HomeMy WebLinkAboutEstablish one additional fund, namely, Fund No. 426, TIF District, - Central Medical ServicesORDINANCE No.
9252-01
Passed by the Commou Council of the City of South Bend, Indiana
August 27,
Attest:
Attest: ~ ~-.
20
01
Presented by me to the Mayor of the Ciry of South Bend, Indiana
Aunu~t ~R~ 20 01
City Clerk
President of Common Council
City Clerk
August 29,
Approved attd signed by me 20 01
Mayor
ORDINANCE NO. 1 Z s~ Q 1
AN ORDINANCE OF THE SOUTH BEND COMMON COUNCIL TO
ESTABLISH ONE ADDITIONAL FUND, NAMELY, FUND N0.426,
TIF DISTRICT -CENTRAL MEDICAL SERVICES
STATEMENT OF PURPOSE AND INTENT
This Ordinance establishes a new Fund, No. 426, for the deposit and disbursement of Tax
Increment Financing dollars in the Central Medical Services Area TIF District which was recently
established by the South Bend Redevelopment Commission in Resolution No. 1737.
NOW, THEREFORE, BE IT ORDAINED by the Common Council of the City of South
Bend, Indiana as follows:
Section I. Anew Fund, No. 426, is created and designated as the TIF District -Central
Medical Services Area Fund.
Section II. All sums of money collected and deposited in this Fund No. 426 shall be used
solely for the purposes of acquisition, demolition, environmental assessment, public works
construction, disposition, site preparation, maintenance, and any other similar purpose permitted by
and consistent with applicable Tax Increment Finance state law.
Section III. Any and all interest earned on monies deposited in the Central Medical Services
Area TIF fund shall remain in the fund.
Section IV. Monies remaining in each respective fund at the end of the fiscal year shall not
revert to any other fund.
Section V. This Ordinance shall be in full force and effect from and after its passage by the
Common Council and approval by the Mayor.
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Member, Common Council
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1 st READING
PUBLIC HEARING ~-Ll~~
.3rd READING $-L~-o)
N07 APPROVED
REFERRED
PASSED g -z~-~~
f11ed In Clerk's ®ffiee
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LOFI&TTA J. DlfDfi
CITY CLfiRK, 80. BIcND. Itl.
COMMITTEE REPORT
TO THE COMMON COUNCIL OF THE CITY OF SOUTH BEND:
Your Committee of the Whole, to whom was referred:
RTT,T, Nn_
63-01 A BILL OF THE SOUTH BEND COMMON COUNCIL TO ESTABLISH ONE
ADDITIONAL FUND, NAMELY, FUND NO. 426, TIF DISTRICT -
CENTRAL MEDICAL SERVICES
Respectfully report that they have examined the matter and that in their opinion, this bill is being
recommended to the full Council with a favorable recommendation.
Andrew Udj ak
Chairman
1200 COUNTY-CITY BUILDING
Sotrrx BEND, INDIANA 46601-1830
PHONE 219/ 235-9371
FAx 219/235-9021
TDD 219! 235-5567
CITY OF SOUTx BEND STEPHEN J. LUECKE, MAYOR
COMMUNITY & ECONOMIC DEVELOPMENT
JON R. HUNT
EXECUTIVE DIRECTOR
July 10, 2001
South Bend Common Council
Fourth Floor Council Chambers
400 County-City Building
South Bend, IN 46601
Dear Council Member:
The attached bill for your consideration and approval will create a new fund for the deposit of
TIF revenue for the Central Medical Services Area recently established adjacent to the
downtown.
If you have any question regarding this bill, please call me at 235-9330.
Sincerely, '.
~~ L
Elizabeth eonard
Director
Financial and Program Management
cc: Jon Hunt
Don Inks
John March
Tom Skarbeck
~~I~d in Clerk's 4ffiC~
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COMMUNITY DEVELOPMENT ECONOMIC DEVELOPMENT FINANCIAL SC PROGRAM
PAMELA C. IVIEYER DONALD E. INKS MANAGEMENT
219/235-9660 219/235-9371 ELIZABETH LEONARD
FAx: 219/235-9697 219/235-9371