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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