Transferring a Not-to-Exceed Sum of $900,000 Satisfy Contractual Obligation to the Potawatomi Zooligical Society

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ORDINANCE NO. , 1.0 024— 1 AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, TRANSFERRING A NOT -TO- EXCEED SUM OF $900,000.00 WITHIN PARKS AND RECREATION GENERAL FUND #201, FROM PERSONNEL COSTS INTO OTHER PROFESSIONAL SERVICES, AND APPROPRIATING SAID MONIES TO SATISFY CONTRACTUAL OBLIGATION TO THE POTAWATOMI ZOOLOGICAL SOCIETY STATEMENT OF PURPOSE AND INTENT The City of South Bend through its Board of Park Commissioners entered into a Lease and Management Agreement (the Agreement) with the Potawatomi Zoological Society (PZS), effective January 1, 2014, by which the City granted to PZS all rights to manage and operate the Potawatomi Zoo for a period of five years. Among the obligations of the City of South Bend pursuant to the Agreement is to pay to PZS in calendar year 2014 a total contribution of $900,000.00, payable in two equal installments, the first on January 15, 2014, and the second on June 1, 2014. The City is entitled to certain credits from its annual contribution which will reduce the payment due on June 1, 2014. The amount of the contribution due June 1, 2014 will be reduced by personnel costs paid to Loaned employees who remain on the City of South Bend payroll. Because the City's financial obligation to the PZS under the Agreement was unknown when the City's 2014 Budget was approved, it is necessary at this time to transfer a not -to- exceed sum of $900,000 in monies which were originally designated as Personnel Costs within Parks and Recreation Fund #201 to Other Professional Services within Fund #201 and appropriate them for payment to PZS per the terms of the Agreement. This ordinance accomplishes that purpose. NOW, THEREFORE, BE IT ORDAINED BY THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA as follows: SECTION I. The not -to- exceed sum of Nine Hundred Thousand Dollars ($900,000) be and hereby is transferred within Parks and Recreation Fund #201, from Personnel Costs to Other Professional Services, and it is further appropriated and set aside therein for purpose of payment to the Potawatomi Zoological Society (PZS) in calendar year 2014 pursuant to the terms and obligations of the Board of Park Commissioners' Lease and Management Agreement with PZS. SECTION II. This Ordinance shall be in full force and effect from and after its passage by the Common Council and approval by the Mayor.