HomeMy WebLinkAboutAuthorizing the Temporary Transfer of Idle Funds of South Bend from Various Funds within the CityRESOLUTION
NO. 1835 -91
Passed by the Common Council of the City of South Bend, Indiana
Attest
January 14,
19 91
_ � a /dam City Clerk
of Common Council.
Presented by me to the Mayor of the City of South Bend, Indiana
January 15, 91
19
�.�..` ' %— -. ✓ City Clerk
Approved and signed by me _ January 16 19 91
Mayor
SUBSTITUTE RESOLUTION NO. �r cu
A RESOLUTION AUTHORIZING THE TEMPORARY TRANSFER
OF IDLE FUNDS OF THE CITY OF SOUTH BEND, INDIANA,
FROM VARIOUS FUNDS TO THE VARIOUS FUNDS WITHIN
THE CIVIL CITY OF SOUTH BEND, INDIANA.
STATEMENT OF PURPOSE AND INTENT:
It is necessary to provide funds for the Park Maintenance Fund,
Unsafe Building Fund, Morris Civic Auditorium Fund, Cumulative Capital
Improvement Fund, and Discovery Hall Fund prior to the receipt of taxes
in the year 1991 in order to meet the current operating expenses of the
City, provided for in the budget adopted for the year 1991.
There are monies on deposit to the credit of various funds of
the City, to wit: Liability Insurance Premium & Reserve Fund, and
Local Roads and Streets Fund, which can be temporarily advanced or
transferred to the various funds already mentioned.
Indiana Code 36 -1 -8 -4 authorizes the Common Council of the
Civil 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 ORDAINED 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 $785,000.00
to various funds from various funds as listed below. The aggregate
amount of $785,000.00 to be distributed so as not to exceed at any one
time the maximum amounts as set forth below. Any such transfers made
must be repaid by December 31, 1991.
FROM:
MAXIMUM
TO:
MAXIMUM
Liability Insurance $
500,000
Park Maintenance Fund $
375,000
Premium & Reserve Fund
Local Roads & Streets Fund
285,000
Unsafe Building Fund
10,000
TOTAL $
785,000
Morris Civic Auditorium
Fund
50,000
Cumulative Capital
Improvement Fund 300,000
Discovery Hall Fund 50,000
TOTAL $ 785,000
SECTION II. Such transfer shall be made for a period of time
not to extend beyond December 31, 1991 and such funds to be transferred
shall be returned and repaid to the original funds from which they were
transferred.
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.
Member o ommon Council
PRESENTED I-- f k , - 9
A 141991
NOT APPROVED (� o
,- ADOPTED I - I L' , Q \ Q.O Y�o.- camd,,e -?/- GIP .BEND, in.