11-14-05 Council Meeting Minutes

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REGULAR MEETINGNOVEMBER 14, 2005 Councilmember White made a motion to continue this bill until the November 28, 2005 meeting of the Council, at the request of the petitioner. Councilmember Varner seconded the motion, which carried by a voice vote of eight (8) ayes. RESOLUTION NO. 3534-05 A RESOLUTION OF THE SOUTH BEND COMMON COUNCIL AUTHORIZING THE TEMPORARY TRANSFER OF IDLE FUNDS FROM THE WATER WORKS GENERAL FUND (#620) TO THE WATER WORKS LEAK INSURANCE FUND (#644) WITHIN THE CIVIL CITY OF SOUTH BEND, INDIANA WHEREAS, it is necessary to provide funds for the Water Works Leak Insurance Fund No. 644, in order to meet the current operating expenses; and WHEREAS, there are idle funds on deposit to the credit of the Water Works General Fund No. 620, which can be temporarily advanced or transferred to the aforementioned fund; and WHEREAS, Indiana Code 36-1-8-4 authorizes the Common Council of the 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 as follows: SECTION I. The City Controller of the City of South Bend is authorized to transfer an aggregate amount not to exceed $130,000.00 from the Water Works General Fund No. 620 to the Water Works Leak Insurance Fund No. 644. Any such transfers must be repaid by December 31, 2006. FROM MAXIMUM TO Water Works General Fund No. 620 $130,000.00 Water Works Leak Insurance Fund No. 644 SECTION II. Such transfer shall be made for a period of time not to extend beyond December 31, 2006, and any funds so transferred shall be returned and repaid to the Water Works General Fund No. 620. 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. s/Charlotte D. Pfeifer Member of the Common Council Councilmember Timothy A. Rouse, Vice-Chairperson, Utilities Committee, reported that this committee held a Public Hearing on this bill this afternoon and sends it to the full Council with a favorable recommendation. Mr. John Stancati, Director, South Bend Water Works, 209 N. Main Street, South Bend, Indiana, made the presentation for this bill. Mr. Stancati advised that this bill would allow for the special appropriation of $130,000.00 from the General Fund (#620) for transfer to the Water Works Leak Insurance Fund (#644). The original request of $260,000.00 was made for the year 2005. The fund did reimburse the Water Works $130,000.00, and a balance of $130,000.00 will 36