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0~~~~U1'xT ~~~~ <br />=.' <br />,W, ~. <br />NF:ACF <br />1365 ,,-,, <br />County-City Building Phone: 574.235.9216 <br />227 W. Jefferson Blvd. 12t~' Floor Fax: 574.235.9928 <br />South Bend, IN 46601-1830 TDD: 574.235.5567 <br />City of South Bend Stephen J. Luecke, Mayor <br />Department of Adminstration and Finance <br />M. Catherine Fanello, Controller <br />Derek Dieter, President <br />South Bend Common Council <br />County-City Building <br />227 W. Jefferson Blvd. 4~h Floor <br />South Bend, IN 46601-1830 <br />Re: Ordinance borrowing funds from other city funds <br />Dear President Dieter: <br />Since the 2009 tax bills have not been sent out by St. Joseph County, it is necessary to transfer <br />monies by June 30, 2009 from various city funds to the depleted property tax funds in order to <br />meet operational expenses. All funds will be paid back once property taxes are received and <br />must be paid back by December 31, 2009. However, should this borrowing extend into 2010 <br />because 2009 property taxes are not received, another ordinance will need to be filed declaring <br />an emergency in order to extend the borrowing past 2009. <br />I will present this ordinance at the regularly scheduled Personnel & Finance Committee meeting. <br />Thank you for your consideration in this matter. <br />Sincerely, <br />M. Catherine Fanello, CPA <br />Controller <br />cc: Common Council Members <br />Mayor Stephen Luecke <br />