HomeMy WebLinkAbout2018-OR-73 ORDINANCE NO. 2018-OR- ' '
AN ORDINANCE ESTABLISHING A NON-REVERTING LOCAL FUND
CALLED "CHAPEL LAKE PARK NON-REVERTING FUND"
WHEREAS, the City Council is the fiscal body of Jeffersonville, Indiana
pursuant to Indiana Code;
WHEREAS, the City desires to complete the project known as Chapel Lake
Park; and,
WHEREAS, it is necessary for the City to fund the design, construction
and completion of Chapel Lake Park from various revenue sources including
the General Fund, Parks Department and the Redevelopment Department;
and,
WHEREAS, it is economically desirable to create a non-reverting fund for
deposit, expenditure and disbursement of funds designated for the construction,
design and completion of Chapel Lake Park.
NOW, THEREFORE, BE IT ORDAINED by the Common Council of the
City of Jeffersonville, Indiana, as follows:
1. That a special non-reverting operating fund is hereby established for the
purpose of receiving and holding funds for the construction, completion,
expansion and improvements of Chapel Lake Park. This fund shall be
entitled "The Chapel Lake Park Project Non-Reverting Fund" and
monies may be expended from this fund only upon the filing of a proper
claim in issuance of a warrant for payment by the Controller after
appropriation and approval by the Common Council. Hereafter, the
Controller shall not deposit funds for the construction, expansion and
completion of the Chapel Lake Park Project, regardless of the revenue
source, into the City's General Fund, but shall deposit those revenues into
"The Chapel Lake Park Project Non-Reverting Fund".
2. That the Common Council is hereby required to use the Non-Reverting
Fund to the extent and in the manner allowed by law and ONLY costs and
expenditures directly related to Chapel Lake Park project.
This Ordinance shall be in full force and effect from and after its passage and
approval.
Passed and adopted this day of Decer,a.e� , 2018.
ct
Lisa GI
Presiding Officer
/
ST:
Vicki Conlin
Clerk
`t Presented by me as Clerk to the Mayor of said City of Jeffersonville this
day of be,7r -, 2018.
•Vicki Conlin
Clerk
This Ordinance approved and signed by me thi r ay of
2018.
•ke Moore, ayor