HomeMy WebLinkAboutAuthorizing the Temporary Transfer of Idle Funds of the City of South Bend from Various Funds to Various FundsRESOL1YTtON
Passed by the Common Council of the City of South Bend,
January S, 90
19
Attest:_ �" '�� City Clerk
i President of Common Council.
Presented by me to the Mayor of the City of South Bend, Indiana
January 9, 90
19
L�
Approved and signed by me January 9 19 90
5d
City Clerk
Mayor
RESOLUTION NO. /'? &,Z - q
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
Improvement Fund, Park Maintenance Fund,
Junk Vehicle Fund, Unsafe Building Fund
to the receipt of taxes in the year 1990
operating expenses of the City, provided
the year 1990.
for the Cumulative Capital
Morris Civic Auditorium Fund,
and Discovery Hall Fund prior
in order to meet the current
for in the budget adopted for
There are monies on deposit to the credit of various funds of
the City, to wit: Liability Insurance Premium and Reserve Fund, Water
Works General Fund, Local Roads and Streets Fund and Fire Pension 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 $1,100,000.00
to various funds from various funds as listed below. The aggregate
amount of $1,100,000.00 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, 1990.
FROM: MAXIMUM TO: MAXIMUM
Liability Insurance
Premium & Reserve Fund $ 500,000
Water Works General Fund 300,000
Local Roads & Streets Fund 200,000
Fire Pension Fund 100,000
TOTAL $ 1,100,000
Cumulative Capital
Improvement Fund $ 160,000
Park Maintenance Fund 750,000
Morris Civic Auditorium
Fund 85,000
Junk Vehicle Fund 14,000
Unsafe Building Fund 16,000
Discovery Hall Fund 75,000
TOTAL $ 1,100,000
SECTION II. Such transfer shall be made for a period of time
not to extend beyond December 31, 1990 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.
PRESENTED /- F.7®
NOT APPROVED
ADOPTED /_ F,9()
Member of ror Council