />S FUNDS TO THE VARIOUS FUNDS WITHIN THE CIVIL
<br />F SOUTH BEND, INDIANA.
<br />It is necessary to provide fun s for the Corporation General, Park Maintenance,
<br />Police Pension and Fire Pension, Discovery Hall and Cumulative Capital Improvement
<br />Fund prior to the receipt of taxes in the year 1989 in order to meet the current
<br />operating expenses of the City, pr vided for in the budget adopted for the year
<br />1989.
<br />There are monies on deposit to the credit of various funds of the City, to
<br />wit: Cumulative Sewer Building an Sinking, Sewage Works Depreciation, Sewage
<br />Works Operating, Sewage Works Insu ance Fund, Water Works Operating, Sewers Repair,
<br />and Tax Incremental Financing Bond Proceeds which can be temporarily advanced or
<br />transferred to the various funds already mentioned.
<br />Indiana Code 36 -1 -8 -4 authorize
<br />Bend, by Resolution adopted by suck
<br />fund from any other such fund such
<br />prescribed in the Resolution.
<br />NOW, THEREFORE, BE IT ORDAINED
<br />Indiana as follows:
<br />s the Common Council of the Civil City of South
<br />Council, to advance and transfer to a depleted
<br />amount and for such a period of time as may be
<br />by the Common Council of the City of South Bend,
<br />SECTION I. The City Controllet of the City of South Bend is authorized to
<br />transfer an aggregate amount not t exceed $2,850,000.00 to various funds from
<br />various funds as listed below. Th aggregate amount of $2,850,000.00 to be
<br />distributed so as not to exceed at any one time the maximum amounts as set forth
<br />below. Any such transfers made mu 4t be repaid by December 31, 1989.
<br />FROM;
<br />MAXIM1TM
<br />TO
<br />MAXIMUM
<br />Cumulative Sewer Building
<br />and Sinking Fund
<br />200,000
<br />Corporation General
<br />2,000,000
<br />S/B Clay Sewer Wks Fund
<br />50,000
<br />Police Pension Fund
<br />200,000
<br />Liability Insurance
<br />Cumulative Capital
<br />Premium & Reserve Fund
<br />800,0
<br />0
<br />Improvement Fund
<br />50,000
<br />Local Roads and Streets
<br />500,0)0
<br />Discovery Hall
<br />100,000
<br />Water Works Meter Fund
<br />400,0)0
<br />Fire Pension
<br />200,000
<br />T.I.F. Bond Proceeds
<br />900,0)0
<br />Park Maintenance Fund
<br />300,000
<br />$2,850,0)0
<br />$2,850,000
<br />SECTION II. Such transfer sh
<br />beyond December 31, 1989 and such
<br />repaid to the original funds from
<br />SECTION III. This Resolution
<br />its passage by the Common Council
<br />A public hearing was held on the
<br />indicated the Personnel and Fina .
<br />recommended it to the Council fa
<br />the presentation for the resolut
<br />allow the controller's office to
<br />of the City. Council Member Col
<br />seconded by Council Member Niezg
<br />vote of nine ayes.
<br />RESOLUTION NO. 1690 -8 A
<br />STATEMENT OF PURPOSE AND
<br />There are certain idle funds
<br />invested for periods of without
<br />of the city.
<br />be made for a period of time not to exceed
<br />ds to be transferred shall be returned and
<br />ch they were transferred.
<br />1 be in full force and effect from and after
<br />approval by the Mayor.
<br />/s/ Ann Puzzello
<br />Member of the Common Council
<br />solution at this time. Council Member Voorde
<br />Committee had met on this resolution and
<br />ably. John Leisenring, Deputy Controller, made
<br />He indicated this bill is filed annually to
<br />ke temporary loans internally to different funds
<br />n made a motion to adopt this resolution,
<br />ki. The resolution was adopted by a roll call
<br />ION AUTHORIZING THE CONTROLLER TO INVEST AND
<br />CERTAIN IDLE FUNDS DURING THE YEAR 1989 IN
<br />E WITH IC. 5- 13 -9 -1, ET SEQ., AND ALSO
<br />NG THE CONTROLLER TO CONDUCT THE CITY'S
<br />WITH FINANCIAL INSTITUTIONS THROUGH THE USE
<br />ONIC FUND TRANSFERS
<br />the Civil City of South Bend which may be
<br />cting the operating of the various departments
<br />
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