HomeMy WebLinkAboutAuthorizing the temporary transfer of idle funds of the City of South BendRESOLUTION
NO. 548 -77
Passed by the Common Council of the City of South Bend, Indiana,
January 24 19 77
Attest: / ► .
ity Clerk
Attest: Y / l/A `/ 1 ,4-7 �//F(_ /President of Common Council.
Presented by me to the Mayor of the City of South Bend, Indian
January 25 19 77.
Approved and signed by me Q, "Z� __" T S 19Q
City Clerk
Mayor
RESOLUTION NO. ,5ZS- 2
A RESOLUTION AUTHORIZING THE TEMPORARY TRANSFER
OF IDLE FUNDS OF THE CITY OF SOUTH BEND, INDIANA
FROM THE CUMULATIVE SEWER BUILDING AND SINKING,
CUMULATIVE CAPITAL IMPROVEMENT, LOCAL ROADS AND
STREETS, FEDERAL ASSISTANCE GRANT FUNDS AND
WASTEWATER GENERAL FUND, TO THE CORPORATION
GENERAL, PARK MAINTENANCE, POLICE PENSION, FIRE
PENSION, REDEVELOPMENT, HUMAN RELATIONS AND
FAIR EMPLOYMENT PRACTICES COMMISSION FUNDS, 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, Redevelopment, Human Relations and Fair Employment
Practices Commission Funds prior to the receipts of taxes in the
year 1977, in order to meet the current operating expenses of
the City, provided for in the budget and appropriation adopted
for the year 1977, which expenses must be met prior the the receipt
of taxes in the year 1977, and
WHEREAS, there are monies on deposit to the credit of
various funds of the City, to -wit: Cumulative Sewer Building
and Sinking, Cumulative Capital Improvement, Local Roads and
Streets and Federal Assistance Grant Funds which can be tempor-
arily advanced or transferred to the various funds already
mentioned, and
WHEREAS, Chapter 71 of the Acts of 1961 of the Indiana
General Assembly authorized 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:
SEC_TI_ON I. That the City Controller of the City of
South Bend is authorized to transfer an aggregate amount not to
exceed $3,000,000.00 to various funds from various other funds
as listed below. The aggregate amount of $3,000,000.00 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, 1977:
From: Maximum To: Maximum
Cumulative Sewer
Building and Sinking
Fund............ $750,000.00 Corporate General ...... $1,825,000.00
Local Roads and Park Maintenance Fund.. 500,000.00
Street Fund..... 500,000.00
Police Pension Fund.... 250,000.00
Federal Assistance
Grant Fund...... 750,000.00 Fireman Pension Fund... 250,000.00
Wastewater Gen- Cumulative Capital
eral Fund ...... 1,000.000.00 Improvement Fund....... 150,000.00
$3,000,000.00 Human Relations and
Fair Practices
Commission Fund........ 25,000.00
$3,000,000.00
SECTION II. Such transfer shall be made for a period
of time not to extend beyond December 31, 1977, 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 I — a Y 7
NOT APPROVED
ADOPTED j - a `/' -2 7
Member �Jof the Common Counci
y O, r _ „vU! 3iOn
and Cctr. _ c_i c__2 issue-,
FILED IN CLERK'S OFFICE
., e ,r77
Irene Gammon
CITY CLERK, SOUTH BEND, IND.