HomeMy WebLinkAbout1998-OR-22ORDINANCE NO. 98-OR-~,,~
ORDINANCE ESTABLISHING A NON-REVERTING FUND
FOR THE CARNEGIE LIBRARY
VVHEREAS, the City of Jeffersonville ("the City") has purchased the Carnegie
Library; and
WHEREAS, the City has received a grant of One Hundred Forty Thousand
Dollars ($140,000.00) from the State of Indiana Build Indiana Fund ("the Grant")for
the purpose of repairing the Carnegie Library; and
WHEREAS, the City has let contracts to provide the necessary repairs to the
Carnegie Library; and
WHEREAS, the State of Indiana is beginning to fund the City's draws upon
the Grant; and
WHEREAS, in order to disburse the Grant, the Common Council of the City of
Jeffersonville ("the Council") must create a non-reverting fund into which the Grant
funds may be deposited;
NOW, THEREFORE, BE IT ORDAINED by the Common Council of the City
of Jeffersonville, Indiana that the Carnegie Library Non-reverting Fund is hereby
established for the purpose of receiving, holding, and disbursing the Grant as well
as any other donations the City receives for the purpose of repairing and
rehabilitating the Camegie Library. Monies from the Carnegie Library Non-reverting
Fund shall be used only for the purpose of repairing and rehabilitating the Carnegie
Library, and monies shall be expended from this fund only upon the filing of a proper
claim in issuance of a warrant for payment by the Clerk-Treasurer after approval by
the Common Council of the City of Jeffersonville. All monies received from the
Grant as well as any other donations the City receives for the purpose of repairing
and rehabilitating the Carnegie Library shall hereafter not be required to be received
into the general fund of the City, but shall be deposited into this non-reverting fund.
This non-reverting fund shall terminate upon the City's sale or other disposal of the
Carnegie Library to any other party. Any monies remaining in the fund at its
termination shall accrue to the General Fund.
This Ordinance shall be in full force and effect from and after its passage and
approval.
Passed and adopted this _~'~day of ,~/)'~ , 1998,
Presiding Officer
ATTEST:
.~. Presented by me a/s Clerk -Treasurer to the Mayor of said City of Jeffersonville this
day of /¢)¢.4~-~..~ , 1998.
1998.
C. Richard Spence~Jr.
Clerk and Treasurer
This Ordinance approved and signed by m this ~'~-~day of