RESOLUTION NO. / `+(o(o-S" 7
<br /> A RESOLUTION AUTHORIZING THE TEMPORARY TRANSFER OF IDLE FUNDS OF THE
<br /> CITY OF SOUTH BEND, INDIANA, FROM VARIOUS FUNDS TO THE VARIOUS FUNDS
<br /> WITHIN THE CIVIL CITY OF SOUTH BEND, INDIANA.
<br /> WHEREAS, it is necessary to provide funds for the Corporation General, Park
<br /> Maintenance, Police Pension and Fire Pension, and Century Center Board of Managers Ope-
<br /> rating funds prior to the receipt of taxes in the year 1987 in order to meet the current
<br /> operating expenses of the City, provided for in the budget adopted for the year 1987;
<br /> and
<br /> WHEREAS, there are monies on deposit to the credit of various funds of the City,
<br /> to wit: Cumulative Sewer Building and Sinking, Sewage Works Depreciation, Sewage Works
<br /> Operating, Sewage Works Insurance Fund, Water Works Operating, Sewers Repair, and Tax In-
<br /> cremental Financing Bond Proceeds which can be temporarily advanced or transferred to the
<br /> various funds already mentioned; and
<br /> WHEREAS, Indiana Code 36-1-8-4 authorizes the Common Council of the Civil City
<br /> of South Bend, by Resolution adopted by such Council, to advance and transfer to a depleted
<br /> fund from any other such fund, such amount and for such a period of time as may be pre-
<br /> scribed in the Resolution.
<br /> NOW, THEREFORE, BE IT RESOLVED BY THE COMMON COUNCIL OF THE CITY OF SOUTH BEND,
<br /> INDIANA:
<br /> SECTION I. That the City Controller of the City of South Bend is authorized
<br /> to transfer an aggregate amount not to exceed $4,000,000.00 to various funds from various
<br /> funds as listed below. The aggregate amount of $4,000,000.00 to be distributed so as not
<br /> to exceed at any one time the maximum amounts as set forth below. Any such transfers made
<br /> must be repaid by December 31, 1987.
<br /> FROM: MAXIMUM TO: MAXIMUM
<br /> Cumulative Sewer Building
<br /> & Sinking Fund $ 850,000.00 Corporation General $3,000,000.00
<br /> Sewage Works Depreciations
<br /> Fund 50,000.00 Police Pension Fund 200,000.00
<br /> Sewage Works Operating Fund 1,200,000.00
<br /> Sewage Works Insurance Fund 150,000,00
<br /> Water Works Operating Fund 750,000.00 Fire Pension 200,000.00
<br /> Sewer Repair Fund 100,000.00 Century Center 100,000.00
<br /> T.I.F. Bond Proceeds 900,000.00 Park Maintenance Fund 500,000.00
<br /> $4,000,000.00 $4,000,000.00
<br /> SECTION II. Such transfer shall be made for a period of time not to extend
<br /> beyond December 31, 1987 and such funds to be transferred shall be returned and repaid to
<br /> the original funds from which they were transferred.
<br /> SECTION III. This Resolution shall be in full force and effect from and after
<br /> its adoption by the Common Council and approval by the Mayor.
<br /> ember/.f the C mmon Co it
<br /> Filed In Clerk's Office
<br /> PRESENTEt 4)- 9- 8'2
<br /> NOT APPROVED FEB 4 198
<br /> ADOPTED 7_ 9 e 7 IRENE GAMMON
<br /> CITY CLERK, SO. BEND, IN.
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