HomeMy WebLinkAboutAuthorizing the Temporary Transfer of Idle Funds of City of South Bend RESOLUTION
NO. 1404-86
Passed by the Common Council of the City of South Bend, Indiana,
March 10 , 19 86 .
Attest: r `� City Clerk
Attest: C -4[f-6/4 _ C .- 4 President of Common Council.
Presented by me to the Mayor of the City of South Bend, Indiana
March 11, 19 86
/CT 716-rin--t-0--c-' City Clerk
Approved and signed by me Knit alteb-' ! I 19.3k.
I/77 1 7 ����/V✓ Mayor
RESOLUTION NO. Igo 1/41-1(0
A RESOLUTION AUTHORIZING THE TEMPORARY TRANSFER OF IDLE
FUNDS OF THE CITY OF SOUTH BEND, INDIANA, FROM VARIOUS
FUNDS TO VARIOUS FUNDS WITHIN THE CIVIL CITY OF SOUTH
BEND, INDIANA.
WHEREAS, it is necessary to provide funds for the Corporation
General , Park Maintenance, Police Pension and Fire Pension, and Century
Center Board of Managers Operating funds prior to the receipt of taxes in
the year 1986 in order to meet the current operating expenses of the City,
provided for in the budget adopted for the year 1986; and
WHEREAS, there are monies on deposit to the credit of various
funds of the City, to wit: Cumulative Sewer Building and Sinking, Sewage
Works Depreciation, Sewage Works Operating, Sewage Works Insurance Fund,
Water Works Operating, Cumulative Capital Improvement, Sewers Repair, which
can be temporarily advanced or transferred to the various funds already
mentioned; and
WHEREAS, 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 RESOLVED BY THE COMMON COUNCIL OF THE CITY
OF SOUTH BEND, INDIANA:
SECTION I . That the City Controller of the City of South Bend
is authorized to transfer an aggregate amount not to exceed $3 ,900 ,000 . 00
to various funds from various funds as listed below. The aggregate amount
of $3 ,900 , 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 , 1986 .
FROM: MAXIMUM TO: MAXIMUM
Cumulative Sewer Building
& Sinking Fund $1,000,000.00 Corporation General $3,000,000.00
Park Maintenance Fund 500,000.00
Sewage Works Depreciation
Fund 300,000.00 Police Pension Fund 100,000.00
Sewage Works Operating
Fund 1,500,000.00
Sewage Works Insurance
Fund 150,000.00
Water Works Operating Fund 750,000.00 Fire Pension 200,000.00
Cumulative Capital Improvement
Fund 100,000.00
Sewer Repair Fund 100,000.00 Century Center 100,000.00
$3,900,000.00 $3,900,000.00
SECTION II . Such transfer shall be made for a period of time not
to extend beyond December 31 , 1986 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 adoption by the Common Council and approval by the Mayor.
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7`1 .)7 . '�,�L, r -
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em.er of the( . rmo Council
PRESENTED .3'-/e) _ L'
NOT APPROVED NAR y �y 1986
ADOPTED .3- /D -�.6 ']'"a GAMMO
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