HomeMy WebLinkAbout2000-OR-07ORDINANCE NO. 2000-OR- ~-/
AN ORDINANCE AUTHORIZING THE JEFFERSONVILLE
DEPARTMENT OF REDEVELOPMENT TO BORROW FUNDS
FROM THE CITY OF JEFFERSONVILLE MUNICIPAL SEW-ER
FUND
WHEREAS, the Jeffersonville Department of Redevelopment (the
"Department") has the opportunity to purchase several blighted residences in
the 300 block of Pearl Street; and
WHEREAS, the purchase of the blighted residences will require up to
$200,000.00; and
WHEREAS, the Department does not currently have sufficient funds
to purchase the blighted residences; and
WHEREAS, Indiana Code 36-1-8-4 authorizes temporary loans from
municipal utilities; and
WHEREAS, there is now within the Jeffersonville Municipal Sewer
Fund sufficient moneys to allow a temporary loan to the Department of up to
$200,000.00.
NOW, THEREFORE, BE IT ORDAINED by the Common Council
of the City of Jeffersonville, Indiana, that a temporary loan from the
Jeffersonville Municipal Sewer Fund to the Department of up to
$200,000.00 is hereby approved.
NOW, THEREFORE, BE IT FURTHER ORDAINED that the
Jeffersonville Board of Public Works and Safety must approve the amount
and the date of the transfer of any monies pursuant to this Ordinance from
the Jeffersonville Municipal Sewer Fund to the Department.
Passed and adopted by the Common Council of the City of Jeffersonville, Clark
County, Indiana. onthe ~°o~0dayof ~f-fqaX~x~ ,2~900//
· [. /TH'{)MAS R:~AI~LIG~ ~/
PRESIDING OFFICERt-/
ATTEST:
PEGG~ ~VLDER.
CLERK AND TREASURER
Presented by me as Clerk and Treasurer to the Mayor of Said City of
Jeffersonville this ~} day of /5~6 LII fl [¥ ,2000.
2000.
_
P~GGY~DER.
CLERK AND TREASURER
This Ordinance approved and signed by me this ~q~ day of ff~ffl fllLt/ ,
MAYOR
AMENDMENT TO ORDINANCE NO. 2000-OR-07 AUTHORIZING THE
JEFFERSONVILLE DEPARTMENT OF REDEVELOPMENT TO BORROW FUNDS
FROM THE CITY OF JEFFERSONVILLE MUNICIPAL SEWER FUND
**(INSERT THE FOLLOWING PARAGRAPHS AFTER THE FOURTH PARAGRAPH OF
ORDINANCE NO. 2000-OR-07):
WHEREAS, the Common Council of the City of Jeffersonville has determined that an
emergency exists that requires an extension of the prescribed period of transfer under I.C. 36-1-8-4;
and
WHEREAS, the emergency consists of purchasing blighted property in the 300 block of Pearl
Street that is expected to become available beyond the prescribed period of transfer; and
WHEREAS, the Common Council of the City of Jeffersonville believes an emergency exists
in that without an extension of the prescribed period these blighted properties may not be available
for purchase for the purposes of redevelopment; and
WHEREAS, the temporary loan of money shall be repaid to the Jeffersonville Municipal
Sewer Fund no later than June 30, 2001 which is not more than six (6) months beyond the budget
year in which the transfer occurs; and