HomeMy WebLinkAboutAppropriating $6,800.00 "Current Obligations from the General Sinking Bond FundORDINANCE No. 5739 -74
Passed by the Common Council of the City of South Bend,
SEPTEMBER 23, 19 74
IRENE K. GAMMON
Presented by me to the Mayor of the City of South Bend,
SEPTEMBER 24, �n 74
Clerk
Of Common Council
Clerk
IRENE K. GAMMON
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ORDINANCE NO, S,239-'2y
AN ORDINANCE APPROPRIATING $6, 800.00 TO
ACCOUNT NO. 610.0 "CURRENT OBLIGATIONS -
INTEREST ON BONDS" FROM THE GENERAL
SINKING BOND FUND OF THE CITY OF SOUTH BEND,
INDIANA
WHEREAS, certain extraordinary conditions have developed
since the adoption of the existing annual budget so that it is now necessary
to appropriate more money than was appropriated in the General Sinking
Bond Fund, Account No. 610.0 "Current Obligations - Interest on Bonds ";
and
WHEREAS, a surplus currently exists in the General Sinking
Bond Fund which may be appropriated;
NOW, THEREFORE, BE IT ORDAINED by the Common Council
of the City of South Bend, Indiana:
SECTION I. That the sum of $6, 800.00 be, and hereby is
appropriated from the General Sinking Bond Fund to Account No. 610.0
"Current Obligations - Interest on Bonds" of the General Sinking Bond
Fund.
SECTION II. This Ordinance shall be in full force and effect
from and after its passage by the Common Council, its approval by the
Mayor and the fulfillment of any statutory requirements.
1st READING 9 - 9 y
PUBLIC HEARING 4 -9 15?-2 y FILED IN CLERK'S 01TICE
2nd READING
NOT APPROVED
REFERRED SEP 4 1974
PASSED 9 - :z s - 7 4
Irene Gammon
CITY CLERK, SOUTH BEND; IND.
Tantmturr Irpart
an tkt Tans wn (aoonrd of the fang of ftd4 lornh:
Your Committee of the Whole
to whom was referred
AN ORDINANCE APPROPRIATING $6,800.00 TO
ACCOUNT NO. 610.0, "CURRENT OBLIGATIONS —
INTEREST ON BONDS" FROM THE GENERAL
SINKING BOND 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
F... FRED. FV ...... HG CO.
CITY OF SOUTH BEND Reply To:
South Bend, Indiana 46601
Jerry J. Miller
Mayor
James V. Barcome
Director, Administration and Finance
TO: Members of the Common Council
FROM: James V. Barcome, Controller
Director - Administration and Finance
DATE: September 4, 1974
The attached two Ordinances are necessary in order for
us to meet our interest payment on the outstanding bond
issues, which is due December 1, 1974.
Last year, sufficient funds were not appropriated in this
particular account. Consequently, we must transfer
$3,900.00 from earned interest on the proceeds of the
Municipal Bonds of 1971, which, in combination with the
surplus already in the General Sinking Bond Fund, will
enable us to appropriate the required amount of $6,800.00.
Thank you in advance for your cooperation in this matter.
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Attachments: 2
L(1 VALLG, 'V.. 1 V11
- Administration & Finance