HomeMy WebLinkAbout9485-04 Changing the Title and purpose of Fund number 305, 315, and 328 within the Budget of the Civil CityORDINANCE No.
9485-04
Passed by the Common Council of the Ciry of Soutli Bend, Indiana
January 26, 2004
Attest:
Attest:
Presented by me to the Mayor of the Ciry of Soutli Bend, Indiana
January 27, 04
ZO _
JOHN
Ciry Clerk
esident of Common Council
City Clerk
Approved and signed by me .Tan„AT3, ~A _ __ 20 ~,_
'L`"' / / ~~~ `~ Mayer
ORDINANCE NO. ~~ ~ ~~Q~
AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND,
INDIANA, CHANGING THE TITLE AND PURPOSE OF FUND NUMBERS 305, 315
AND 328 WITHIN THE BUDGET OF THE CIVIL CITY OF SOUTH BEND, INDIANA
STATEMENT OF PURPOSE AND INTENT
The City of South Bend heretofore established certain bond proceed and debt service reserve
funds within the Budget of the City of South Bend known as Fund 305 -Redevelopment Bond -
1998/1992 TIF SBCDA; Fund 315 -Redevelopment Bond Airport Taxable; and Fund 328 -
RedevelopmentBond -Palais Royale. The bonds pertaining to these Funds have now been retired,
and the original purpose of the Funds has been satisfied. The City now wishes to re-assign these
fund numbers to recently issued bonds.
NOW, THEREFORE, BE IT ORDAINED by the Common Council of the City of South
Bend, Indiana as follows:
Section I. Fund Number 305 previously known as Redevelopment Bond - 1998/1992 TIF
SBCDA shall be known and identified hereafter as South Bend Central Development Area (SBCDA)
2003 Bond Proceeds.
Section II. Fund Number 315 previously known as Redevelopment Bond Airport Taxable
shall be known and identified hereafter as Redevelopment Bond -Airport 2003 Debt Reserve.
Section III. Fund Number 328 previously known as Redevelopment Bond -Palais Royale
shall be known and identified hereafter as South Bend Central Development Area (SBCDA) 2003
Debt Reserve.
Section IV. This Ordinance shall be in full force and effect from and after its adoption by
the Common Council and approval by the Mayor
1 st READING t-1 Z' - ° 1
PUBLIC HEARING 1-2-~-0"~,
3 rd READWG ~--Z„~-q~
NOT APPP.OVED
REFERRED
PASSED ~'Z-'I-0`~
u ~~
Member, South Bend Co mon Council
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TO THE COMMON COUNCIL OF THE CITY OF SOUTH BEND:
Your Committee of the Whole, to whom was referred:
BILL NO.
1-04 A BILL OF THE COMMON COUNCIL OF THE CITY OF SOUTH
BEND, INDIANA, CHANGING THE TITLE AND PURPOSE OF FUND
NUMBERS 305, 315 AND 328 WITHIN THE BUDGET OF THE CIVIL
CITY OF SOUTH BEND, INDIANA
Respectfully report that they have examined the matter and that in their opinion, this bill is
being recommended to the full Council with a favorable recommendation.
Sean Coleman
Chairman
1200 COUNTY-CI"TY BUIIDING
SOUTH BEND, INDIANA 46601-1830
PHONE 574/ 235-9371
FAx 574/235-9021
TDD 574/ 235-5567
CITY OF SOUTH BEND STEPHEN J. LUECKE, MAYOR
COMMUNITY $L ECONOMIC DEVELOPMENT
January 5, 2004
South Bend Common Council
400 County-City Building
South Bend, IN 46601
Dear Council Member:
The attached ordinance will change the names of several funds (305, 315, and 328) which used to
hold debt service reserve monies for retired bonds. These funds will now be used to
accommodate the new SBCDA bond proceeds and debt service reserves for both the SBCDA
2003 bonds and the 2003 Airport bond.
Either Don Inks or I will attend the Council's January 25`h meetings to present this ordinance:
Please contact Don, at 235-9339, or me, at 235-9330 if you have any questions.
Sincerely,
lizab'~ Leonard `"
Director
Financial & Program Management
cc: Don Inks
John March
S~~i~ 0 ~ 20~-~
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COMMUNITY DEVELOPMENT ECONOMIC DEVELOPMENT' FINANCIAL & PROGRAM ~,(~,n~(/
PAMELA C. MEYEA DONALD E. INKS MANAGEMENT ~y7~'/
574/235-9660 574/235-9371 ELIZABETH LEONARD C'}(•~
FAx: 574/235-9697 574/235-9371