HomeMy WebLinkAboutAuthorizing temporty transfer of idle fundsRESOLUTION
NO. 852 -81
Passed by the Common Council of the City of South Bend, Indiana
January 26, 19 81
Presented by me to the Mayor of the City of South Bend, Ind'ana
Approved and signed by
City Clerk
January 27, �9 81
e
Of Common Council
19 —L
Clerk
RESOLUTION NO.(
_A_RE SOLUTION AUTHORIZING THE TEMPORARY TRANSFER OF
IDLE,FUNDS OF THE CITY OF SOUTH BEND, INDIANA, FROM
THE CUMULATIVE SEWER BUILDING AND SINKING FUND,
FEDERAL ASSISTANCE GRANT FUND, WASTEWATER DEPRECIATION
FUND, WATER WORKS DEPRECIATION FUND AND WASTEWATER
SINKING FUND, TO THE CORPORATION GENERAL, PARK
MAINTENANCE, POLICE.PENSION, FIRE PENSION AND HUMAN
RELATIONS AND FAIR EMPLOYMENT PRACTICES COMMISSION
FUNDS AND CENTURY CENTER OPERATIONS FUND, ALL FUNDS
BEING WITHIN THE CIVIL CITY OF SOUTH BEND, INDIANA.
WHEREAS, a necessity exists to provide funds for the Corpora-
tion General, Park Maintenance., Police Pension, Fire Pension, Human Relations
and Fair Employment Practices Commission and Century Center Operations
Fund prior to the receipts of taxes in the year 1981 in order to meet
the current operating expenses of the City, provided for in the budget
and appropriation adopted for the year 1981 which expenses must be met
prior to the receipts of taxes and other revenues in the year 1981 and
WHEREAS, there are monies on deposit to the credit of various
funds of the City, to wit: Cumulative Sewer Building and Sinking, Federal
Assistance Grant, Wastewater Sinking, Wastewater Depreciation and Water
Works Depreciation Funds which can be temporarily advanced or transferred
.to the various funds already mentioned, and
WHEREAS, Indiana Code 19- 11 -2 -1 and 19- 11 -2 -2 authorize 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 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 $4,310,000.00
to various funds from various other funds as listed below. The aggregate
amount of $4, 310,000.00 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, 1981.
FROM: MAXIMUM TO: MAXIMUM
Cumulative Sewer
Building & Sinking Fund $1,900,000.00 Corporation General $3,400,000.00
Federal Assistance Park Maintenance
Grant Fund $1,300,000.00 Fund $ 500,000.00
Wastewater Sinking Police Pension Fund $ 150,000.00
Fund $ 500,000.00
Fire Pension Fund $ 150,000.00
Wastewater Depreciation
Fund $ 360,000.00
Water Works Depreciation
Fund $ 250,000.00
$4,310,000.00
Human Relations $
Fair Prac. Comm. Fund $ 20,000.00
Century Center
Operations Fund $ 90,000.00
$4,310,000.00
SECTION II. Such transfer shall be made for a
period of time not to extend beyond December 31, 1981, and such funds
so 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
its approval by the Mayor.
ember f the Common Co it
FILED 11-1 Cl 'S OFFICE
J,kfll2 11931
PRESENTED %`'� Irene Gam's on
r, {n CLFRK, SOL 14 FEND. IND.
NOT APPROVED
ADOPTED