HomeMy WebLinkAboutTransferring Funds from the Old Barrett Law AccountORDINANCE No. 7412 -84
Passed by the Common Council of the City of South Bend, Indiana
Attest:
December 3, rq 84
IRENE K. GAMMON
Presented by me to the Mayor of the City of South Bend, Ind'ana
Approved and signed by
City Clerk
of Common Council
December 4, ig 84
City Clerk
IRENE K. GAMMON
BILL NO.
ORDINANCE NO . � 44 ( -a-& 4
AN ORDINANCE TRANSFERRING FUNDS FROM THE OLD
BARRETT LAW ACCOUNT TO THE SURPLUS BARRETT LAW
ACCOUNT WITHIN THE BARRETT LAW ACCOUNTS OF THE
CITY OF SOUTH BEND
STATEMENT OF PURPOSE AND INTENT:
Ordinance No. 7411 -84 established procedures for
transfer of funds from tEie O-IU- Barrett Law Account to the surplus
Barrett Law Account. The procedures have been followed for the funds
herein transferred.
NOW, THEREFORE, BE IT ORDAINED BY THE COMMON COUNCIL OF THE
CITY OF SOUTH BEND, as follows:
SECTION I. The Council finds that there are monies
remaining in the Old Barrett Law Account that have been on hand for
ten (10) years or more, or represent interest collected on such
monies, and that those monies represent funds for which no bonds or
coupons have been presented for payment, or if presented and
withdrawn, have not been presented again for a period of ten (10)
years. The Council further finds that there are funds remaining in
the Old Barrett Law Account for which there is no record of any
presentation or withdrawal existing within the Barrett Law records
and archives.
SECTION II. The funds listed below, which represent funds
meeting the indings in Section I, hereof, shall be transferred as
follows within the Barrett Law Accounts of the City of South Bend:
Decrease: Old Barrett Law Account $421,001.17
Total Decrease $421,001.17
Increase: Surplus Barrett Law Account $421,001.17
Total Increase $421,001.17
Section III. This Ordinance shall be in full force and
effect from and after its passage by the Common Council and approval
by the Mayor.
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Xv #4e Toumton Tonnrd of #ter Tq of Ovi# 191tnd:
Your Committee OF THE WHOLE
to whom was referred
128 -84 A BILL TRANSFERRING FUNDS FROM THE OLD BARRETT LAW ACCOUNT TO
THE SURPLUS BARRETT LAW ACCOUNT WITHIN THE BARRETT LAW ACCOUNTS
OF THE CITY OF SOUTH BEND.
Respectfully report that they have examined the matter and that in their opinion THIS BILL SHOULD BE RECOMMENDED
TO THE COUNCIL FAVORABLE.
Joseph T. Serge
Chairman
FREE PRESS PUBLISHING CO.