HomeMy WebLinkAboutAppropriating $321,187 Among Various Accounts Department of Economic Development ORDINANCE No. 8149-90
Passed by the Common Council of the City of South Bend, Indiana
November 26, Iq 90
Attest: City Clerk
IRENE K. GAMMON
Attest: L.AIA■. 2 .s/2 President of Common Council
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Presented by me to the Mayor of the City of South Bend, Indiana—
November 27, 90
19
City Clerk
ty
IRENE K. GAMMON
Approved and signed by me December 3 Ig 90
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grit -• _ - � � . ayor
BILL NO. q ' /� r1
ORDINANCE NO. p `7 '1 - V
AN ORDINANCE APPROPRIATING $321,187.00
AMONG VARIOUS ACCOUNTS WITHIN THE
DEPARTMENT OF ECONOMIC DEVELOPMENT
STATEMENT OF PURPOSE AND INTENT:
In order to assure the efficient and timely utilization of Urban
Development Action Grant Reimbursement Funds and that the immediate
needs of specific activities are met, appropriations to accounts are
necessary.
NOW, THEREFORE, BE IT ORDAINED by the Common Council of the City
of South Bend, Indiana, as follows:
SECTION I. The sum of $321,187.00 is hereby appropriated to
accounts as set forth below.
Project No. Description Amount
UR91-001 BDC Portfolio Buy-out $321,187
TOTAL $321,187
SECTION II. This ordinance shall be in full force and effect
from and after its passage by the Common Council and approval by the
Mayor.
/' Z( '
Member of the wv An •
Filed in Clerk's Office
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ml\ordudagrant
CITY C ERK,SO.BEND,IN.
1st READING l /-
PUBLIC HEARING l(-Q(a-GO
3 rd READING I►_
SouTN 8\�����
i�►� \ City of South Bend
�� Joseph E. Kernan,Mayor
Department of Economic Development
Jon R. Hunt Ann E. Kolata
Executive Director Deputy Executive Director
November 5, 1990
South Bend Common Council
Fourth Floor Council Chambers
400 County-City Building
South Bend, IN 46601
Dear Council Member:
The attached bill for your consideration and approval will
appropriate $321, 187 of Urban Development Action Grant
Reimbursement Funds for the Buy-out of a portion of the BDC loan
portfolio. The buy-out will result in additional CDBG program
income which has been used in calculating the 1991 Program Year
CDBG allocations.
If you have any questions regarding this bill, please call me.
Sincerely,
/ 44111 61
liz. •eth Leo. .
Direc or
Financial and Progr:m Management
cc: Jon Hunt
Marcia Townsend
John March
1200 County-City Building • South Bend, Indiana 46601 • 219/284-9371 Fax 219/284-9892
Redevelopment Economic Development Housing Rehabilitation Financial & Program Human Rights
Ann Kolata & Business Assistance Kathryn Baumgartner Management Cynthia Love-Bush
284-9371 Donald Inks 521 Eclipse Place Elizabeth Leonard 284-9355
284-9335 284-9475 284-9335