HomeMy WebLinkAboutAuthorizing the Temporary Transfer of Idle Funds from Sewage Works Operation & Maintenance to Other Sewage FundsAttest
RESOLUTION
NO. 2730 -99
Passed by the Common Council of the City of South Bend, Indiana,
April 28,
••
Attest: &5'— Pres
Presented by me to the Mayor of the City of South Bend, Indiana
April 29, 1999.
Clerk
of Common Council.
Approved and signed by me April 29 _ 19 99-.
Clerk
Mayor
RESOLUTION NO. LM-91
A RESOLUTION AUTHORIZING THE TEMPORARY TRANSFER
OF IDLE FUNDS OF THE CITY OF SOUTH BEND, INDIANA,
FROM THE SEWAGE WORKS OPERATION AND
MAINTENANCE FUND TO OTHER SEWAGE FUNDS
WHEREAS, it is necessary to provide funds for the Sewage Works Insurance Fund and the
Sewer Repair Fund in order to meet the current operating expenses of each respective insurance
program; and
WHEREAS, there are monies on deposit to the credit of the Sewage Works Operation and
Maintenance Fund, which can be temporarily advanced or transferred to the aforementioned
funds; and
WHEREAS, Indiana Code 36 -1 -8-4 authorizes the Common Council of the City of South
Bend, by Resolution adopted by such Council, to advance and transfer to a depleted fund from
any other such fund, such amount and for such a period of time as may be prescribed in the
Resolution.
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South
Bend, Indiana as follows:
Section I. The City Controller of the City of South Bend is authorized to transfer an aggregate
amount not to exceed $280,000 to various funds from the Sewage Works Operation and
Maintenance Fund. Any such transfers made must be repaid by December 31, 1999.
FR41YI: MA2UMUM
Sewage Works $280,000.00
Operation and
Maintenance Fund
TOTAL $280,000.00
T4: MA)MVRJM
Sewage Works $200,000.00
Insurance Fund
Sewer Repair Fund $ 80,000.00
i :1 11.1 11
Section II. Such transfer shall be made for a period of time not to extend beyond December
31, 1999, and any funds so transferred shall be returned and repaid to the a -fie k,S Office
and Maintenance Fund.
EPR211 499
CITY Chem' .40. i ENti, J ?t
Section III. This Resolution shall be in full force and effect from and after its passage by the
Common Council and approval by the Mayor.
PRESENTED1
NOT APPROVED
ADOPTED
Member of the Common Council
Filed in Clerk's Office
L f.R 2 1 9999
LORETTAJ. DUDA
CITY CLERK, BO. BEND, IN.