HomeMy WebLinkAboutNo. 1555 determining to appropriate monies for purpose of defraying expenses of certain local public improvements for fiscal year beginning 1/1/98 ending 12/31/98 including all outstanding claims/obligations, fixing a time when the same shall take effectN
RESOLUTION NO. 1555
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, 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
to 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 Black-thorn Golf Course Fund.
3. A hearing on the appropriation of funds as herein described is set for Friday,
December 19, 1997 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,
November 21, 1997 at 10:00 a.m., 1308 County -City Building, 227 West Jefferson Boulevard, South
Bend, Indiana 46601.
7'Ll'. � l
Paula lV. Aubum, Secretary
1�9
SOU EDEVELOP NT COMMISSION
Robert W. Hunt, President
South Bend Redevelopment Commission - Resolution No. 1555
V1998 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
Cl OTAL EXPENSES 1,056,929
OPERATING INCOME 391,754
DEBT SERVICE
February 1998
180,500
August 1998
200,500
TOTAL DEBT SERVICE
381,000
NET OPERATING INCOME
10,754