HomeMy WebLinkAboutNo. 1857 appropriating monies for purpose of defraying expenses of certain local public improvements for fiscal year beginning 1/1/02 ending 12/31/02 including all outstanding claims/obligations40 . 1%
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RESOLUTION NO. 1857
A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION APPROPRIATING
MONIES FOR THE PURPOSE OF DEFRAYING THE EXPENSES OF CERTAIN LOCAL
PUBLIC IMPROVEMENTS FOR THE FISCAL YEAR BEGINNING JANUARY 1, 2002,
AND ENDING DECEMBER 31, 2002, INCLUDING ALL OUTSTANDING CLAIMS
AND OBLIGATIONS, FIXING A TIME WHEN THE SAME SHALL TAKE EFFECT
Whereas, the South Bend Redevelopment Commission is the lessee of certain local
public improvements which, during calendar year 2002, realize revenues and incur expenses in
connection with the operation and maintenance of the same; and
Whereas, the South Bend Redevelopment Commission has determined that it is
necessary to appropriate the revenues of certain public improvements in order to defray the expenses of
those local public improvements.
NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH BEND REDEVELOPMENT
COMMISSION AS FOLLOWS:
1. For the expenses of the Blackthorn Golf Course, for the fiscal year 2002, the sums of
money, as set forth in the budget which is made a part hereof, are hereby appropriated and ordered set
apart out of the funds hereinafter named, and for the purposes hereinafter specified, subject to the laws
governing the same. The sums herein appropriated shall be deemed to include all expenditures
authorized to be made in said year, unless otherwise expressly stipulated or provided by law.
2. For the fiscal year ending December 31, 2002, the above referenced appropriations are
made within the Blackthorn Golf Course Fund.
This resolution shall be in full force and effect from and after its adoption.
Adopted at the regular meeting of the South Bend Redevelopment Commission held
Wednesday, January 2nd, 2000, at 10:00 a.m., 1308 County -City Building, 227 West Jefferson Boulevard,
South Bend, Indiana 46601.
ATTEST:
Philip J. Fac nda, Secretary
H:\ WPDATA \DPERKINS \WPDATA\Resolutions\Res 1857.wpd
SOUTH ND REDEVELOPMENT COMMISSION
Robert W. Hunt, President
2002 BLACKTHORN GOLF COURSE BUDGET
PROJECTED CASH BALANCE 1/1/02
OPERATING REVENUE
Green Fees
Golf Carts
Membership
Driving Range
Other Golf
Instruction
Merchandise
Food and Beverage
803,654
301,617
14,850
50,220
4,464
40,300
175,142
243,114
TOTAL REVENUE 1,633,361
LESS: COST OF SALES
Instruction 31,031
Pro Shop 119,097
Food & Beverage 82,659
TOTAL COST OF SALES 232,787
TOTAL OPERATING REVENUE
LESS COST OF SALES 1,400,574
OPERATING EXPENSES
Pro Shop
(274,100)
Course Maintenance
(454,122)
Food & Beverage
(53,247)
Administration
228 053
TOTAL OPERATING EXPENSES
(1,009,522)
OPERATING INCOME
TOTAL
DEBT SERVICE
February 2002 (264,000)
August 2002 (288,500)
TOTAL DEBT SERVICE
NET OPERATING INCOME
Publish: Friday, December 21, 2001
$208,706
391,052
599,758
55( 2,500)
$47,258