HomeMy WebLinkAbout2002-OR-36 ORDINANCE NO. 2002-OR- 36
AN ORDINANCE AUTHORIZING ~ CITY OF JEFFERSONVILLE
HEALTH INSURANCE FUND 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 Health Insurance Fund to borrow money fi.om the City of Jeffersonville
Sewage Fund in anticipation of taxes levied and to be collected in 2003.
WHEREAS, Indiana Code 36-1-8~4 authorizes tempormy loans fi.om 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 $500,000 be approved. The Jeffersonville
Sanitary Sewer Board must approve the amount and date of transfer. All monies will be
repaid on or before June 30, 2003.
This ordinance shall be in full force and effect upon its adoption.
SO ORDAINED on this ~ dayof
~Tho/fias R. Galligan, Pre(~idifig?fficer
ATTEST:
ilder, Clerk-Treasurer
Presented by Peggy Wilder, Clerk and Treasurer to the Mayor of said City of Jeffersonville on
this \ E~ day of~ 2002.
Peggy ~/¢il&~, ~]erk and Treasurer
This Ordinance approved and signed by me this
~/ dayof )//~f,O,~5'~ ,2002.
omas R. ~lli~yor