HomeMy WebLinkAboutAuthorizing to invest certain idle funds during the year 1976RESOLUTION
NO. 502 -76
Passed by the Common Council of the City of South Bend, Indiana,
January 5
19 76
Attest: ^ . City Clerk
Attest: / A i;i`�/% //� //— // "W,,///�/ President of Common Council.
Presented by me to the Mayor of the City of South Bend. Indiana
January 6 19 76
City Clerk
Approved and signed by me 19 i
Mayor
RESOLUTION N0, .50 �L-7 6
A RESOLUTION AUTHORIZING THE CONTROLLER OF THE CITY
OF SOUTH BEND, INDIANA TO INVEST CERTAIN IDLE FUNDS
DURING THE YEAR 1976 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 1976, the Control-
ler 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 opera-
tions of the various Departments of the 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.
NOT APIP „ZQVE[)
ADOPTED I- S - ?G
- P_,Z2�
Member of the Comm Council
FILED IN CLERK'S OFFICE
DE-0 3 11975
Irene Gammon
CITY CLERK, SOUTH BEND, IND.
� � J
CITY OF SOUTH BEND
South Bend, Indiana 46601
Jerry J. Miller
Mayor
James V. Barcome
Director, Administration and Finance
Members of the Common Council
City of South Bend
4th Floor County -City Building
Dear Councilmen,
Reply To:
December 31, 1975
We are submitting (2) two Resolutions for your consideration at the
January 5, 1976 meeting. They are the Resolutions which authorize
the City Controller to transfer idle funds to protect the cash
position of the City and also, to invest other idle funds to gain full
use of the monies.
If there are any questions, feel free to contact us.
Very truly yours,
/-W�c o G-�-•-
Michael L. Vance
Chief Deputy Controller