HomeMy WebLinkAboutAuthorizing the temporary transfer of idle funds to the General Fund RESOLUTION
NO. 339-72
Passed by the Common Council of the City of South Bend, Indiana,
OCTOBER 23 19 72
Attest: 7� �Q City Clerk
Attest: President of Common Council.
Presented by me to the Mayor of the City of South Bend, Indiana
OCTOBER 24 19
City Clerk
Approved and signed by me OCTOBER 25 19 72
Mayor
RESOLUTION NO. 339-72
A RESOLUTION AUTHORIZING THE TEMPORARY TRANSFER
OF IDLE FUNDS TO THE GENERAL FUND, PARK MAIN-
TENANCE FUND AND THE POLICE PENSION FUND OF THE
CIVIL CITY OF SOUTH BEND.
WHEREAS, a necessity exists to provide funds for the General Fund,
the Park Maintenance Fund, and the Police Pension Fund of the
City of South Bend, prior to the receipt of taxes in the year
1972, in order to meet the current running expenses of the City,
provided for in the budget and appropriations adopted for the
year 1972, which expenses must be met prior to the receipt of
taxes in the year 1972 , and
WHEREAS , there are monies on deposit to the credit of various
funds of the City, to-wit: Track Elevation Fund, Cumulative
Sewer Building and Sinking Fund, and Sewage Works Improvement
Fund, which can be temporarily advanced or transferred to such
General Fund, Park Maintenance Fund, and Police Pension Fund, 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 Common 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 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
$1, 400, 000 . 00 to the General Fund, Park Maintenance Fund, and
Police Pension Fund of the City of South Bend from various
funds of the City, to-wit: The Track Elevation Fund, Cumulative
Sewer Building and Sinking Fund, and Sewage Works Improvement Fund
The aggregate amount of $1, 400, 000.00 to be distributed so as not
to exceed the maximum amounts set forth below:
FROM: MAXIMUM TO: MAXIMUM
Track Elevation Fund $75, 000 Police Pension Fund $ 50 , 000
Park Maintenance Fund 25 , 000
Sewage Works Im-
provement Fund $100, 000 Police Pension Fund 100, 000
Cumulative Sewer
Building and Park Maintenance Fund 225 , 000
Sinking Fund $1, 225 , 000 General Fund 11000, 000
$1,400 , 000 $1, 400, 000
SECTION II . Such transfer shall be made for a period not to
extend beyond December 31, 1972, and such funds so transferred
shall be returned and repaid to the original fund from which it
was transferred.
/s/ Roger O. Parent
Member of the Common Council
Passed 10-23-72 - As Amended
RESOLUTION NO .
A RESOLUTION AUTHORIZING THE TEMPORARY TRANSFER OF
IDLE FUNDS TO THE GENERAL FUND, PARK MAINTENANCE
FUND, AND THE POLICE PENSION FUND OF THE CIVIL CITY
OF SOUTH BEND.
WHEREAS, a necessity exists to provide funds for the
General Fund, the Park Maintenance Fund, and the Police Pension
Fund of the City of South Bend, prior to the receipt of taxes in
the year 1972, in order to meet the current running expenses of
the City , provided for in the budget and appropriations adopted
for the year 1972 , which expenses must be met prior to the
receipt of taxes in the year 1972 , and
WHEREAS , there are monies on deposit to the credit of
various funds of the City , to wit : Track Elevation Fund, Cumu-
lative Sewer Building and Sinking Fund, Water Works Depreciation
Fund, Main Extension Fund, Sewage Works Depreciation Fund and
Sewage Works Improvement Fund, which can be temporarily advanced
or transferred to such General Fund, Park Maintenance Fund, and
Police Pension Fund, and
WHEREAS , Chapter 71 of the Acts of 1961 of the Indiana
General Assembly authorizes the Common Council of the Civil City
of South Bend by Resolution adopted by such Common 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 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
$1,400 ,00 .00 to the General Fund, Park Maintenance Fund, and
Police Pension Fund of the City of South Bend from various funds
of the City, to wit : The Track Elevation Fund, Cumulative Sewer
Building and Sinking Fund, Water Works Depreciation Fund, Main
Extension Fund, Sewage Works Depreciation Fund and Sewage Works
Improvement Fund. The aggregate amount of $1 ,400 ,000 .00 to be
distributed so as not to exceed the maximum amounts set forth
below:
General Fund -----------------------$1 ,000 ,000 .00
Park Maintenance Fund---------------$ 250 ,000 .00
Police Pension Fund ----------------$ 150 ,000 . 00
$1,400 ,000 .00
SECTION II . Such transfer shall be made for a period not
to extend beyond December 31 , 1972, and such funds so transferred
shall be returned and repaid to the original fund from which it
was transferred.
FILED IN CLERK'S OFFICE
Irene Gammon
CITY CLERK, SOUTH BEND, GiD
1st & 2nd READING ' C. 3 7 Z !Me r e Common Council
COMMITTEE OF THE WHOLE
�UBUC HEARING
30 READING OCT 2 0 1972
NOT APPROVED
DEFERRED
PASSED