Approprating $500,000 From the city of South Bend General Fund for the College Football Hall of Fame operating fund

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ORDINANCE N0. g7101O~~ AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY OF' SOUTH BEND, INDIANA, APPROPRIATING $500,000 FROM THE CITY OF SOUTH BEND GENERAL FUND TO THE COLLEGE FOOTBALL HALL OF FAME OPERATING FUND STATEMENT OF PURPOSE AND INTENT The Common Council of the City of South Bend, Indiana, has determined that it is in the best interest of the City of South Bend that it appropriate the sum of $500,000 from the City of South Bend General Fund to the College Football Hall of Fame Operating Fund in order to fund activities to market and promote the College Football Hall of Fame. On August 26, 1996, under Ordinance No. 8711-96, a similar sum of $500,000 was appropriated as part of a capital infusion plan to help ensure the long-term success of the Hall. In addition, the National Football Foundation and College Football Hall of Fame, Inc., has also contributed $500,000 and will also deliver a similar amount in 1997 towards this common plan. It is contemplated that over time this appropriation from the City General Fund will be replenished from excess revenues of the College Football Hall of Fame. NOW, THEREFORE, BE IT ORDAINED BY THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, AS FOLLOWS: SECTION I. The following sum is hereby appropriated and ordered set apart from and within the indicated funds of the City of South Bend: ACCOUNT N0. DESCRIPTION AMOUNT 101.0401.415.50.02 General Fund $500,000 SECTION II. This ordinance shall be in full force and effect from and after its passage by the Common Council and approval by the Mayor. ~~ Member, South Bend C mmon Council 1st FEADING ~'~ FULIC HE~,RIN -~ -~ f:Oi ,~.°?ROVED F;='~ .RED Fiied in ~i~~~a'~ ~~~i~~ FED 1 ~~ i997 ICR::'iTsZ J. DUDA CITY CLERrt, .`sU. E~Fl9, tV.