HomeMy WebLinkAboutNo. 1478 determining to appropriate monies for purpose of defraying expenses of certain local public improvements for fiscal year beginning 1/1/97 ending 12/31/97 including all outstanding claims/obligations, fixing a time when the same shall take effectI I
RESOLUTION NO. 1478
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 I, 1997 AND ENDING DECEMBER 31, 1997 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 1997, 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 1997, 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, 1997, the above referenced appropriations
are made within the Blackthorn Golf Course Fund.
3. A hearing on the appropriation of funds as herein described is set for Friday,
December 20, 1996 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,
December 6, 1996 at 10:00 a.m., 1308 County -City Building, 227 West Jefferson Boulevard, South
Bend, Indiana 46601.
SOU BEND REDEVELOP14ENT COMMISSION
Paula /V. Auburn, President
ATTEST:
William P. Hojnac " ecretary
South Bend Redevelopment Commission - Resolution No. 1479
1997 Blackthorn Goff Course Budget
INCOME
Green Fees 975,591
Other Pro Shop (Range, Equip Rental) 73,238
Golf Carts 295,415
Pro Shop Concession (Net Income) 69,568
Food & Beverage Concession (Net Income) 148,491
TOTAL INCOME 1,562,303
Pro Shop
269,136
Golf Carts
82,684
Restaurant
67,161
Course Maintenance
519,043
Administration
198,664
TOTAL EXPENSES
1,136,688
OPERATING INCOME 425,615
DEBT SERVICE
February 1997 180,500
August 1997 180,500
TOTAL DEBT SERVICE 361,000
NET OPERATING INCOME 64,615