HomeMy WebLinkAbout2001-OR-03ORDINANCE NO. 2001-OR- (3 ~ -
AN ORDINANCE AUTHORIZING THE JEFFERSONVILLE
DEPARTMENT OF REDEVELOPMENT TO BORROW FUNDS
FROM THE CITY OF JEFFERSONVILLE
MUNICIPAL SEWER FUND
WHEREAS, the Jeffersonville Department of Redevelopment (the
"Department") has the opportunity to develop the property known as the
"Quadrangle";
WHEREAS, the necessary environmental study and initial
development costs will require up to $100,000.00; and
WHEREAS, the Department does not currently have sufficient funds
to finance the environmental study and initial development costs; 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
$100,000.00.
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
$100,000.00 is hereby approved.
NOW, THEREFORE, BE IT FURTHER ORDAINED that the
Jeffersonville Sanitary Board must approve the mount and the date of the
transfer of any monies pursuant to this Ordinance from the Jeffersonville
Municipal Sewer Fund to the Department.
This Ordinance shall be in full force and effect from and after its
passage and approval.
Passed this 22.
ATTEST:
day of January 200L /q
( (h;m//m/asC~. Galligan
Presiding Officer
Peggy°~lder, Clerk/Treasurer
Presented by me as Clerk/Treasurer to the Mayor of the City of
Jeffersonville, Indiana, this ~ day of January 2001.
fieggyO0~i4der, Clerk/Treasurer
This Ordinance approved and signed by me this
January 2001.
day of
· iii
Mayor
MSLegal\Ordinance\Approving DOR to Borrow Sewer Funds re Quartermaster.doe