HomeMy WebLinkAboutAuthorizing the temporary transfer of idle funds of the City of South Bend from the cumulative sewer building and sinking fund to the corporation general fund, all funds being within the civil City of South BendRESOLUTION
N0. 761 -80
Passed by the Common Council of the City of South Bend,
February 25,
�7
Presented by me to the Mayor of the City of South Bend,
Approved and signed by
Februa
City Clerk
President of Common Council
26, rq 80
-`ems
City Clerk
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RESOLUTION NO. 7(o /
A RESOLUTION AUTHORIZING THE TEMPORARY TRANSFER OF
IDLE FUNDS OF THE CITY OF SOUTH BEND, INDIANA, FROM
THE CUMULATIVE SEWER BUILDING AND SINKING FUND,
FEDERAL ASSISTANCE GRANT FUND, WASTEWATER DEPRECIATION
FUND, WATER WORKS DEPRECIATION FUND AND WASTEWATER
GENERAL FUND, AND WASTEWATER CONSTRUCTION FUND, TO
THE CORPORATION GENERAL, PARK MAINTENANCE, POLICE
PENSION, FIRE PENSION AND HUMAN RELATIONS AND FAIR
EMPLOYMENT PRACTICES COMMISSION FUNDS AND CENTURY
CENTER OPERATIONS FUND, ALL FUNDS BEING WITHIN THE
CIVIL CITY OF SOUTH BEND, INDIANA.
WHEREAS, a necessity exists to provide funds for the Corporation
General, Park Maintenance, Police Pension, Firemen Pension, Human Relations
and Fair Employment Practices Commission and Century Center Operations Fund
prior to the receipts of taxes in the year 1980 in order to meet the current
operating expenses of the City, provided for in the budget and appropriation
adopted for the year 1980 which expenses must be met prior to the receipts
of taxes and other revenues in the year 1980 and
WHEREAS, there are monies on deposit to the credit of various funds
of the City, to wit: Cumulative Sewer Building and Sinking, and Federal
Assistance Grant, Wastewater General, Wastewater Depreciation, Water Works
Depreciation Funds and Wastewater Construction Fund which can be temporarily
advanced or transferred to the various funds already mentioned, and
WHEREAS, Indiana Code 19- 11 -2 -1 and 19- 11 -2 -2 authorize the Common
Council of the Civil City of South Bend, by Resolution adopted by such
Council, to advance and transfer to a depleted fund from any other such
fund, such amount and for such period of time as may be prescribed in the
Resolution,
NOW, THEREFORE, BE IT ORDAINED BY THE COMMON COUNCIL OF THE CITY
OF SOUTH BEND, INDIANA:
SECTION I. That the City Controller of the City of South Bend is
authorized to transfer an aggregate amount not to exceed $4,650,000.00 to
various funds from various other funds as listed below. The aggregate
amount of $4,650,000.00 to be distributed so as not to exceed at any one
time the maximum amounts as set forth below. Any such transfers made must
be repaid by December 31, 1980.
FROM: MAXIMUM
TO: MAXIMUM
Cumulative
Sewer
Corporate General
$3,680,000.00
Building &
Sinking Fund
$1,000,000.00
Park Maintenance
500,000.00
Federal Assistance
Grant
750,000.00
Police Pension Fund
200,000.00
Fund
Firemen Pension Fund
200,000.00
Wastewater
General Fund
500,000.00
Human Relations & Fair
Practices Comm. Fund
20,000.00
Wastewater
Depreciation
Fund
750,000.00
Wastewater
Construction
Century Center Operations
50,000.00
Fund
950,000.00
Fund
Water Works
Depreciation
Fund
700,000.00
$4,650.000.00
$4,650,000.00
SECTION II. Such transfer shall be made for a period of time not
to extend beyond December 31, 1980, and such funds so transferred shall be
returned and repaid to the original funds from which they were transferred.
SECTION III. This Resolution shall be in full force and effect
from and after its adoption by the Common Council and its approval by the
Mayor.
PRESENTED ?- aS = ed
NOT APPROVED
ADOPTED
r'
L
Member of the Common Council
«ZDf, �1T5 OFFICE
FEB 20 mo
Irene Gammon
CITY CLERK, SOUTH BEND, IND.
Joseph E. Kernan
Director, Administration and
Finance
CITY of SOUTH BEND
ROGER O. PARENT, Mayor
COUNTY -CITY BUILDING SOUTH BEND, INDIANA 46601
February 20, 1980
Members of the Council
4th Floor
County -City Building
South Bend, IN 46601
Dear Members of the Council:
This resolution provides for temporary transfer of
idle funds between different funds within the City
of South Bend. These transfers, which must be
reconciled by December 31, 1980, actually permit
individual City funds to stay out of the red for
operating purposes.
219/284 -9742
This resolution must be passed by the Common Council
in order to permit the Controller's office to handle
such transfers. In that the resolution is only effective
until December 31, 1980, this resolution is made in the
early part of every calendar year.
If you have any questions on this matter, please contact
this office at any time. I respectfully request your
favorable consideration of this resolution.
Sincerely,
ce
Joseph E. Kernan
City Controller
JEK:des