HomeMy WebLinkAboutAdditional Appropriation from the General Park Fund in the Amount of $2,000.00 to the Park District FundORDINANCE NO. 4781 - -65
Passed by the Common Council of the City of South Bend,
0
Presented by me to the Mayor of the City of South Bend,
Approved and signed by
July 30th 1965
Clerk
of Common Council
Clerk
IDEAL PRESS
ORDINANCE NO. % LL— - ,7
FILED IN CLE K'S OFFICE
AN ORDINANCE FOR ADDITIONAL APPROPRIATION
J U N 2 3 198:` FROM THE GENERAL PARK FUND IN THE AMOUNT
OF TWO THOUSAND DOLLARS ($2,000.00) TO THE
PARK DISTRICT FUND
KATHRYN BOUGH
CITY CLERK, SO H BEND, IND.
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 annual budget, for
the various functions of city government to meet such extraordinary
emergencies and
WHEREAS, an error was made in computing the 1965 Park District
Fund budget causing a shortage to occur in the Park District Fund. The
figure used in Line 6 (Actual balance, June 30th, 1964) of the 1965 budget
showed a balance of $90,245.61 as of June 30th, 1964. This figure included
money that was appropriated for construction work in conjunction with the
sale of General Obligation Bonds in February 1963 in the amount of $800,000.00
The actual balance in the Park District Fund as of June 30th, 1964 was
$47,203.51 thus creating a shortage of $43,042.70 in the Park District Fund
to meet Bond and Principal payment due in 1965 and,
WHEREAS, Premium and Interest in the amount of $16,522,64 was
earned from the sale of Bonds, and investments in U. S. Treasury Bills has
earned the amount of $18,243.45, and a balance of $3,732.14 was unexpended
in the 1963 Park District Bonds sale, which sums total $38,498.23. This
amount can be used to offset the above shortage, and,
WHEREAS, Bond Principal and Interest payments for the year 1965
total $1291287.62, and estimated income to meet said debt is $127089.56
SECTION I. BE IT ORDAINED, by the Common Council of the City
of South Bend, Indiana, that for the expenses of
City Government and its institutions for the year
ending December 311 1965, the following sum of
money is hereby appropriated and set apart out of
the fund herein named and for the purpose herein
specified, subject to the laws governing the same,
and such sum herein appropriated shall be held to
include all expenditures authorized to be made
during the year, unless, otherwise expressly
stipulated and provided by law.
SECTION II. That for said fiscal year there is hereby appropri-
ated out of and from the General Park Fluid, the
following specified amount to meet such extra-
ordinary emergencies as follows, to wit:
1. Park District Fund - $2,000.00
SECTION III. 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 all
statutory requirements of emergency appropriations.
let 8 2nd READIMB
IAOTfEE OF THE M71OL[ Member of the Common Council
PUBLIO HEARIRB
3rd READING 7
NOT APPROVED
REFERRED
1ED
Tonat ittre Ieport
on the (Qnmawn (901turit of the Tttg of 011144 ]hub:
Your Committee of the Whole
July 29, 1965
to whom was referred "AN ORDINANCE FOR ADDITIONAL APPROPRIATION FROM THE GENERAL PARK FUND
IN THE AMOUNT OF TWO THOUSAND DOLLARS ($2,000.00) TO THE PARK DISTRICT FUND ",
Respectfully report that they have examined the matter and that in their opinion
as favorable.
this ordinance go to the Council
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