HomeMy WebLinkAboutRegarding use of surplus bond proceeds and/or earninga form the city Park district Bonds of 1982ORDINANCE No.
Passed by the Common Council of the City of South Bend, Indiana
8856-97
December 8, 19 ~~
Attest:
Attest:
City Clerk
President of Common Council
Presented by me to the Mayor of the City of South Bend, Indiana
December 9, 19 97
City Clerk
Approved and signed by me
December 10,
19 97
Mayor
ORDINANCE NO . ~~~
AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY OF SOUTH
BEND REGARDING USE OF SURPLUS BOND PROCEEDS AND/OR
EARNINGS FROM THE CITY OF SOUTH BEND PARK DISTRICT BONDS OF 1982
STATEMENT OF PURPOSE AND INTENT
The Common Council of the City of South Bend has made the
following determinations:
1. The City of South Bend previously issued its Park
District Bonds of 1982 (Bonds), the proceeds of which were used
to fund various improvements; and
2. The purpose for which the Bonds were issued has been
accomplished and completed; and
3. The Bonds have been paid in full; and
4. A surplus of $15,368.35 exists in the City bond trustee
account and a surplus of approximately $3,871.54 exists in the
Park District Bond (Fund 302)(collectively referred to as "the
Funds") from the proceeds and/or investment earnings of the
Bonds; and
5. I.C. 5-1-13 allows for the expenditure of surplus bond
proceeds or investment earnings for the same purpose or type of
project for which the bonds were originally issued upon:
a. the certification of the fiscal officer before or at
the time of that use that the surplus was not
anticipated at the time of issuance of the bonds; and
b. action of the legislative body responsible for issuing
the bonds approving the use of surplus bond proceeds or
investment earnings for the same purpose or type of
project for which the bonds were originally issued;
and;
6. The City Controller has made certifications regarding
surplus monies in the Funds, a copy of which certification is
attached hereto; and
7. The Common Council of the City of South Bend deems it
advisable to use said surplus for park maintenance.
NOW, THEREFORE, BE IT ORDAINED BY THE COMMON COUNCIL OF THE
CITY OF SOUTH BEND, INDIANA, AS FOLLOWS:
Section 1. That the determinations set forth in the
certifications of the Controller are hereby approved.
Section 2. That the Common Council of the City of South
Bend hereby approves the use of said surplus in the Funds for
park maintenance, and hereby approves the deposit and/or transfer
of the Funds to the_Park Maintenance Fund (Fund 201).
Section 3. That the Park District Bond Fund (302) be
closed.
Section 4_. This Ordinance shall be in full force and effect
from and upon its adoption by the Common Council and approval by
the Mayor.
1st READING /r~~ ,. ~7
PU6LlC NEARING ~~ ,~,d /(((
rd READING 7 7 Member, South Bend Common ouncil
~'OT APPROVED
'EFERRED
t \SSED I~ .-~ .~ ~ '~
COMMITTEE REPORT
TO THE COMMON COUNCIL OF THE CITY OF SOUTH BEND:
Your Committee of the Whole, to whom was referred
BILL NO.
116-97 A BILL OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND
REGARDING USE OF SURPLUS BOND PROCEEDS AND/OR EARNINGS
FROM THE CITY OF SOUTH BEND PARK DISTRICT BONDS OF 19$2
Respectfully report that they have examined the matter and that in their opinion, this bill
has been recommend to the Council favorably.
Sean Coleman
Chairman
The undersigned, the duly acting Controller of the City of
South Bend, Indiana, hereby certifies as follows:
1. A surplus exists from the proceeds and investment
earnings on the proceeds of the Park District Bonds of 1982
(Bonds) .
2. The purpose for which the Bonds were issued has been
completed.
3. The Bonds have been repaid in full.
4. There remains on deposit a surplus of $15,368.35 in the
City bond trustee account and a surplus of approximately
$3,871.54 in the Park District Bond (Fund 302).
5. Said surplus was not anticipated at the time of the
issuance of the Bonds.
WITNESS my hand this ~ 3 day of ~`~-'~ ~, 1g97 .
M, a ~erine Roeme
COUNTY-CITY BUILDING
SOUTH BEND, INDIANA 46601-1830
PHONE 219/235-9216
Fax 219/235-9928
TDD 219/235-5567
CITY OF SOUTH BEND STEPHEN J. LUECKF., MAYOR
DEPARTMENT OF ADMINISTRATION AND FINANCE
M. CATHERINE ROEMER
CITY CONTROLLER
November 17, 1997
Mr. Roland Kelly, President
South Bend Common Council
4th Floor, County-City Building
South Bend, IN 46601
Re: An Ordinance of the Common Council of the City
of South Bend Regarding Use of Surplus Bond
Proceeds and/or Earnings From the City of
South Bend Park District Bonds of 1982
Dear President Kelly:
Attached for filing is an ordinance regarding the use of
surplus bond proceeds and/or earnings from the City's Park District
Bonds of 1982 and to transfer the surplus funds into the Park
Maintenance Fund. The purpose for which the Bonds were issued has
been accomplished, and the Bonds have been paid in full.
Please feel free to contact me if you have any questions or
comments with regard to this ordinance.
Your favorable consideration is requested.
Sincerely,
~~I 9.
Kay J. Pola
Director of
KJP/jl
Attachment
P~_
City Finance
Filed in ci~ri:'~ O~~ice
~10~.1 ~9 1997
LOAETf SO OfiND, lN.
CITY CLEAR,
CATHERINE A. HUBBARD-SHEAU KAY ]. POLA THOMAS SKARBEK ISABEL GON7.ALEZ ROBERT ALLEN
DIREC70R DIRECTUR DIRECTOR DIRECTOR DIRECTOR
H U~1AN RESOURCES Cl"EY FIKA\CE BUDGETING Si FIKAKCIAI. REPORTIKG SAFETY bT RISK MANAG Eb1 F.NT IKEOR~fATION TECHNOLOGY