Allowing Funds to be Temporarily Transferred from the Track Elevation Fund to the Model Cities Fund

Home Browse Search

ORDINANCE NO. 5163 -70 AN ORDINANCE ALLOWING FUNDS TO BE TEMPORARILY TRANSFERRED FROM THE TRACK ELEVATION FUND TO THE MODEL CITIES FUND WHEREAS, the City of South Bend Model Cities Program has been authorized to submit its comprehensive city demonstration program to the Secretary of Housing and Urban Development for funding under Title I of the Demonstration Cities and Metropolitan Development Act of 1966; and WHEREAS, final approval of this proposal by the Secretary of Housing and Urban Development is not anticipated for at least three months and during the interim period additional funds are necessary to carry on the South Bend Model Cities Program; and WHEREAS, sufficient money on deposit in the Track Elevation Fund can be temporarily advanced to the depleted Model Cities Fund; NOW, THEREFORE, be it ordained by the Common Council of the City of South Bend, Indiana: Section 1. That the City Controller is authorized to tempor- arily transfer Thirty Seven Thousand Three Hundred ($37,300.00) Dollars from the Track Elevation Fund to the Model Cities Fund. Section 2. That in the event the Model Cities Program is not funded by the Secretary of Housing and Urban Development during the 1970 calendar year the Common Council of the City of South Bend hereby commits itself to appropriate Thirty Seven Thousand Three Hundred ($37,300.00) Dollars from the General Fund to reimburse the Track Ele- vation Fund, before the end of calendar year 1970. Section 3. That this ordinance effect from and after its passage. 1st & 2nd READING 3 -9 -70 C0� "G,�ITTEE OF THE WHOLE PUB!10 HEARING - Special Meeting - 3 -13 -70 3rd Rc ^!:';G 3 -13 -70 T !: ?i '2VED RcFc,RED PASSED 3 -13 -70 e in full force and FILED IN CLERK'S OFFICE MAR 5 1970 KATHRYN L. BLQUGH CITY CLETN, SOUTH B ivD, ;p,D.