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<br />REGULAR MEETING JANUARY 26, 1981
<br />REGULAR MEETING RECONVENED (CONTINUED)
<br />WHEREAS, a necessity exists to provide funds for the Corporation General, Park
<br />Maintenace, Police Pension, Fire Pension, Human Relations and Fair: Employment Practices
<br />Commission and Century Center Operations Fund prior to the receipts of taxes in the year
<br />1981 in order to meet the current operating expenses of the City, provided for in the
<br />budget and appropriation adopted for the year 1981 which expenses must be met prior to the
<br />receipts of taxes and other revenues in the year 1981 and
<br />WHEREAS, there are monies on deposit to the credit of various funds of the City,
<br />to wit: Cumulative Sewer Building and Sinking, Federal Assistance Grant, Wastewater
<br />Sinking, Wastewater Depreciation and Water Works Depreciation Funds which can be tempor-
<br />arily_ advanced or transferred to the various funds already mentioned, and
<br />WHEREAS, Indiana Code`19- 11 -2 -1 and 19- 11 -2 -2 authorize the Common Council of
<br />the Civil. City of South Bend, by Resolution adopted by such Council, to advance and trans-
<br />fer to a depleted fund from any other such fund, such amount and for such period of time
<br />as may be prescribed in the Resolution.
<br />NOW, THEREFORE, BE IT RESOLVED BY THE COMMON COUNCIL OF THE CITY OF SOUTH BEND,
<br />INDIANA:
<br />SECTION I. That the City Controller of the CIty of South Bend is authorized to
<br />transfer an aggregate amount not to exceed $4,310,000.00 to various funds from various
<br />funds as listed below. The aggregate amount of $4,310,000.00 to be distributed so as
<br />not to exceed at any one time the maximum amounts as set forth below. Any such transfers
<br />made must be repaid by December 31, 1981.
<br />FROM: MAXIMUM
<br />Cumulative Sewer
<br />Building and Sinking Fund
<br />Federal Assistance Grant
<br />Fund
<br />Wastewater Sinking Fund
<br />Wastewater Depreication
<br />Fund
<br />Water Works Depreciation
<br />Fund
<br />TO: MAXIMUM
<br />$1,900,000.00
<br />Corporation General
<br />$3,4001000.00
<br />Park Maintenance
<br />1,300,000.00
<br />Fund
<br />500,000.00
<br />500,000.00
<br />Police Pension Fund
<br />150,000.00
<br />360,000.00
<br />Fire Pension Fund
<br />150,000.00
<br />Century Center
<br />250,000.00
<br />Operations Fund
<br />90,000.00
<br />$4,310,000.00
<br />$4,310,000.00
<br />SECTION II. Such transfer shall be made for a period of time not to extend
<br />beyond December 31, 1981, and such funds so- transferred shall be returned and repaid
<br />to the original funds from which they were transferred.
<br />SECTION III. This Resolution shall be in full force and effect from and after
<br />its adoption by the Common Council and its approval by the Mayor.
<br />/s /Joseph T. Serge
<br />Member of the Common Council
<br />A public hearing was held on the resolution at this time. Joseph Kernan, City Controller,
<br />Indicated that these transfers, which must be reconciled by December 31, 1981, permit
<br />individual City funds to stay out of the red for operating purposes. Council Member
<br />Szymkowiak made a motion to adopt this resolution, seconded by Council Member Taylor.
<br />The resolution was adopted by a roll call vote of nine ayes.
<br />RESOLUTION NO. 853 -81
<br />A RESOLUTION AUTHORIZING THE CONTROLLER OF THE CITY OF
<br />SOUTH BEND, INDIANA TO INVEST CERTAIN IDLE FUNDS DURING
<br />THE YEAR 1981 IN ACCORDANCE WITH CHAPTER 9 OF THE 1945
<br />ACTS OF THE GENERAL ASSEMBLY OF THE STATE OF INDIANA, AS
<br />AMENDED.
<br />WHEREAS, there are certain idle funds of the Civil City of South Bend which
<br />may be invested for periods of time withor3t affecting the operations of the various
<br />departments of theCity, and;
<br />WHEREAS, Chapter 9 of the 1945 Acts of the General Assembly of the State of
<br />Indiana enable the Controller to invest such idle funds with the approval of the Common
<br />Council.
<br />NOW, THEREFORE, BE IT RESOLVED BY THE COMMON COUNCIL OF THE CITY OF SOUTH BEND,
<br />INDIANA:
<br />SECTION I. That during the calendar year 1981, the Controller or his Chief
<br />Deputy invest certain idle funds of the Civil City of South Bend for such periods of time
<br />that he determines are not needed for thenormal operations of the various departments of
<br />Civil City.
<br />SECTION II. This Resolution shall be in full force and effect from and after
<br />its passage by the Common Council and its approval by the Mayor.
<br />/s /Joseph T. Serge
<br />Member of theCommon Council
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