9884-08 Transferring $66,702.11 in Dormant monies from various funds to General Fund No. 101 and closing out the

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ORDINANCE NO. ~ b $ ~ ~~~ AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA TRANSFERRING SIXTY-SIX THOUSAND SEVEN HUNDRED TWO DOLLARS AND ELEVEN CENTS ($66,702.11) IN DORMANT MONIES FROM VARIOUS FUNDS TO GENERAL FUND NO. 101 AND CLOSING OUT THE VARIOUS FUNDS STATEMENT OF PURPOSE AND INTENT Presently the total sum of Sixty-Six Thousand Seven Hundred Two Dollars and Eleven Cents ($66,702.11) exists within various Funds of the City of South Bend. These funds are now and have been dormant for a year or more, and the purpose for establishing each fund no longer exists. It is therefore appropriate and efficient to close out and transfer the balance on hand in each account to the City's General Fund No. 101. NOW, THEREFORE, BE IT ORDAINED by the Common Council of the City of South Bend, Indiana, as follows: Section I. The sum of Thirty-Three Cents ($0.33) shall be transferred from Build Indiana Fund No. 230 to General Fund No. 101, and Fund No. 230 shall be closed because the last Fund activity occurred in early 2006, and no further distributions to South Bend from the State of Indiana are expected. Section II. The sum of Four Thousand Five Hundred Fifty-One Dollars and Forty-Nine Cents ($4,551.49) shall be transferred from Redevelopment Bond -Studebaker Corridor Fund No. 310 to General Fund No. 101, and Fund No. 310 shall be closed because there will be no further activity in this Fund. Section III. The sum of Fifty-Two Thousand Seven Hundred Seventy Dollars and Forty- Five Cents ($52,770.45) shall be transferred from Redevelopment Bond -Century Center Fund No. 318 to General Fund No. 101, and Fund No. 318 shall be closed because it is no longer needed due to refinancing of Century Center bonds in 1998 and use of Fund No. 407 to pay the refinanced bonds. Section IV. The sum of Three Thousand Four Hundred Eight Dollars and Eighty-One Cents ($3,408.81) and the sum of Five Thousand Nine Hundred Seventy-One Dollars and Three Cents ($5,971.03) shall be transferred to General Fund No. 101 from EDIT Bond -Plaza Garage - Tax Exempt Fund No. 320 and EDIT Bond -Plaza Garage -Taxable Fund No. 321 respectively, and Funds Nos. 320 and 321 shall be closed because the Funds are no longer needed due to the refinancing of the Plaza Garage bonds in 2006 and final payment of Plaza Garage expenses in 2007.