HomeMy WebLinkAboutAuthorizing the Controller of the City of South Bend to invest certain idle funds during the year 1974 RESOLUTION
No. 407-74
Passed by the Common Council of the City of South Bend, Indiana,
JANUARY 14 , X974
Attest: / '• City Clerk
Attest: President of Common Council.
Presented by me to the Mayor of the City of South Bend, Indiana
JANUARY 15, 19 74
q, /-�— City Clerk
Approved and signed by me 19�
Mayor
RESOLUTION NO. -410
A RESLOUTION AUTHORIZING THE CONTROLLER OF THE
CITY OF SOUTH BEND, INDIANA TO INVEST CERTAIN
IDLE FUNDS DURING THE YEAR 1974 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 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 calender year 1974, 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 the Civil City.
SECTION II. This Resloution shall be in full force and effect
from and after its passage by the Common Council and its approval by the Mayor.
Member of the Common Council
FILED IN CLERIC'S OFFICE
PRESENTED / - / 44- 7 y 1974
NOT APPROVED
ADOPTED / - J A-/- -7 Irene Gammon
CITY CLERK. SOUTH BEND,. IND.
.J
CITY OF SOUTH B E N D Reply To:
South Bend, Indiana 46601
Jerry J. Miller
Mayor
James V. Barcome
Director, Administration and Finance
TO: Members of the Common Council
FROM: James V. Barcome
DATED: January 8, 1974
SUBJECT: Resolution for investment of idle funds
As we had stated last year in seeking a similar resolution, from time
to time the City has available each year certain funds which are
lying idle. This does not mean that the funds will not be spent or
that there are no commitments against them. It is just that time
schedules, especially in construction projects , sometimes allow us
to invest these funds .
Therefore, we are seeking Council authority to be given to the City
Controller to make investments for the year 1974. The City Controller,
of course, is required to make any such investments in compliance with
the Depository Act and other State Statutes.
We hope that this resolution with yo r satisfaction.
J es V. arcome, Controller
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