HomeMy WebLinkAboutCreating a Civic Center Development FundORDINANCE NO. 5374 -71
AN ORDINANCE CREATING A CIVIC CENTER DEVELOPMENT
FUND, ACCEPTING DONATIONS FOR DEPOSIT IN SAID FUND,
AND APPROVING AN AGREEMENT REGARDING THE USE OF SAME.
WHEREAS, the City of South Bend has embarked upon the develop-
ment of a Civic Center within the area bounded generally by Wayne St.
on the south, St. Joseph St. on the west, Colfax Ave. on the north and
the St. Joseph River on the east; and
WHEREAS, it is contemplated that an art center and exhibition
hall will be among the first improvements to be erected in said Civic
Center; and
WHEREAS, it is anticipated that said improvements will be
undertaken with private funds donated for such purpose; and
WHEREAS, a special fund needs to be established for receipt
and handling of any and all donations which may be made for such pur-
pose; and
WHEREAS, the National Bank and Trust Company of South Bend,
Indiana, as Trustee of The Muessel - Ellison Memorial Trust Foundation,
is desirous of contributing $100,000 for such purposes,
NOW, THEREFORE, BE IT ORDAINED by the Common Council of the
City of South Bend, Indiana:
SECTION I. That there is hereby established within the
accounts administered by the City Controller a new special fund to be
known as the "Civic Center Development Donation Fund" to be used for
the receipt and deposit of donations for use in the development of the
aforesaid Civic Center.
SECTION II. That said Civic Center Development Donation Fund
shall be a continuing fund and donations deposited therein shall not
revert to the general fund; the City Controller is hereby authorized
to invest any monies on deposit in said fund in such manner as he may
deem appropriate, consistent with the statutes of the State of Indiana;
any interest or other income earned from such investments shall be
added to principal and retained in said fund for use in the same manner
as other monies accumulated therein.
SECTION III. That a donation of $100,000 from the National
Bank and Trust Company of South Bend, Indiana, as Trustee of The
Muessel- Ellison Memorial Trust Foundation, is hereby formally accepted
for deposit in said fund for the uses and purposes indicated, and,
further, all future donations to said fund for like purposes are hereby
formally accepted.
SECTION IV. That a formal agreement dated December 27, 1971,
and executed by the National Bank and Trust Company of South Bend,
Indiana, as Trustee of The Muessel - Ellison Memorial Trust Fund and the
Board of Public Works and Safety governing donations to the Civic
Center Development Donation Fund by the Muessel- Ellison Memorial Trust
Foundation is hereby approved and the Mayor is authorized to signify
such approval by executing the same.
SECTION V. This ordinance shall be in full force and effect
from and after its passage and approval by the Mayor.
Passed by the Common Council of the City
27th day of December , 1971•
61
ATTEST:
h Bend, Indiana, on the
cer or the Common Coun
14 C L E
Presented by me to the Mayor of the City of South Bend, Indiana, on the
28th day of December , 1971, at the hour of 11 o'clock, A. M.
Th OrdiAnanee approved and signed by
,,; , 1971, at the hour of
]Et & 2nd READING 12 -27 -71
COMMMEE OF T'Ir lhlu^J r
PUBLIC HEAPo .� Suspension of the rules
3rd READINC 12 -27 -71
NOT APPRCV
REFERRED
PASSED 12 -27 -71
12 -27 -71
on the
90 o'clock, _ p
day of
FILED IN CLERK'S OFFICE
J)EC2? 1971
Kathryn L. Blough
City Clerk, South Bend, Ind.
(Anus iwtrr Krpnrt
U10 the Tommon Connrtl of tke Tn# of #vuth lornb
Your Committee of the Whole
to whom was referred AN ORDINANCE CREATING A CIVIC CENTER DEVELOPMENT
FUND, ACCEPTING DONATIONS FOR DEPOSIT IN SAID
FUND, AND APPROVING AN AGREEMENT REGARDING THE
USE OF SAME.
Respectfully report that they have examined the matter and that in their opinion the Ordinance go to the
Council as favorable
Chairman
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