Laserfiche WebLink
SECTION III. For purpose of this Resolution, "electronic funds transfer" means any transfer <br />of funds, other than a transaction originated by check, draft, or similar paper instrument, that is <br />initiated through an electronic terminal, telephone, computer or magnetic tape for the purpose of <br />ordering, instructing, or authorizing a financial institution to debit or credit an account. <br />SECTION IV. The Controller of the City of South Bend, or her designee, is hereby directed <br />and required to maintain adequate documentation of the transactions affected by electronic funds <br />transfer so that they may be audited as provided by law. <br />SECTION V. The City of South Bend, in accordance with I.C. 4- 8.1- 2 -7(c), elects to receive <br />distributions from the State of Indiana by means of electronic transfer of funds. <br />SECTION VI. The Controller of the City of South Bend is hereby authorized to contract with <br />a depository institution for the operation of a cash management system. <br />SECTION VII. This Resolution shall be in full force and effect from and after its passage by <br />the Common Council and approval by the Mayor. <br />PRESENTED ti-lS'g4{ <br />NOT APPROVED <br />ADOPTED- �-Q -�� <br />Member of the Common Council <br />Filed In Clerk's Office <br />APR 2 ? i999 <br />LORETTA J. DUDA <br />CITY CLERK, SO. BEND, IN. <br />