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REGULAR MEETING JANUARY 10, 1983
<br />WHEREAS, a necessity exists to provide funds for the Corporation General, Park
<br />Maintenance, Police Pension, Fire Pension, Human Relations Fund prior to the receipts
<br />of taxes in the year 1983 in order to meet the current operating expenses of the
<br />City, provided for in the budget and appropriation adopted for the year 1983 which
<br />expenses must be met prior to the receipts of taxes and other revenues in the year
<br />1983; and
<br />WHEREAS, there are monies on deposit to the credit of various funds of the City,
<br />to wit: Cumulative Sewer Building and Sinking, Sewage Works Sinking, Sewage Works
<br />Depreciation, Water Works Depreciation, Cumulative Capital Improvement, Sewers Repair,
<br />and Liability Insurance and Reserve Funds which can be temporarily advanced or transferred
<br />to the various funds already mentioned; and
<br />WHEREAS, Indiana Code 36 -1 -8 -4 authorizes the Common Council of the Civil City
<br />of South Bend, by Resolution adopted by such Council, to advance and transfer to a
<br />depleted fund from any other such funds, such amount and for such a period of time as
<br />may be prescribed in the Resolution.
<br />NOW, THEREFORE, BE IT RESOLVED BY THE COMMON COUNCIL OF THE CITY OF SOUTH BEND,
<br />INDIANA:
<br />SECTION I. That the City Controller of the City of South Bend is authorized to
<br />transfer an aggregate amount not to exceed $4,605,000.00 to various funds from various
<br />other funds as listed below. The aggregate amount of $4,605,000.00 to be distributed
<br />so as not to exceed at any one time the maximum amounts as set forth below. Any such
<br />transfers made must be repaid by December 31, 1983.
<br />FROM: MAXIMUM
<br />Cumulative Sewer Building
<br />& Sinking Fund
<br />Sewage Works Sinking Fund
<br />Sewage Works Deprec. Fund
<br />Water works Deprec. Fund
<br />Cumulative Capital Improve -
<br />300,000 Prac.
<br />Sewer Repair Fund
<br />Liability In. & Prem. Fund
<br />TO: MAXIMUM
<br />$1,900,000
<br />Corporate General
<br />$3,500,000
<br />850,000
<br />Park Main. Fund
<br />600,000
<br />360,000
<br />Police Pen. Fund
<br />160,000
<br />250,000
<br />Fire Pension
<br />250,000
<br />Human Relations &
<br />Fair ment Fund
<br />Comm. Fund
<br />5,000
<br />125,000
<br />Cen. Center
<br />Oper. Fund
<br />90,000
<br />820,000
<br />$4,605,000
<br />$4,605,000
<br />SECTION II. Such transfer shall be made for a period of time not to extend
<br />beyond December 31, 1983, and such funds so transferred shall be returned and repaid
<br />to the original funds from which they are transferred.
<br />SECTION III. This Resolution shall be in full force and effect from and after
<br />its adoption by the Common Council and its approval by the Mayor.
<br />A public hearing was held
<br />indicated this resolution
<br />monies from various funds
<br />Council Member Crone made
<br />Zielinski. The motion ca:
<br />eight ayes.
<br />RESOLUTION NO. 1024 -83
<br />/s/ Beverlie J. Beck
<br />Member of the Common Council
<br />on the resolution at this time. Joseph Kernan, City Controller,
<br />is passed annually to permit the temporary borrowing of
<br />to cover operating expenses in various tax supported funds.
<br />a motion to adopt this resolution, seconded by Council
<br />cried and the resolution was adopted by a roll call vote of
<br />A RESOLUTION AUTHORIZING THE CONTROLLER OF THE CITY OF SOUTH
<br />BEND, INDIANA, TO INVEST CERTAIN IDLE FUNDS DURING THE YEAR
<br />1983 IN ACCORDANCE WITH IC 6 -13 -1. WHEREAS, there are certain
<br />idle funds of the Civil City of South Bend which may be
<br />invested for periods of time without affecting the operations
<br />of the various departments of the City, and;
<br />WHEREAS, IC 5 -13 -1 enables the Controller to invest such idle funds with the
<br />approval of the Common Council.
<br />NOW, THEREFORE, BE IT RESOLVED BY THE COMMON COUNCIL OF THE CITY OF SOUTH BEND,
<br />INDIANA:
<br />SECTION I. That during the calendar 1983, the Controller or his Chief Deputy
<br />invest certain idle funds of the Civil City of South Bend for such periods of time
<br />that he determines are not needed for the normal operations of the various departments
<br />of the Civil City.
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