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ORDINANCE NO. <br /> <br />AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, <br />INDIANA TRANSFERRING FROM WATER WORKS BOND RESERVE FUND #628 <br />TO WATER WORKS CAPITAL FUND #622 THE SUM OF $2,168,000 AND <br />APPROPRIATING $1,512,000 WITHIN WATER WORKS FUND #622 <br />FOR CAPITAL EXPENDITURES <br />STATEMENT OF PURPOSE AND INTENT <br />The South Bend Common Council by Ordinance No. 9328-02 on May 28, 2002 released a <br />debt service cash reserve fund required as a condition of prior Water Works bonds issued in 1999 <br />and 2000, and replaced this cash reserve fund with a surety. Accordingly, the Water Works Bond <br />Reserve Fund #628 which totals $2,168,000 is available for other use. <br />The Water Works Division of the Department of Public Works is in need of a portion of the <br />previously designated bond reserve funds in order to improve Water Works' land and building sites <br />and facilities, and to purchase vehicles, which capital expenditures total $1,012,000. The Water <br />Works Division wishes to appropriate an additional $500,000 for capital exigencies which may arise <br />during remaining calendar year 2002, i.e. a total of $1,512,000 in appropriated funds. Accordingly, <br />the total amount of the Bond Reserve Fund #628 ($2,168,000) should be transferred to Water Works <br />Capital Fund #622 from which Fund the sums of $1,012,000 should be appropriated for specific <br />capital expenditures, and the remaining $500,000 of the $1,512,000 in appropriated funds should <br />be retained for capital contingencies in calendar year 2002. <br />NOW, THEREFORE, BE IT ORDAINED by the Common Council of the City of South <br />Bend as follows: <br />Section I. The sum of two million, one hundred sixty eight thousand dollars ($2,168,000) <br />is hereby transferred from Water Works Bond Reserve Fund #628 to Water Works Capital Fund <br />#622. <br />Section II. The sum of one million twelve thousand dollars ($1, 012,000) is hereby <br />appropriated and set aside within Water Works Capital Fund #622 to be used for the following <br />capital expenditures: <br />LAND IMPROVEMENTS: <br />Paint North Reservoir 50,000 <br />AMR Units: Meter Replacement & Ramar Radio Installation Program 225,000 <br />Recondition Well: Carnage Hills #3 20,000 <br />Replacement Well: North Station #5 97,000 <br />Land: Future Well Site 200,000 <br />