HomeMy WebLinkAboutCreate a Cumulative Capital Improvement FundORDINANCE No. 4832 -66
Passed by the Common Council of the City of South Bend,
19 66
i
Presented by me to the Mayor of the City of South Bend,
Approved and signed by
February 15, 1966
Clerk
of Common Council
Clerk
IDEAL PRESS
FILED IN CLERK'S OFFICE
jAN 211966
KATHRYN L. BLOUGH
CITY CLERK, SOUTH SEND, IND,
ORDINANCE N0. --
AN ORDINANCE TO CREATE A CUMULATIVE CAPITAL
IMPROVEMENT FUND
BE IT ORDAINED by the Common Council of the City of South Bend:
SECTION I. In accordance with the requirements of Section 8 of
Chapter 225, of the Acts of the 1965 General Assembly, there is hereby
created a special fund to be known as the Cumulative Capital Improvement
Fund of South Bend into which the cigarette taxes allotted to South Bend
by reason of Subsection C (1) (C) of Section 27C and Section 27D of the
Indiana Cigarette Tax Law being Chapter 222 of the Acts of 1947 as amen-
ded shall be deposited. Said fund shall be appropriated and used solely
for capital improvements as hereinafter defined and none of such monies
shall revert to the general fund or be used for any purposes other than
capital improvements.
SECTION II. The term "capital improvements" means the construc-
tion or improvement of any property owned by the City of South Bend
including but not limited to streets, thoroughfares and sewers and the
retirement of general obligation bonds of South Bend issued, and the
proceeds used for the purpose of constructing capital improvements. The
term capital improvement shall not include salaries of any public offi-
cials or employees except those which are directly chargeable to a capi-
tal improvement.
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.
1
rer of the Common kouncil
Isf & 2nd READING / -G6
COWINTTEE OF THE WHOLE
PUBLIC HEARIRG 2 G (o
3:d READING
NOT A"PROVED
REFERRED
PASSED _T-11(146
fdolm our Irpart
its Oe (IIommon (IIomurd of *r Tog of OmO4 Wrna:
Your Committee of the whole
February 14, 1966
to whom was referred "AN ORDINANCE TO CREATE A CUMULATIVE CAPITAL IMPROVEMENT FUND,
Respectfully report that they have examined the matter and that in their opinion The Ordinance go to the
Council as favorable,