HomeMy WebLinkAboutNo. 1945 determining to appropriate monies for purpose of defraying expenses of certain local public improvements for the fiscal year beginning 1/1/2003 ending 12/31/2003 including all outstanding claims/obligationsRESOLUTION NO. 1945
A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION DETERMINING
TO APPROPRIATE MONIES FOR THE PURPOSE OF DEFRAYING THE EXPENSES OF
CERTAIN LOCAL PUBLIC IMPROVEMENTS FOR THE FISCAL YEAR BEGINNING
JANUARY 1, 2003 AND ENDING DECEMBER 31, 2003 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 calender year 2003, 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 and its various divisions, for the fiscal year 2003, 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, 2003, the above referenced appropriations are made within the
IL Blackthorn Golf Course Fund.
3.A hearing on the appropriation of funds as herein described is set for Friday, February 7, 2003 at 10:00
a.m., 1308 County -City Building, 227 West Jefferson Boulevard, South Bend, Indiana 46601.
4.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 Friday, February 7,
2003 at 10:00 a.m., 1308 County-City Building, 227 West Jefferson Boulevard, South Bend, Indiana
46601.
ATTEST:
14
SOUTH BEND REDEVELOPMENT COMMISSION
Marcia Jones, Vice President
I
0
14
46�1
2003 BLACKTHORN GOLF COURSE BUDGET
OPERATING REVENUE
Green Fees
713,764
Golf Carts
304,308
Membership
40,900
Driving Range
47,880
Other Golf
12,506
Instruction
40,300
Merchandise
193,582
Food and Beverage
237,139
Operating Transfer From AEDA TIF
300,000
TOTAL REVENUE 1,890,379
LESS: COST OF SALES
Instruction
31,031
Pro Shop
131,635
Food & Beverage
80,627
TOTAL COST OF SALES
243,294
TOTAL OPERATING REVENUE
LESS COST OF SALES 1,647,085
OPERATING EXPENSES
Pro Shop
(330,854)
Course Maintenance
(463,142)
Food & Beverage
(50,874)
Administration
213 019
TOTAL OPERATING EXPENSES
(1,057,888)
OPERATING INCOME
DEBT SERVICE
February 2003 (288,500)
August 2003 314 000
TOTAL DEBT SERVICE
Publish: January 7, 2003
589,197
(602,500)