HomeMy WebLinkAboutTransferring the Balance of $24,000.03 Urban Redevelopment Fund to the General FundORDINANCE No. 5934 -75
Passed by the Common Council of the City of South Bend,
December 15 19 79
IRENE K. GAMMON
Presented by me to the Mayor of the City of South Bend,
December 16 ,, 75
Clerk
of Common Council
Clerk
IRENE K. GAMMON
ORDINANCE NO. 593y -75
AN ORDINANCE TRANSFERRING THE BALANCE OF $24,000.03
FROM THE URBAN REDEVELOPMENT FUND TO THE GENERAL
FUND OF THE CITY OF SOUTH BEND, INDIANA
WHEREAS, there exists a balance of $24,000.03 in the Urban Redevelop-
ment Fund of the City of South Bend, Indiana; and
WHEREAS, said fund has been used to the extent for which it was intended;
WHEREAS, IC 19 -11 -1 specifically allows the transfer of any unused funds
raised by tax levy into the General Fund.
NOW, THEREFORE, BE IT ORDAINED by the Common Council of the City of South
Bend, Indiana, that:
Section I. That the sum of $24,000.03 be, and hereby is, transferred
from the Urban Redevelopment Fund to the General Fund of the City of South
Bend, Indiana.
Section II. This Ordinance shall be in full force and effect from and
after its passage by the Common Council, and the approval by the Mayor.
I signed only to provide an
LN
opportunity for public discussion
and Council action on the issue.,
FILED IN CLERK'S OFFICE
ist READING
// - '�2 q- '/ S
PUBLIC HEARING
/ a - i S - -7 S
'. �� 191975
2nd READING
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NOT APPROVED
Irene Gammon
REFERRED
5-'? 5-
SOUTH BEND. IND.
CY CLRKPASSED
CITY OF SOUTH BEND
South Bend, Indiana 46601
Jerry J. Miller
Mayor
James V. Barcome
Director, Administration and Finance
Common Council
City of South Bend
4th Floor
County -City Building
South Bend, Indiana
Gentlemen:
Reply To: Bureau of
Administration & Finance
November 20, 1975
I'm presenting an ordinance for your consideration on November 24, 1975,
which will transfer the unspent balance of the Urban Redevelopment Fund
to the General Fund of the City of South Bend.
This power to make this transfer is specifically given to the Common
Council through IC- 19 -11 -1. In short, this section of the code stipulates
that the unused portion of any fund raised by tax levies or special taxes
may be transferred to.the general fund upon the completion of the uses
intended for the fund.
Where as nothing could be gained through letting the funds remain idle
in their present fund, by transferring this balance, the general fund will
have a better working cash balance.
If I can be of further help please feel free to contact me.
Very trul yours,
i
ames V Barcome, Director
Administration & Finance
JVB /mkm
Tontmiiirr Irpur#
On 144 f[ ommu Touuril of flit flttlg of Oow4 wrnd
Your Committee of the Whole
to whom was referred
An ORDINANCE transferring the balance of $24,000.03
from the Urban Redevelopment Fund to the General Fund
of the City of South Bend, Indiana.
Respectfully report that they have examined the matter and that in their opinion
The ORDINANCE should be recommended favorably to the
Common Council.
Odell Newburn
Chairman
FP 6. •.... a '0........ CO.