Loading...
HomeMy WebLinkAboutEstablishing a Nonreverting "East Bank Trail Fund ORDINANCE No. 7467-85 Passed by the Common Council of the City of South Bend,Indiana May 28, 85 - 19 Attest: City Clerk IRENE K. GAMMON Attest: President of Common Council Presented by me to the Mayor of the City of South Bend, Indiana May 29 , 85 IQ 7<- City Clerk IRENE K. GAMMON Approved and sired by me a Ig d'S rtMayor y BILL NO. ORDINANCE NO. AN ORDINANCE ESTABLISHING A NONREVERTING "EAST BANK TRAIL FUND" . STATEMENT OF PURPOSE AND INTENT: The East Bank Trail , to be acquired , built and operated by the South Bend Parks Department Board of Park Commissioners , has inspired substantial enthusiasm and support from many areas of the community as well as from many individuals and groups throughout the community. To acquire, develop, maintain, and improve the East Bank Trail , funds have been and are expected to be received from both public and private sources, designated for use specifically related to the East Bank Trail . It is necessary to establish a nonreverting fund to receive these monies and to disperse them solely for East Bank Trail purposes . NOW, THEREFORE, BE IT ORDAINED BY THE SOUTH BEND COMMON COUNCIL, as follows : SECTION I. An "East Bank Trail Fund" is established as a separate dedicated fund to be administered by the Parks Department and to be used solely to receive monies by way of donation, appropriation, and revenue from East Bank Trail events and operations . SECTION II. All sums of money collected and deposited in the East Bank Trail Fund shall be used solely for purposes of acquisition, development, maintenance , and improvement of the East Bank Trail and areas and activities directly associated therewith. SECTION III. Any and all interest earned on monies deposited in the East Bank Trail Fund shall remain in the fund. SECTION IV. Monies remaining in the East Bank Trail Fund at the end of the fiscal year shall not revert to the general fund. SECTION V. This ordinance shall remain in full force and effect from and after its passage by the Common Council and approval by the Mayor. . e :er of the Com n ouncil e5G44-1 C(cL A N Department of Public c Parks ° Administration Building h e , St. Louis Boulevard at Wayne Street South Bend, Indiana 46617 PHONE: (219) 284-9401 May 6, 1985 Members of the Common Council County-City Building South Bend, Indiana 46601 Dear Members of the Common Council, . The Department of Public Parks is requesting the Common Council to approve an ordinance establishing a nonreverting fund for the East Bank Trail System. The East Bank Trail project has received enthusiastic support from the community and from many individuals and groups with the pledge to contribute funds for the maintenance and operation of the proposed trail. Organizers of the Sunburst Marathon have proposed to contribute $ .99 of any entry fee to the marathon which money would be deposited in the East Bank Trail nonreverting fund and be used for maintenance of the East Bank Trail. To make sure these funds are used solely for the above stated purpose the Park Department is requesting the Common Council to establish a nonreverting East Bank Trail Fund as a vehicle to receive and disperse funds for the above stated purposes. The Park Department believes that the establishment of a nonreverting East Bank Trail Fund will be beneficial to the operation of the proposed trail and requests the Common Council's consideration in approving the Nonreverting Fund Ordinance. Very truly yours, DEPA*MENT OF j-:LI C PARKS j‘kArAOr amen R. el u/7 Superintends JRS:dlm Connittitrt &port On hit Comm (lounrit of tip (Dig of$nutli end: Your Committeeof the Whole to whom was referred BILL NO. 50-85 A BILL ESTABLISHING A NONREVERTING "EAST BANK TRAIL FUND" . Respectfully report that they have examined the matter and that in their opinion This bill should be recommended to the Council favorable Joseph T. SergeChatrman FREE PRESS PUBLISHING CO.