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Home My WebLink About9890-08 Amend Chapter 2, Article 14 - To establish a new non-reverting loss recovery fundORDINANCE No. 4a Passed by the Common Council of the City of South Bend, Indiana December 8, 20 08 Attest: ~~(~'"~~ ~ ~ ~~~'~ ~ Ciry Clerk Attest: ~v President of Common Council Presented by me to the Mayor of the City of South Bend, Indiana December 9, 2008 City Clerk J N RDE Approved and signed by me D F ~ P m h e r i n ,~_ ZO ~_ Mayer BILL NO. 81-08 ORDINANCE NO. ` g~d~~a AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, AMENDING CHAPTER 2, ARTICLE 14 OF THE SOUTH BEND MUNICIPAL CODE TO ESTABLISH A NEW NONREVERTING LOSS RECOVERY FUND STATEMENT OF PURPOSE AND INTENT The City of South Bend has from time to time recovered monies on claims against third parties for losses which may or may not be tied to harm or damage to a specific City owned asset, and which may include intangible elements such as lost opportunity, loss of public confidence, increased susceptibility of City owned property to deterioration, all caused by third party conduct. The City presently has no repository for such third party loss recovery, and this ordinance creates such a fund. NOW, THEREFORE, BE IT ORDAINED by the Common Council of the City of South Bend, Indiana: Section I. Chapter 2, Article 14 of the South Bend Municipal Code shall be and hereby is amended to add a new Section 2-170.12 which establishes a Loss Recovery Fund to read as follows: Section 2-170.12 Nonreverting Loss Recovery Fund. (a) The Loss Recovery Fund is established within the City of South Bend to receive compensatory or exemplary damage payments from third parties arising from loss or damage to City tangible or intangible property. (b) The Controller shall use all monies deposited into this Fund for reasonable costs arising from the covered loss including repair or replacement of tangible property, administrative costs of obtaining the loss recovery, enhancement or improvement of City services related to the loss, with any excess to be applied to any reasonable purpose beneficial to the City. (c) The Controller shall deposit monies qualifying for this Fund in the manner prescribed by Ind. Code 5-13-6-1 et seq., as if they were public funds, and may invest those monies as provided by the Ind. Code § 5-13-9-1 et seQ., with any interest deposited into this fund. (d) Appropriation of monies in this fund, shall require approval by the Common Council. (e) The Controller shall provide the Common Council annually with a list of all loss claims recovered by the City from third parties distributed to this fund, and the amount of each such loss recovery. (f) The monies deposited in this fund shall remain in the fund and shall not revert to the general fund. Section II. This ordinance shall be in full force and effect from and after its passage by the Common Council and approval by the Mayor. r cat-t,/!~2- Member of the o mon Council v Q ~h Presented b me to the Mayor of the City of South Bend, Indiana on the day of ~- , 2b0 ~, at ;oUo'clock~.m. ~~City erk Wis. A~oved and signed by me on the /~ day of u~~, 2~, at ~ ~ ~J o'clock, ~_.m. ~-.- May ,City outh Bend, Indiana ~~-Z~-og ~~~ ~U i Jo??COVED Flies ~ ~t'1 ~___.-- dam!.;, ~.:•~C~'~E~D !N. CITY CLEM(, ~C.'°_ , i![rE':ED PASSED ~ ~i-g=f~~ ~t.S Sw~S'~'~~,n~.~'e,~' TO THE COMMON COUNCIL OF THE CITY OF SOUTH BEND: Your Committee of the Whole, to whom was referred: BILL NO. 81-08 A BILL OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, AMENDING CHAPTER 2, ARTICLE 14 OF THE SOUTH BEND MUNICIPAL CODE TO ESTABLISH A NEW NONREVERTING LOSS RECOVERY FUND Respectfully report that they have examined the matter and that in their opinion, this bill is being recommended to the full Council with a favorable recommendation. Derek D. Dieter Chairperson, Committee of the Whole 1401) COUNTY-CITY BUILDING 227 W. JEFFERSON BOULEVARD SOUFH BEND, INDIANA 46601-1830 PHONE 574/ 235-9241 FAX 574/235-9892 TDD 574/ 235-5567 CITY OF SOUTH BEND STEPHEN J. LUECKE, MAYOR DEPARTMENT OF LAW CHARLES S. LEONE A.LADEAN M. DEROSE CITYATTORNEY CHIEF ASSISTANT CITYATTORNEY December 8, 2008 Mr. Timothy Rouse President, South Bend Common Council 4~h Floor, County-City Building South Bend, IN 46601 Re: Bill 81-08 Substitute Version-Nonreverting Loss Recovery Fund Dear President Rouse: Attached for filing with the Common Council is a substitute version of Bill No. 81-08 which is on today's Council agenda for second and third reading. The only change is in the last line of Subpart (b). On the suggestion of the State Board of Accounts, it is clarified that excess funds in this account beyond repair or replacement of damaged property maybe used for "any reasonable purpose beneficial to the City." Thanks, again, for your consideration of this Bill as substituted. Si erely, jr~ ~~ Aladean M. DeRose Chief Assistant City Attorney AMD/cw cc: Catherine Fanello Kathleen Cekanski-Farrand Gi+iCB Filed In ~1nr'a'~ _ . ,, ~`C n ~_----°- _ ..,. THOMAS L. BODNAR CHERYL A. GREENS ANN-CAROL NASH JEFFREY M. JANKOWSKI LAWRENCE J. METENER JEFFREY L. SANFORD JOHN E. BRODEN