HomeMy WebLinkAbout2004-R-02Resolution Nol 2004-R-02
BEFORE THE JEFFERSONVILLE DRAINAGE BOARD
STATE OF INDIANA
A Resolution Authorizing Temporary Loan
to City General Fund PUrsuant to I.C. 36-1-8-4
WItEREAS, the Jeffersonville Drainage Board (hereinafter called the "Board;') is
a municipal utility as defined by Indiana law;
WltEREAS, the Board has received request from the City Council that an
emergency exist and it has become necessary tb borrow money from the City of
Jeffersonville Drainage Fund in anticipation of taxes levied and to be collected in 2004;
WHEREAS, I.C. 36-1-8-4 authorizes temporary loans from municipal utilities;
WHEREAS, them is sufficient monies within the Drainage Fund to make a loan;
NOW, THEREFORE, BE IT REsoLvED, by the Board that it hereby
authorizes a loan in an amount not to exceed $500,000, as long as there is sufficient funds
available, to made from the Drainage Fund to the General Fund, which shall be re-paid
no later than December 31, 2004.
This Resolution shall be in full .force and effect after its passage and
approval.
So passed and adopted this '~'\ day of
2004 by the Jeffersonville Drainage BOard.
Chairman, Drainage P~ard
Attest
S%cretary, Drainage Board
Prepared by:
Leslie D. Merkley
City Attomey