HomeMy WebLinkAboutNo. 1557 appropriating monies for the purpose of defraying the expenses of certain local public improvements for the fiscal year beginning 1/1/98 ending 12/31/98 including all outstanding claims/obligations, fixing a time when the same shall take effectRESOLUTION NO. 1557
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 I, 1998
AND ENDING DECEMBER 31,1998 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 1998, 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:
I . For the expenses of the Blackthorn Golf Course and its various divisions, for the fiscal
year 1998, 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, 1998, 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 Friday,
December 19, 1997 at 10:00 a.m., 1308 County -City Building, 227 West Jefferson Boulevard, South
Bend, Indiana 46601.
SOU REDEVELOP ENT COMMISSION
Robett W. Hunt, President
ATT T:
1
Paula N. Aubum, Secretary
South -Bend Redevelopment C emission - Resolution No. 1557
1998 Blackthorn Golf Course Budget
INCOME
Green Fees 911,706
Golf Carts 241,312
Other 64,875
Merchandise (net income) 65,966
Food & Beverage (net income) 164,824
TOTAL INCOME 1,448,683
EXPENSES
Pro Shop 286,307
Course Maintenance 499,080
Food & Beverage 60,027
Administration 211,515
TOTAL EXPENSES
1,056,929
IP OPERATING INCOME
391,754
DEBT SERVICE
February 1998 180,500
August 1998 200,500
TOTAL DEBT SERVICE 381,000
NET OPERATING INCOME 10,754