Laserfiche WebLink
MEMORANDUM: <br />FROM: James V. Barcome, Controller DATE: Feb. 2, 1973 <br />TO: All Members of the Common Council <br />SUBJECT: <br />We have introduced an Ordinance requesting the transfer of $7,116.81 from <br />the Municipal Bonds of 1962 Fund to the General Sinking Fund. <br />The Municipal Bonds of 1962 were used for the construction of sewers <br />and streets in the early 1960's. The purpose for which the bond issue <br />was made had been fulfilled for several years now. <br />Indiana Statutes permit a City to transfer any remaining balances in a <br />bond issue to the City's General Sinking Fund. The General Sinking <br />Fund, as you know, was established for the purpose of paying off all the <br />General Obligation Bonds, therefore, the transfer of this particular <br />amount of Municipal Bonds of 1962 will provide us with that much more of <br />a reserve for meeting our general obligations. <br />We respectfully request your approvgl 'qf this Ordinance. <br />V. Barcome <br />JVB:md <br />FILD IN CLERKS 0MCE <br />FEB 2 1973' <br />1i <br />omr mu�nc, �au�+ gyp, iMf➢. <br />