Authorizing a Temporary transfer of Idle Funds from various funds within South Bend to the Park Maintenance fund (#201)

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ORDINANCE NO. ~I 3 ~ °I `02- AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA AUTHORIZING THE TEMPORARY TRANSFER OF IDLE FUNDS FROM VARIOUS FUNDS WITHIN THE CIVIL CITY OF SOUTH BEND TO THE PARK MAINTENANCE FUND (#201) STATEMENT OF PURPOSE AND INTENT It is necessary to provide funds for the Park Maintenance Fund prior to the receipt of taxes in the year 2002 in order to meet the current operating expenses of the City, provided for in the budget adopted for the year 2002. There are monies on deposit to the credit of various funds of the City, to wit: the Sewage Works Capital Fund (#642), the Coveleski Capital Fund (#401), and the Recreation Nonreverting Operating Fund (#203) which can be temporarily advanced or transferred to the Park Maintenance Fund (#201). Indiana Code 36-1-8-4 authorizes the Common Council of the City of South Bend, by Ordinance or Resolution adopted by such Council, to advance and transfer to a depleted fund from any other such fund, such amount and for such a period of time as may be prescribed in the Ordinance, but not later than the end of the budget year during which the transfer occurs. NOW, THEREFORE, BE IT ORDAINED by the Common Council of the City of South Bend, Indiana as follows: Section I. The City Controller of the City of South Bend is authorized to transfer an aggregate amount not to exceed $2,000,000 to various funds from various funds as listed below. The aggregate amount of $2,000,000 to be distributed so as not to exceed at any one time the maximum amounts as set forth below. Any such transfers made must be repaid by December 31, 2002. From Maximum To Maximum Sewage Works $1,500,000 Park Maintenance $1,500,000 Capital Fund (#642) Fund (#201) Coveleski Stadium $250,000 Park Maintenance $250,000 Capital Fund (#401) Fund (#201) Recreation $250,000 Park Maintenance $250,000 Nonreverting Fund (#203) Fund (#201) Section II. Such transfer shall be made for a period of time not to extend beyond December 31, 2002, and such funds to be transferred shall be returned and repaid to the original funds from