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RESOLUTION NO. 3 S 2_c� - �)S <br />A RESOLUTION OF THE COMMON COUNCIL OF <br />THE CITY OF SOUTH BEND, INDIANA AUTHORIZING DEPOSIT OF <br />VARIOUS NON -TAX REVENUE MONIES INTO FUND 209 <br />WHEREAS, the South Bend Common Council established Fund 209 by Ordinance #9214 -01 <br />for the deposit and disbursement of federal grants received or receivable by the City for use within <br />the Studebaker / Oliver Plan Revitalization Project; and <br />WHEREAS, the City anticipates receipt of proceeds from Allied Products in settlement of a <br />lawsuit for environmental damage at the Oliver Stamping Plant; and <br />WHEREAS, it is appropriate that any lawsuit settlement proceeds be deposited into Fund 209 <br />because such funds are not tax revenues and are more analogous to grant funds, and because they <br />should be used to further the Studebaker / Oliver Plan Revitalization Project; and <br />WHEREAS, the City may in the future receive other, similar funds which are non -tax <br />revenues such as Indiana state grants funds, private donations, gifts, etc., which are appropriate to <br />deposit in Fund 209. <br />NOW, THEREFORE BE IT RESOLVED BY THE COMMON COUNCIL OF THE CITY <br />OF SOUTH BEND, INDIANA AS FOLLOWS: <br />Section I. All monies received by the City of South Bend from its lawsuit against Allied <br />Products for environmental damage at the Oliver Stamping site shall be deposited into Fund 209 and <br />used for the established purposes of that Fund. <br />Section H. The City of South Bend administration is and shall be authorized to deposit into <br />Fund 209 any non -tax revenue funds which may be received in the future for the specific, designated <br />purposes of Fund 209, which such funds may be Indiana state grants funds, private donations, gifts, <br />refunds, or similar non -tax revenue. <br />Section III. This Resolution shall be in full force and effect from and after its adoption by the <br />Common Council and approval by the Mayor. <br />PRESENTED <br />NOT APPROVED <br />a,DOPTED kO -0_0O <br />Memb r, South Bend Co on Council <br />Red in t;ferk's office <br />OCT 88 2005 <br />