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REGULAR MEETING FEBRUARY 25, 1980
<br />REGULAR MEETING RECONVENED (CONTINUED
<br />RESOLUTION NO. 761 -80 A RESOLUTION AUTHORIZING THE TEMPORARY TRANSFER OF IDLE FUNDS
<br />OF THE CITY OF SOUTH BEND, INDIANA, FROM THE CUMULATIVE SEWER
<br />BUILDING AND SINKING FUND, FEDERAL ASSISTANCE GRANT FUND, WASTE-
<br />WATER DEPRECIATION FUNDS, WATER WORKS DEPRECIATION FUND, AND
<br />WASTEWATER GENERAL FUND, AND WASTEWATER CONSTRUCTION FUND, TO
<br />THE CORPORATION GENERAL, PARK MAINTENANCE, POLICE PENSION, FIRE
<br />PENSION AND HUMAN RELATIONS AND FAIR EMPLOYMENT PRACTICES COM-
<br />MISSION FUNDS AND CENTURY CENTER OPERATIONS FUND, ALL FUNDS
<br />BEING WITHIN THE CIVIL CITY OF SOUTH BEND, INDIANA.
<br />WHEREAS, a necessity exists to provide funds for the Corporation General, Park Maintenance,
<br />Police Pension, Firemen Pension, Human RElations and Fair Employment Practices Commission and
<br />Century Center Operations Fund prior to the receipts of taxes in the year 1980 in order to meet
<br />the current operation expenses of the City, provided for in the budget and appropriation adopted
<br />for the year 1980 which expenses must be met prior to the receipts of taxes and other revenues
<br />in the year 1980, and
<br />WHEREAS, there are monies on deposit to the credit of various funds of the City, to wit:
<br />Cumulative Sewer Building and Sinking, and Federal Assistance Grant, Wastewater General, Waste -
<br />water Depreciation, Water Works Depreciation Funds and Wastewater Construction Fund which can
<br />be temporarily 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 the Civil
<br />City of South Bend, by Resolution adopted by such Council, to advance and transfer to a depleted
<br />fund from any other such fund, such amount and for such period of time as may be prescribed in
<br />the Resolution.
<br />NOW, THEREFORE, BE IT ORDAINED BY THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA:
<br />SECTION I. That the City Controller of the City of South Bendis authorized to transfer an
<br />aggregate amount not to exceed $4,650,000.00 to various funds from various other funds as listed
<br />below. The aggregate amount of $4,650,000.00 to be distributed so as not to exceed at any one
<br />time the maximum amounts as set forth below. Any such transfers made must be repaid by
<br />December 31, 1980.
<br />FROM: MAXIMUM TO: MAXIMUM
<br />Cumulative Sewer Corporation General $3,680,000.00
<br />Building & Sinking Fund $1,000,000.00 Park Maintenance 500,000.00
<br />Federal Assistance Grant
<br />Fund 750,000.00 Police Pension Fund 200,000.00
<br />Firemen Pension Fund 200,000.00
<br />Wastewater General Fund 500,000.00 Human Relations & Fair
<br />Practices Comm. Fund 20,000.00
<br />Wastewater Depreciation
<br />Fund 750,000.00
<br />Wastewater Construction Century Center Operations
<br />Fund 950,000.00 Fund 50,000.00
<br />Water Works Deprecation
<br />Fund 700,000.00
<br />$4,650,000.00 $4,650,000.00
<br />SECTION II. Such transfer shall be made for a period of time not to extend beyond
<br />December 31, 1980, and such funds so transferred shall be returned and repaid to the original
<br />funds from which they were transferred.
<br />SECTION III. This resolution shall be in full force and effect from and after its
<br />adoption by the Common Council and its approval by the Mayor.
<br />/s /Lewis A. McGann
<br />Member of the Common Council
<br />A public hearing was held on the resolution at this time. Mr. Joseph Kernan, City Controller,
<br />indicated this transfer of idle funds permits individual City funds to stay out of the red
<br />for operation purposes. He indicated this resolution is only effective until December 31, 1980.
<br />Council Member Kopczynski made a motion to adopt this resolution, seconded by Council Member
<br />Dombrowski. The resolution was adopted by a roll call vote of nine ayes.
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