Authorizing the Temporary Transfer of Idle Funds of the City of South Bend from Various Funds to Various Funds

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RESOLUTION NO. OZ6I' /(1 A RESOLUTION AUTHORIZING THE TEMPORARY TRANSFER OF IDLE FUNDS OF THE CITY OF SOUTH BEND, INDIANA, FROM VARIOUS FUNDS TO THE VARIOUS FUNDS WITHIN THE CIVIL CITY OF SOUTH BEND, INDIANA STATEMENT OF PURPOSE AND INTENT: It is necessary to provide funds for the Water Works Operating Fund No. 620, in order to meet the current operating expenses. There are monies on deposit to the credit of the Wastewater Fund No. 642, which can be temporarily advanced or transferred to the aforementioned fund. Indiana Code 36 -1 -8 -4 authorizes the Common Council of the City of South Bend, by 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 Resolution. 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 $700,000.00 from the Wastewater Fund No. 642 to the Water Works Operating Fund No. 620. Any such transfers must be repaid by December 31, 1998. FROM: MAXIMUM M- Wastewater $700,000.00 Water Works Fund No. 642 Operating Fund No. 620 Section 11, Such transfer shall be made for a period of time not to extend beyond December 31, 1998, and any funds so transferred shall be returned and repaid to the Wastewater Fund No. 642. Section III, This Resolution shall be in full force and effect from and after its passage by the Common Council and approval by the Mayor. 11 PRESENTED 7-,2 7- / 9 NOT APPROVED Q �j ADOPTED-7 _ 27- / j( 0 Member of the Common Council Filed in Clerk's Off cc JUL 2 2 1998 �Ai. LORETfA J. DUDA WYCLEM SO. SEND, EN.