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RESOLUTION NO. ��Jllb <br />A RESOLUTION AUTHORIZING THE TEMPORARY TRANSFER <br />OF IDLE FUNDS OF THE CITY OF SOUTH BEND, INDIANA, <br />FROM VARIOUS FUNDS TO THE VARIOUS FUNDS WITHIN <br />THE CIVIL CITY OF SOUTH BEND, INDIANA <br />STATEMENT OF PURPOSE AND INTENT: <br />It is necessary to provide funds for the General Fund, Park <br />Maintenance Fund, and Cumulative Capital Improvement Fund prior <br />to the receipt of taxes in the year 1998 in order to meet the <br />current operating expenses of the City, provided for in the <br />budget adopted for the year 1998. <br />There are monies on deposit to the credit of various funds of <br />the City, to -wit: The Liability Insurance Premium and Reserve <br />Fund, the Sewage Works Depreciation Fund, the Sewage Works <br />Operation and Maintenance Reserve Fund, which can be temporarily <br />advanced or transferred to the various funds already mentioned. <br />Indiana Code 36 -1 -8 -4 authorizes the Common Council of the <br />Civil City of South Bend, by Resolution adopted by such Council, <br />to advance and transfer to a depleted fund from any other such <br />fund, such amount and for such a period of time as may be <br />prescribed in the Resolution. <br />NOW, THEREFORE, BE IT ORDAINED by the Common Council of the <br />City of South Bend, Indiana as follows: <br />Section I. The City Controller of the City of South Bend is <br />authorized to transfer an aggregate amount not to exceed <br />$8,200,000 to various funds from various funds as listed below. <br />The aggregate amount of $8,200,000 to be distributed so as not to <br />exceed at any one time the maximum amounts as set forth below. <br />Any such transfers made must be repaid by December 31, 1998. <br />ZR ul u <br />Liability Insurance $1,000,000 <br />Premium 6 Reserve <br />Sewage Works $4,100,000 <br />Depreciation <br />Sewage Works $3,100,000 <br />Operation and Main- <br />tenance Reserve <br />TOTAL $8,200,000 <br />General Fund <br />Park Maintenance <br />Fund <br />Cumulative Capital <br />Improvement Fund <br />$7,000,000 <br />$1,000,000 <br />$ 200,000 <br />$8,200,000 <br />Section II. Such transfer shall be made for a period of time <br />not to extend beyond December 31, 1998, and such funds to be <br />transferred shall be returned and repaid to the original funds <br />from which they were transferred. <br />Section TTT_ <br />from and after <br />the Mayor. <br />This Resolution shall be in full force and effect <br />its passage by the Common Council and approval by <br />PRESENTED _� <br />�/ Filed in Clerk's Office <br />i -l3� <br />NOT APPROVED 2 Q Q APR - $ 199$ <br />ADOPTED q- 13 - ( 0 LCRET7AJ. DUDA <br />CRYCLERV,SO. BEND, IN. <br />Member of the mmon Council <br />