HomeMy WebLinkAbout1989-OR-09ORDINANCE NO. 89-OR-
WHEREAS, the Clerk-Treasurer of the City of jeffersonville
advises that the Cumulative Capital Development Fund as
established within this political subdivision is a depleted
fund at the current time, and will remain as such until the May
tax distribution from Clark county; and
WHEREAS, it is now necessary to expend funds budgeted to
the Cumulative Capital Development Fund in order to finance the
vehicle purchases within the jeffersonville Police Department,
and the jeffersonville Fire Department; and
WHEREAS, it has further been brought to the attention of
the Common Council that the jeffersonville Wastewater Treatment
Plant's cash operating account currently has a surplus which
would be available pursuant to the provisions of I.C. 36-1-8-4
for a temporary transfer to the depleted fund in order the
enhance the Cumulative Capital Development Fund.
NOW, THEREFORE, BE IT ORDAINED by the Common Council of
the city of jeffersonville as follows:
1. That the sum of $40,000.00 shall be transferred from
the operating cash balance of the jeffersonville
Wastewater Treatment Plant to the Cumulative Capital
Development fund as established by this body.
2. That the jeffersonville Wastewater Treatment Plant
shall carry this loan as an account receivable until
repayment of the same. '
3. That the full amount~ of this transfer shall be repaid
into the Cash Operating Account of the jeffersonville
Wastewater Treatment Plant no later than June of
1989, and as soon as practicable after the first tax
distribution by Clark County in 1989.
4. That the Clerk-Treasurer of the City of
jeffersonville shall effect this transfer by issuing
a warrant and receipt for the amount of such
transfer. The warrant shall be endorsed and
deposited in the Depository Account designated for
the depleted fund. No interest shall be charged on
this transfer, and no appropriation shall be required
either for the transfer or for the repayment hereof.
This ordinance shall be in full force and effect upon its
timely passage, promulgation and approval by the Mayor.
Passed and adopted by the common Council of the City of
Clark County, Indiana, on the .~da¥ of
jeffersonville,
1989.
PRESIDENT, cOMMON COUNCIL
ATTEST:
Presented by me as Clerk-Treasurer to the Mayor of said
City of jeffersonville this ~ day of ~~--~'
1989.
This ordinance
day of ~.
approved and signed by me this
., 1989.