HomeMy WebLinkAbout2004-OR-572004-OR-57
AMENDMENT TO ORDINANCE NO.
WHEREAS, the Common Council of the City of Jeffersonville ( City ) prewously found
that an emergency existed for the borrowing of money with which to meet the expenses of said
City that will be incurred in 2004 to be Paid from the City General Fund of said City, which
expenses must be met prior to the receipt of the final settlement and distribution of taxes for the
year 2003, collectible in the year 2004 and thereafter, and
WHEREAS, on August 16, 2004, the Clerk-Treasurer presented to the Common Council
a recommendation that the City issue a temporary loan in the amount of $4,000,000 for the City
General Fund, and
WHEREAS, the Common Council adopted an Ordinance authorizing the issuance of an
additional $4,000,000 payable from the City General Fund, and
WHEREAS, it has become necessary for the borrowing to include additional funds of the
City.
NOW, THEREFORE, BE IT AND IT IS HEREBY RESOLVED by the Common
Council of the City of Jeffersonville, Indiana ("City"), that the temporary loan previously
approved for and on behalf of the City General Fund in the aggregate amount of $4,000,000 may
be issued instead on one or more funds of the City to the extent those funds have property tax
collections outstanding. The loans shall be used for meeting expenses of the City included in the
regular budget and appropriations adopted for the year 2004, which expenses must be met prior
to the receipt of the final settlement and distribution of taxes for the year 2004. Upon delivery of
warrants on a fund of the City, the liens described in the Ordinance adopted on August 16, 2004,
shall apply to such fund to the extent of the amount of its corresponding warrant. The total
amount of the warrants authorized hereunder shall not exceed the originally designated
$4,00O,0OO.
The ordinance adopted on August 16, 2004 shall otherwise remain in full force and
effect.
CITY OF JEFFEKSONVILLE, INDIANA
Introduced by: ., Councilmember
Passed in open Council this 20th day of September, 2004.
President
City Council
Attest:
~d I t2~J2.~ ) . .~ Clerk-Treasurer
City ~ J~ffersonville, Indiana
Presented by me to the Mayor this I__~ . day of S~p,c.-'-~ke~, ,2004.
By: '~ Z~ ~'~")
¢-i ¢c'ancil
Approved by me} the Mayor, this ~] ~ . day °f S~ ._~/~,. Mayor
Attest: ., Clerk-Treasurer