HomeMy WebLinkAbout2004-OR-58ORDINANCE NO. 2004-OR- 58
AN ORDINANCE AUTHORIZING THE CITY OF JEFFERSONVILLE
GENERAL FUND TO BORROW FUNDS FROM THE
CITY OF JEFFERSONVILLE DRAINAGE FUNDS
WHEREAS, an emergency now exists and it has become necessary for the City of
leffersonville General Fund to borrow money from the City of Jeffersonville Drainage
Fund in anticipation of taxes levied and to be collected in 2004.
WHEREAS, Indiana Code 36-1-8-4 authorizes temporary loans from municipal utilities.
WHEREAS, there is now within the Drainage 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 Jeffersonvitte
Drainage Board must approve the amount and date of transfer. All monies will be repaid
on or before December 31, 2004
This ordinance shall be in full force and effect upon its adoption.
SO ORDAINED on this ~_.iD_ .day of~4.
COMMON COUNCIL OF THE CITY OF JEFFERSONVILLE,~D~A,~
ST:
~ Wilder. Clerk-Treasurer
Presented by Peggy Wilder,...Clerk and Treasurer to the Mayor of said City of Jeffersonville on
this ~2-[ day of c~,~:~.~.~ 004 ·
This Ordinance approved and signed by me this
Waiz, Jr., Mayor