HomeMy WebLinkAboutAppropriating $50,000.00 for Studebaker Museum IncORDINANCE No. 7315 -84
Passed by the Common Council of the City of South Bend, Indiana_
K
March 26, rq 84
IRENE K. GAMMON
Presented by me to the Mayor of the City of South Bend, Indiana
Clerk
of Common Council
City Clerk
IRENE K. GAMMON
Approved and signed by me 7 I
ORDINANCE NO. 7,3 &r S/
AN ORDINANCE APPROPRIATING $50,000.00 FROM THE FEDERAL
ASSISTANCE GRANT FUND COMMONLY REFERRED TO AS THE
GENERAL REVENUE SHARING TRUST FUND FOR STUDEBAKER
MUSEUM, INC.
STATEMENT OF PURPOSE AND INTENT:
In order to maintain operations of the Studebaker Museum,
Inc., additional funds are needed. Monies are available within
the General Revenue Sharing Trust Fund.
NOW, THEREFORE, BE IT ORDAINED BY THE COMMON COUNCIL OF
THE CITY OF SOUTH BEND, INDIANA, AS FOLLOWS:
SECTION I: That the sum of $50,000.00 is hereby
appropriated for the year 1984 from the Federal Assistance Grant
Fund commonly known as the General Revenue Sharing Trust Fund.
This appropriation is to be administered by the Department of
Administration and Finance and will be distributed as set forth
below:
PROGRAM FA 244
STUDEBAKER MUSEUM
ACCOUNT DESCRIPTION AMOUNT
399.0 Other Contractuals $ 50,000.00
Total $ 50,000.00
SECTION II: That this ordinance shall be in full force
and effect from and after its passage by the Common Council,
approval by the Mayor and approval by the State Board of Tax
Commissioners.
, //,- a - �a4, -
r of the Co on Council
FUD W W� IPS OFFICE
PtiBL t P-i"Al"(1N 3 .a _ `% �...
NOT APPROVED 3' y Irene Gammon
REFERRED CITY UERX, SOUTH BEND, IND.
PASSED
Michael L. Vance
Director, Administration and
Finance
Sherrie L. Petz
Chief Deputy Controller
CITY ®I SOUTH BEND
ROGER O. PARENT, Mayor
COUNTY -CITY BUILDING SOUTH BEND, INDIANA 48601
Council President Beverlie Beck
4th Floor Council Chambers
South Bend, IN 46601
Dear Councilman Beck:
March 7, 1984
219/284 -9483
I have filed the enclosed ordinance for first reading at the
March 12, 1984 council meeting. The ordinance will provide for
the appropriation of $50,000.00 from General Revenue Sharing to
Studebaker Museum, Inc.
This appropriation will allow Studebaker Museum, Inc. to live
up to the terms described in their Escrow Agreement reference the
leasing of the facility in which the Studebaker Collection is now
housed at 520 S. Lafayette Boulevard, South Bend, Indiana. As per
the terms of the lease agreement an escrow fund had to be set up
to guarantee payment of rent, taxes and assessments owing on the
property.
As per the terms of the executed agreement a balance of
$80,000.00 was to be on hand as of May of 1983. That balance was
to be maintained continuously through the 31st day of May, 1984.
In anticipation of rental payments, taxes and minor repairs, it is
estimated that $50,000.00 will be needed to bring the balance up
to the agreed level, we are in danger of violating the terms of
our lease agreement on the property and therefore are in danger of
having the lease terminated by the owner of the property.
If you have any additional questions, please feel free to
contact my office.
Sincerely,
70A.� P ('40-�
Michael L. Vance
Controller
MLV:dkf
Enclosure
coo toe (Inumn (foundt of t4e 01thj of 0OW419fnON:
Your Committee OF THE WHOLE
to whom was referred
28 -84 A BILL APPROPRIATING $50,000.00 FROM THE FEDERAL ASSISTANCE
GRANT FUND COMMONLY REFERRED TO AS THE GENERAL REVENUE
SHARING TRUST FUND FOR STUDEBAKER MUSEUM, INC.
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.