04-28-99 Council Meeting Minutes

Home Browse Search

REGULAR MEETING APRIL 28. 1999 bill, Councilmember Kelly made a motion to adopt this Resolution. Councilmember King seconded the motion which carried and the Resolution was adopted by a roll call vote of nine (9) ayes. RESOLUTION NO. 2730 -99 A RESOLUTION AUTHORIZING THE TEMPORARY TRANSFER OF IDLE FUNDS OF THE CITY OF SOUTH BEND, INDIANA, FROM THE SEWAGE WORKS OPERATION AND MAINTENANCE FUND TO OTHER SEWAGE FUNDS WHEREAS, it is necessary to provide funds for the Sewage Works Insurance Fund and the Sewer Repair Fund in order to meet the current operating expenses of each respective insurance program; and WHEREAS, there are monies on deposit to the credit of the Sewage Works Operation and Maintenance Fund, which can be temporarily advanced or transferred to the aforementioned funds; 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 $280,000 to various funds from the Sewage Works Operation and Maintenance Fund. Any such transfers made must be repaid by December 31, 1999. FROM: MAXIMUM Sewage Works $280,000.00 Operation and Maintenance Fund TOTAL $280,000.00 TO MAXIMUM Sewage Works $200,000.00 Insurance Fund Sewer Repair Fund $ 80,000.00 $280,000.00 Section II. Such transfer shall be made for a period of time not to extend beyond December 31, 1999, and any funds so transferred shall be returned and repaid to the Sewage Works Operation and Maintenance Fund. 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 /Sean Coleman Member of the Common Council Council Member Aranowski reported that the Personnel & Finance Committee met on this bill and sends it to the Council with a favorable recommendation. Mr. Ronald M. O'Connor, Director of City Finance, Department of Administration and Finance, 12th Floor, County -City Building, South Bend, Indiana, made the presentation for this bill. Mr. O'Connor stated that this Resolution concerns the transfer of money between operational funds for seasonal expenses. This being the time heretofore set for the Public Hearing on the above bill, proponents and opponents were given an opportunity to be heard.