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C.OUNTY-CITY BUILDING <br />227 W JEFFERSON BLVD. <br />SOUTH BEND, INDIANA 46601-1830 <br />CITY OF SOUTH BEND STEPHEN J. LUECKE, MAYOR <br />PIIONE574/235-9216 <br />Fax 574/235-9928 <br />TDD 574/ 235-5567 <br />DEPARTMENT OF ADMINISTRATION AND FINANCE <br />M. CATHERINE FANELLO <br />CONTROLLER <br />December 16, 2008 <br />Mr. Timothy Rouse <br />President, South Bend Common Council <br />4`h Floor, County-City Building <br />South Bend, IN 46601 <br />Re: Resolution Loaning Monies from Various Funds to Other Funds to Pay <br />Off Temporary Tax Anticipation Time Warrants <br />Dear President Rouse: <br />Attached for filing with the Common Council is a Resolution along with two related <br />Resolutions which address the unusual current financial circumstances of the City. These <br />circumstances were caused by non-receipt as yet of City property tax revenues levied in 2007, <br />payable in 2008. <br />The captioned Resolution temporarily loans Five Million Dollars ($5,000,000.00) from <br />the Health Insurance Fund (No. 711), Two Million Six Hundred Eighty-One Dollars <br />($2,b81,000.00) from the Liability Self Insurance Fund (No. 226) and One Million Two Hundred <br />Thousand Dollars ($1,200,000.00) from the Rainy Day Fund (No. 102) to repay the Tax <br />Anticipation Time Warrants due December 30, 2008 under Ordinance 9846-08 from General <br />Fund (No. 101), Parks and Recreation Fund (No. 201) and Hall of Fame Bond Fund (No. 313). <br />These temporary loans in the aggregate total Eight Million Eight Hundred Fifty-One Thousand <br />Dollars ($8,851,000). <br />I will present this and the related Resolutions to the Council at its special meeting <br />scheduled for December 29, 2008. Thank you for considering this Resolution, and special <br />thanks to the Council for making time to schedule this meeting during the holiday season. <br />~i1~~ lti G1~CR'S (~fifiCe <br />DEC 1 6 2008 <br />,iQ;1N YaAR:3E <br />Cti'Y GL%~tK, 5A. BEhD, fN. <br />Sincerely, <br />{ <br />~~ <br />M. Catherine Fanello <br />Controller <br />JANICE L. HALL JOHN MuRrHY RosERTAuEN <br />DIRECTOR 1~SSISTANr CONTROLLER DIRECTOR <br />HUMAN RESOURCES INFORIvIa.TIONTECxNOLOGY <br />