HomeMy WebLinkAboutAppropriating $80,000 Various accounts within the Department of Economic Development ORDINANCE No. 8099-90
Passed by the Common Council of the City of South Bend, Indiana
July 9, Yq 90
Attest: Cit y Clerk
IRENE K. GAMMON
l ,
Attest: �� �����G� President of Common Council
Presented by me to the Mayor of the City of South Bend, Indiana _
July 10, ig 90
City Clerk
IRENE K. GAMMON
Approved and signed by me July 19 ig 90
Mayor
•
BILL NO. i3
ORDINANCE NO.M`i!`-1 Q
AN ORDINANCE APPROPRIATING $80,000
TO VARIOUS ACCOUNTS WITHIN THE
DEPARTMENT OF ECONOMIC DEVELOPMENT
STATEMENT OF PURPOSE AND INTENT:
In order to assure the efficient and timely utilization of funds
reimbursed from the Studebaker Corridor Bond and that the immediate needs of
specific activities are met, certain appropriation is necessary.
NOW, THEREFORE, BE IT ORDAINED by the Common Council of the City of
South Bend, Indiana, as follows:
SECTION I. The sum of $80,000 is hereby appropriated to accounts as
set forth below.
Project No. Description Amount
UR90-002 Predevelopment Costs 80,000
TOTAL $80,000
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.
AP4, // -7/4 '
M r of the ■ .n Coun •
Filed in Clerk's Office
1st READING —
L JUN 2 0 I9 }
PUBLIC HEARING �' 9 O p GAM
i
3 rd READING 7- q- C/C3 " LER SO.BE
NOT APPROVED
REFERRED
PASSED 7,_ q-90
; City of South Bend
�' ��`•`• `� ... Joseph E. Kernan, Mayor
Department of Administration and Finance
Katherine Humphreys, Director
June 20, 1990
Thomas Zakrzewski
President
Common Council
400 County-City Bldg.
South Bend, Indiana 46601
Dear Tom:
Attached please find an Ordinance requesting an appropriation for
$80,000 in the Department of Economic Development. As you may
recall, in 1989 we appropriated an additional $80,000 into the
Department of Economic Development. The purpose of this $80,000 was
to cover predevelopment expenses associated with the Studebaker
Corridor Bond issue. These expenses included appraisals, title work,
and other miscellaneous expenses associated with the Bond issue. At
the time this money was appropriated to Economic Development, we
recognized that it might be at risk if the Bond issue failed. It was
also intended that if the Bond issue was successful, the money would
be reimbursed from Bond proceeds.
Since we have closed on the Bond and the money has been
reimbursed to the General Fund, we are now requesting that this
$80,000 be reappropriated to the Department of Economic Development.
The purpose of the 1990 appropriation is again to cover
predevelopment costs for several projects. Either Jon Hunt or I will
be happy to answer any questions you might have regarding this
appropriation. I look forward to discussing with you further.
Sinc-rely,
' a herine Humphreys
Director of Administration
and Finance
KH:j b•c County-City Building • South Bend, Indiana 46601 • 219/284-9742 Fax 219/284-9892
attachment
Catherine A. Hubbard John D. Leisenring C. J. Cartwright
Personnel Director Chief Deputy Controller Safety & Risk Manager
284-9124 284-9483 284-9482