01-09-89 Council Meeting Minutes

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-REGULAR - MEETING JANUARY -9,, — 9 =— a -— - - - - -- -- -- - -- - - -- ---- - - - - -- --- - - - -r- I.C. 5- 13 -9 -1, et seq., enables the Controller, or her designee to invest such idle funds with the approval of the Common Council. I.C. 5- 13 -5 -5, et seq., authorizes the transaction of the City business with financial institutions through the use of electronic funds transfer upon proper resolution by the Common Council. NOW, THEREFORE, BE IT ORDAINED by the Common Council, as follows: SECTION I. That during the calendar year 1989, the Controller or her designee may invest and reinvest any idle funds of the Civil City of South Ben for such periods of time that she determines are not needed for the normal operations of the various departments of the Civil City, in the manner permitted by I.C. 5- 13 -9 -1, et seq. SECTION II. The Controller of the City of South Bend, or her designee, is hereby authorized to conduct the following business transactions with financial institutions through the use of electronic fund transfers; a. Transfer of monies on deposit from one approved public depository of the City to another. b. Transfer of monies into and between various payroll accounts. C. Transfer of monies for the purchase and redemption of various securities for investment purposes. SECTION III. The purpose of this Resolution, "electronic funds transfer "means any transfer of funds other than a transaction originated by check, draft, or similar paper instrument, that is initiated through an electronic terminal, telephone, computer or initiated through an electronic terminal, telephone, computer or magnetic tape for the purpose of ordering, instructing, or authorizing a financial institution to debit or credit an account. SECTION IV. The Controller of the City of South Bend, or her designee, is hereby directed and required to maintain adequate documentation of the transactions affected by electronic funds transfer so that they may be audited as provided by law. SECTION V. The City of South Bend, in accordance with I.C. 4- 8.1 -2 -7 (c), elects to receive distributions from the State of Indiana by means of electronic transfer of funds. SECTION VI. This Resolution shall be in full force and effect from and after its passage by the Common Council and approval by the Mayor. /s/ Ann Puzzello Member of the Common Council A public hearing was held on the resolution at this time. John Leisenring, Deputy Controller, made the presentation for the resolution. He indicated this allows the Controller to invest idle funds to earn interest. Joseph Guentert, 3510 Corby, indicated he hoped there was a paper trail on the electric transfers. Council Member Coleman made a motion to adopt this resolution, seconded by Council Member Duda. The resolution was adopted by a roll call vote of nine ayes. BILLS. FIRST READING BILL NO. 1 -89 A BILL APPROPRIATING $10,300.00 FROM THE MORRIS CIVIC AUDITORIUM IMPROVEMENT FUND FOR PURPOSE OF COMPLETION OF THE NEW SOUND SYSTEM, PURCHASE OF NEW MICROPHONES, PURCHASE OF A NEW CYCLORAMA AND PURCHASE OF NEW DOORS FOR LOADING AREA BACKSTAGE AT THE MORRIS CIVIC AUDITORIUM. This bill had first reading. Council Member Voorde made a motion to set this bill for second reading and public hearing January 23, and refer it to the Personnel and Finance Committee, seconded by Council Member Coleman. The motion carried. BILL NO. 2 -89 A BILL APPROPRIATING $50,000.00 FROM THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT'S SECRETARY'S DISCRETIONARY FUND FOR THE PURPOSE OF ASSISTING IN THE EXPANSION OF THE LASALLE PARK DISTRICT COUNCIL CHILD CARE FACILITY. This bill had first reading. Council Member Luecke made a motion to set this bill for second reading and public hearing January 23, and refer it to the Human Resources Committee, seconded by Council Member Coleman. The motion carried. BILL NO. 3 -89 A BILL ANNEXING TO AND BRINGING WITHIN THE CITY LIMITS OF SOUTH BEND, INDIANA, CERTAIN LAND LOCATED IN PENN TOWNSHIP, ST. JOSEPH COUNTY, INDIANA.