HomeMy WebLinkAbout2007-OR-56A
ORDINANCE NO. 2007-0R-56
AN ORDINANCE AUTHORIZING THE CITY OF JEFFERSONVILLE CIVIL CITY TO
BORROW FUNDS FROM THE CITY OF JEFFERSONVILLE SEWAGE FUNDS
WHEREAS, an emergency now exists and it has become necessary for the City of
Jeffersonville Civil City to borrow money from the City of Jeffersonville Sewage Fund in
anticipation of taxes levied and to be collected in 2008.
WHEREAS, Indiana Code 36-1-8-4 authorizes temporary loans from municipal utilities.
WHEREAS, there is now within the Sewage Fund sufficient moneys to allow this loan.
NOW, THEREFORE, BE IT ORDAINED by the Common Council of the City of
Jeffersonville, Indiana, that a temporary loan of $1,500,000.00 be approved. The
Jeffersonville Sanitary Sewer Board must approve the amount and date of transfer. All
monies will be repaid on or before November 15, 2007.
This ordinance shall be in full force and effect upon its adoption.
SO ORDAINED on this // t.~ day of (J (1. ~-;'
/
COMMON COUNCIL OF THE CITY OF JEFFERS<6NVIL ,I
By: {.... ,
Robert WaiZy Presiding Officer
ATTEST: ..
~.~
Peggy Wi~lerk Treasurer
Presented by Peggy Wild~Clerk and Treasu~h to,the Mayor of said City of
Jeffersonville on this! day of (]2c~ ,2007.
I -{ ~ , 2007.