HomeMy WebLinkAboutAppropriating $175,000.00 Federal Assistance Grant Operations of the Parking Garage SystemsPassed by the Common Council of the City of South Bend, Indiana
May 22 rq 78
IRENE K. GAMMON
Attest:
Presented by me to the Mayor of the City of South Bend, Indiana
Approved and signed by me
May 2 3 i9 7 8
Clerk
of Common Council
IRENE K. GAMMON
Clerk
ORDINANCE NO. (,3(07-2S(
AN ORDINANCE APPROPRIATING $175,000.00 FROM THE
FEDERAL ASSISTANCE GRANT, COMMONLY KNOWN AS
GENERAL REVENUE SHARING, FOR OPERATIONS OF THE
PARKING GARAGE SYSTEM, TO BE ADMINISTERED BY
THE CITY OF SOUTH BEND, THROUGH THE DEPARTMENT
OF ADMINISTRATION AND FINANCE.
STATEMENT OF PURPOSE AND INTENT:
Additional funds are needed by the Controller's Office
to insure its ability to meet parking garage obligations dur-
ing the period of change -over for the parking meter system.
NOW, THEREFORE, BE IT ORDAINED BY THE COMMON COUNCIL OF
THE CITY OF SOUTH BEND, INDIANA, as follows:
SECTION I. The sum of $175,000.00 is hereby appropriated
for the year 1978 from the Federal Assistance Grant Fund commonly
known as the General Revenue Sharing Trust Fund. This appropria-
tion is to be administered by the Controller's Office and will
be distributed as set forth below:
ACCOUNT
655.0
PROGRAM FA 157
DESCRIPTION
Parking Sinking Fund
AMOUNT
$175,000.00
TOTAL FA 157 $175,000.00
SECTION II. This Ordinance shall be in full force and
effect from and after its passage by the Common Council, approval
by the Mayor and the fulfillment of all statutory requirements
for emergency appropriations.
c
Memeb of the Common Council
ls� I signed only to provide at
o n t iort , f ,c discussion
and Council action on the issue.,
1st READING S-- a — 7 d
PUBLIC HEARING 4`6?a 7 7
2nd READING
NOT APPROVED
REFERRED
PASSED
Peter H. Mullen
Director, Administration and
Finance
CITY of SOUTH BEND
PETER J. NEMETH, Mayor
COUNTY -CITY BUILDING SOUTH BEND, INDIANA 46601
May 3, 1978
Common Council Members
County -City Building
South. Bend, Indiana 46601
Dear Council Members:
219/284 -9742
There will be presented for your consideration for
first reading on May 8, 1978, an Ordinance appropriating
$175,000 from the General Revenue Sharing Trust Fund. These
monies will be used in guaranteeing parking revenues during
the change -over period from metered to non - metered parking
in the downtown area.
It is our belief that there will be a period of
uncertainty as to parking system revenue levels at the point
parking meters are removed.
We are uncertain as to the actual level of revenues
which will be obtained after the removal of meters from the
downtown area. We also feel that, during the three to four
month period immediately after removal, there could be an
adverse effect on the parking garage revenues. We have not
yet arrived at a final estimate as to the extent of this
problem, but we feel that a cushion of about $100,000 is
necessary to meet obligations until plans for new parking
enforcement can be finalized.
In addition to the $100,000, the city is also required
to make an advance cash disbursement of about $430,000
at the time of the sale of the bonds to pay bond printing
and sale costs. The city presently has $358,614 in the
Parking Garage Sinking Fund for this purpose, but an additional
$75,000 is required.
If, after the parking meters are removed, the expected
change in revenue does not occur, those monies appropriated
will not be spent.
Common Council Members
Page 2
May 3, 1978
If you have any further questions, please feel free
to contact my office.
Sincere
1 7 --1 jai . L'16t1"
City Controller
fCnmmittrr 14purt
too toe Tommou (Ioumit of tot (Iitu of omd# fired:
Your Committee OF THE WHOLE
to whom was referred
A BILL APPROPRIATING $175,000.00_FROM THE FEDERAL
ASSISTANCE GRANT, COMMONLY KNOWN AS GENERAL REVENUE
SHARING, FOR OPERATIONS OF THE PARKING GARAGE SYSTEM,
TO BE ADMINISTERED BY THE CITY OF SOUTH BEND, THROUGH
THE DEPARTMENT OF,ADMINISTRATION AND FINANCE.
Respectfully - report that they have examined the matter and that in their opinion THIS BILL SHOULD BE RECOMMENDED
TO THE COUNCIL FAVORABLE.
FRANK HORVATH
Chairman
INS■ PAM 01JW PUNWININO CO,