HomeMy WebLinkAboutAuthorizing the Controller to invest certain idle funds during the year 1978 in accordance with Chapter 9 of the 1945 Acts of Gneral Assembly of the State of IndianaAttest:
RESOLUTION
NO. 600 -77
Passed by the Common Council of the City of South Bend, Indiana,
December 19 19 77
City Clerk
Attest: -_) ZW41VA U ,, / IZ( ZI ZI President of Common Council.
Presented by me to the Mayor of the City of South Bend, Indiana
December 20 19 77
M
City Clerk
Approved and signed by me 1� 4,&wjft,) A / 1 19=.
Mayor
RESOLUTION NO. (goo �' a
A RESOLUTION AUTHORIZING THE CONTROLLER OF THE
CITY OF SOUTH BEND, INDIANA TO INVEST CERTAIN
IDLE FUNDS DURING THE YEAR 1978 IN ACCORDANCE
WITH CHAPTER 9 OF THE 1945 ACTS OF THE GENERAL
ASSEMBLY OF THE STATE OF INDIANA, AS AMENDED.
WHEREAS, there are certain idle funds of the Civil City of
South Bend which may be invested for periods of time without
affecting the operations of the various departments of the City,
and;
WHEREAS, Chapter 9 of the 1945 Acts of the General Assembly
of the State of Indiana enable the Controller to invest such
idle funds with the approval of the Common Council.
NOW, THEREFORE, BE IT RESOLVED BY THE COMMON COUNCIL OF THE
CITY OF SOUTH BEND, INDIANA:
SECTION I. That during the calendar year 1978, the
Controller invest certain idle funds of the Civil City of South Bend
for such periods of time that he determines are not needed for the
normal operations of the various departments of Civil City.
SECTION II. This Resolution shall be in full force and
effect from and after its passage by the Common Council and its
approval by the Mayor.
PRESENTED
NOT APPROVED
4DOPTEi
Member of the Common Council
I signed only to provide an
opportunity for public discussion
and Council action on the issue.,
FILED IN CLERK'S OFFICE
0 F C 14 1977
Irene Gammon
: Ily CLERK SOUTH BEND, IND,
Peter H. Mullen
Director, Administration and
Finance
CITY of SOUTH BEND
PETER J. NEMETH, Mayor
COUNTY -CITY BUILDING SOUTH BEND, INDIANA 46601
219/284 -9742
Members of the Common Council
4th Floor Council Chambers
County City Building
South Bend, Indiana
Dear Council Members:
December 12, 1977
We are submitting a resolution for your consideration at
the December 19, 1977 Council Meeting. This resolution
authorizes my office to invest idle funds within the
community.
This resolution will give us the authority to earn the
highest possible interest rates available at the time of
investment, and said interest rates will be re- deposited
to the funds from which the investments were made.
Your approval of this resolution will be appreciated.