HomeMy WebLinkAbout2011-OR-66 BY THE COMMON COUNCIL FOR THE
CITY OF JEFFERSONVILLE, INDIANA
ORDINANCE NO. 2011- LL
AN ORDINANCE CREATING A NON - REVERTING FUND
FOR THE PURPOSE OF COMPLETING PENDING CITY PROJECTS
WHEREAS, Ind. Code § 36- 4 -6 -18 empowers the Common Council to pass ordinances,
orders, resolutions, and motions for the government of Jeffersonville, the control of
Jeffersonville's property and finances, and the appropriation of money for Jeffersonville; and
WHEREAS, certain projects for the benefit of the City have been planned, designed,
and /or begun and are at various stages of completion and the Common Council wishes to carry
the projects forward to completion; and
WHEREAS, the Jeffersonville Redevelopment Commission has participauxl in the
discussions, planning and/or designing of such projects; and
WHEREAS, the Redevelopment Commission desires for such projects to be carried to
completion; and
WHEREAS, the Redevelopment Commission intends to help fund the design,
construction and/or completion of such projects by transferring TIF funds from the
Redevelopment Commission to the City into a non - reverting fund which is to be used for the sole
purpose of completing the projects and which is to be under the under the exclusive control of
the Common Council to carry out the completion of the said projects; and
WHEREAS, it is economically desirable to create a fund for the revenues collected and
applied to the claims for the costs of materials and labor for fuel and equipment repairs.
NOW, THEREFORE, BE IT ORDAINED by the Common Council for the City of
Jeffersonville, Indiana, ( "the Council ") as follows:
1. A non - reverting fund shall be, and is hereby, established for the purpose of paying
claims from monies received from the Jeffersonville Redevelopment Commission to
complete projects to be identified by the Jeffersonville Redevelopment Commission
prior to December 31, 2011.
2. The fund shall be titled "2011 Projects Fund" and shall be assigned Fund No. 251 in
compliance with Indiana State Board of Accounts rules, regulations, requirements or
guidance, and shall be established with four separate and distinct non - transferrable
and non - reverting line items, one for each of the up to four projects set forth in
paragraph 1. Funds allocated or transferred to each line item of the 2011 Projects
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Fund shall be used solely to complete the project for which they were allocated,
except that any funds Left over after the completion of one project may be transferred
into a different Zinc item within the 2011 Projects Fund for use toward the completion
of any of the other remaining projects named herein that are not yet completed and
which are in need of additional funding to be completed.
3. The non - reverting fund shall continue until such time as each of the projects has been
completed, and any funds remaining at the completion of all projects shall revert back
proportionally to the Jeffersonville Redevelopment Commission TIP funds from
which the funds originated.
4. The monies within the fund may be expended only upon the filing of a properly
authorized claim and issuance of a warrant for payment by the Fiscal Officer after
appropriation by the City Council.
5. The funds within the 2011 Projects Fund shall only be used to the extent and in the
manner allowed by law.
This Ordinance shall be in full force and effect from and after its passage and approval by
the common Council of the City of Jeffersonville, Indiana.
VOTED FOR: VOTED AGAINST:
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Peggy Wilder, Clerk Treasurer
Presentgd by me as Clerk and Treasurer to the Mayor of said City of Jeffersonville this
1. day of Treasurer_
to
, 2011 at o'clockt.m.
P e I T Treasurer
This Ordinance approved and signed by me this e day of �?�_ ,
2011.
A / )9 i ce ,
omas Galligan, Ma or
ATTEST:
Pegg !der, Clerk Treasurer
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