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05-13-96 Council Meeting Minutes
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05-13-96 Council Meeting Minutes
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City Council - City Clerk
City Council - Document Type
Council Mtg Minutes
City Counci - Date
5/13/1996
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REGULAR MEETING <br />MAY 13, 1996 <br />SECTION IV. The Common Council determines that such <br />designation is for personal property tax abatement only and shall <br />be limited to two (2) calendar years from the date of the <br />adoption of this Resolution by the Common Council. <br />SECTION V. The Common Council hereby determines that the <br />property owner is qualified for and is granted property tax <br />deduction for a period of five (5) years. <br />SECTION VI. The Common Council directs the City Clerk to <br />cause notice of the adoption of this Declaratory Resolution to be <br />published pursuant to Indiana Code 5 -3 -1, said publication <br />providing notice of the public hearing before the Common Council <br />on said declaration. <br />SECTION VII. This resolution shall be in full force and <br />effect from and after its adoption by the Common Council and <br />approval by the Mayor. <br />/s/ Roland Kelly <br />Member of the Common Council <br />A public hearing was held on the resolution at this time. <br />Council Member Coleman reported that the Community and Economic <br />Development Committee had met on this bill and recommended it to <br />the Council favorable. Mike Wojysiak, CPA, made the presentation <br />for the resolution. He indicated they planned to purchase <br />machinery which will allow them to move into new markets. He <br />reported that the estimated cost of the new machinery and <br />equipment is $477,300. Council Member Zakrzewski made a motion <br />to adopt this resolution, seconded by Council Member Coleman. <br />The resolution was adopted by a roll call vote of nine ayes. <br />RESOLUTION NO. 2357 -96 A RESOLUTION AUTHORIZING THE TEMPORARY <br />TRANSFER OF IDLE FUNDS OF THE CITY OF <br />SOUTH BEND, INDIANA, FROM VARIOUS FUNDS <br />TO THE VARIOUS FUNDS WITHIN THE CIVIL <br />CITY OF SOUTH BEND, INDIANA. <br />It is necessary to provide funds for the General Fund, Park <br />Maintenance Fund, and Cumulative Capital Improvement Fund prior <br />to the receipt of taxes in the year 1996 in order to meet the <br />current operating expenses of the City, provided for in the <br />budget adopted for the year 1996. <br />There are monies on deposit to the credit of various funds <br />of the City, to -wit: The Liability Insurance Premium and Reserve <br />Fund, the Sewage Works Depreciation Fund, the Sewage Works <br />Operation and Maintenance Reserve Fund, which can be temporarily <br />advanced or transferred to the various funds already mentioned. <br />Indiana Code 36 -1 -8 -4 authorizes the Common Council of the <br />Civil City of South Bend, by Resolution adopted by such Council, <br />to advance and transfer to a depleted fund from any other such <br />fund, such amount and for such a period of time as may be <br />prescribed in the Resolution. <br />NOW, THEREFORE, BE IT ORDAINED by the Common Council of the <br />City of South Bend, Indiana as follows: <br />Section I. The City Controller of the City of South Bend is <br />authorized to transfer an aggregate amount not to exceed <br />$8,200,000 to various funds from various funds as listed below. <br />The aggregate amount of $8,200,000 to be distributed so as not to <br />exceed at any one time the maximum amounts as set forth below. <br />Any such transfers made must be repaid by December 31, 1996. <br />FROM: MAXIMUM TO: MAXIMUM <br />Liability Insurance $1,000,000 General Fund $7,000,000 <br />
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