HomeMy WebLinkAboutAuthorizing the temporary transfer of idle r'
RESOLUTION
353-73
Passed by the Common Council of the City of South Bend, Indiana,
MARCH 120 1973
Attest: j," K City Clerk
Attest: P resident of Common Council.
Presented by me to the Mayor of the City of South Bend, Indiana
MARCH 13, 19 73
4:: , K �t•_,_�v,, �, City Clerk
Approved and signed by me �—y� a ,� / S 19 123
Mayor
M
4
RESOLUTION NO. %.3 S 3- '23
A RESOLUTION AUTHORIZING THE TEMPORARY
TRANSFER OF IDLE FUNDS TO THE CORPORATION
GENERAL, PARK MAINTENANCE, POLICE PENSION,
AND MOTOR VEHICLE HIGHWAY FUNDS OF THE
CIVIL CITY OF SOUTH BEND, FROM THE
CUMULATIVE SEWER BUILDING AND SINKING,
CUMULATIVE CAPITAL IMPROVEMENT, LOCAL
ROADS AND STREETS, FIREMEN'S PENSION,
AND SEWAGE WORKS CONSTRUCTION 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, and Motor Vehicle Highway Funds,
prior to the receipt of taxes in the year 1973, in order to meet the
current running expenses of the City, provided for in the budget and appro-
priations adopted for the year 1973, which expenses must be met prior to
the receipt of taxes in the year 1973, and
WHEREAS, there are money on deposit to the credit of various
funds of the City, to-wit: Cumulative Sewer Building and Sinking, Capital
Improvement, Local Raods and Streets, Firemen's Pension and Sewage Works
Construction Funds, which can be temporarily advanced or transferred to
such Corporation General, Park Maintenance, Police Pension, and Motor
Vehicle Highway Funds, 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
funds from any other such fund, such amount and for such period of time
as may be prescribed in the Resolution,
NOW, THEREFORE, BE IT RESOLVED 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 $2,250,000.00
to the Corporation General, Park Maintenance, Police Pension, and Motor
Vehicle Highway Funds of the City of South Bend, from various funds of the
of the City, to-wit: Cumulative Sewer Building and Sinking, Cumulative
Capital Improvement, Local Roads and Streets, Firemen's Pension, and Sewage
Works Construction Funds. The aggregate amount of $2,250,000.00 to be
distributed so as not to exceed the maximum amount set forth below:
FROM: MAXIMUM TO: MAXIMUM
Cumulative Sewer Building
& Sinking Fund $1,000,000.00 Corporation General $1,250,000.00
Cumulative Capital Park Maintenance Fund 500,000.00
Improvement Fund 125,000.00
Local Roads and Streets Police Pension Fund 250,000.00
Fund 250,000.00
Firemen's Pension Fund 125,000.00 Motor Vehicle Highway
Fund 250,000.00
Sewage Works Construction
Fund 750,000.00
$2,250,000.00 $2,250 ,000.00
SECTION II. Such transfer shall be made for a period not to
extend beyond December, 31, 1973, and such funds so transferred shall be
returned and repaid to the original fund from which it was transferred.
FILED IN CLERK'S OFFICE
Me the Common Council
PRESENTED 3- /a- -7 3
NOT, APPROVED MAR 7 1973
ADOPTED 3 1ene Gammon
Cj" CLERK, 500TH BEND, !n0.