HomeMy WebLinkAboutD-2376-17 Additional Approp of $3,300,000 from the Rainy Day Fund for River Road Construction Phase IISPONSOR: Councilor Finkam
ORDINANCE NO. D-2376-17
AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY OF
CARMEL, INDIANA, AUTHORIZING AND APPROVING AN
ADDITIONAL APPROPRIATION OF FUNDS FROM THE
OPERATING BALANCE OF THE RAINY DAY FUND
Synopsis: An additional appropriation of $3,300,000 from the Rainy Day Fund that will be used
to pay for River Road Construction Phase II.
WHEREAS, in order to immediately begin the River Road Construction Phase R project (the
"Project'), it is necessary that money is appropriated for the Project;
WHEREAS, although the Project will ultimately be paid for with funds from upcoming bonds,
it would expedite the Project if monies were appropriated from the Rainy Day Fund that would enable
the City to get the Project underway, prior to having the bond funding in place; and
WHEREAS, the City of Carmel Rainy Day Fund (Fund 912) (the "Rainy Day Fund") has
excess funds in the amount of at least Three Million Three Hundred Thousand Dollars ($3,300,000.00)
in its operating balance available to appropriate to Line Item 4470700: River Road Construction Phase
II;
WHEREAS, it is in the public interest to now appropriate such funds accordingly.
NOW, THEREFORE, BE IT ORDAINED by the Common Council of the City of Carmel,
Indiana, that, subject to all applicable laws, the following additional sum of money be and the same is
hereby appropriated out of the Rainy Day Fund operating balance for the purpose specified below:
$3,300,000.00 FROM THE
1917_11►ya 107_ya:1V611 2:3 1100 W.11 0610
TO
LINE ITEM #4470700: RIVER ROAD CONSTRUCTION PHASE II
and,
BE IT FURTHER ORDAINED that all monies so appropriated from the Rainy Day Fund
that are not expended on the River Road Construction Phase H project shall be promptly returned to the
Rainy Day Fund.
Ordinance D-2376-17
Page One of Two
This Ordinance was prepared by Jon A. Oberlander, Senior Assistant City Attorney, on 7/24/17 at 3:32 p.m. No subsequent revision to
this Ordinance has been reviewed by Mr. Oberlander for legal sufficiency or otherwise.
V:\shared\ORDINANCES\Additional Appropriations\2017Wdditional Appropriation Ordinance Rainy Day River Road Phase ILdoc
SPONSOR: Councilor Finkam
This Ordinance shall be in full force and effect from and after the date of its passage, execution
by the Mayor.
h
PASSED by the Common Council of the City of Carmel, Indiana, this day of AVK.M ,
2017, by a vote of —6— ayes and --C nays.
COMMON COUNCIL FOR THE CITY OF CARMEL
sq�lnkam, President
Laura D. Campbell
nald E. Carter
H. Bruce Kimball
Kevin D. Rider
J or e
Pres e ted by me to the Mayor of the Cit of Carmel, Indiana this ��ay of
2017, at.
Christine S. Pauleyzberk-Treastixg
Approved by me, Mayor of the City of Carmel, Indiana, this PL—' —day of
RU -1 2017, at _?M.
u�
es Brainard, Mayor
T:
hristine S. Pa ey, Clerk-Tre rer
Ordinance D-2376-17
Page Two of Two
This Ordinance was prepared by Jon A. Oberlander, Senior Assistant City Attorney, on 7/24/17 at 3:32 p.m. No subsequent revision to
this Ordinance has been reviewed by Mr. Oberlander for legal sufficiency or otherwise.
V:\shared\ORDINANCES\Additional Appropriations\2017\Additional Appropriation Ordinance Rainy Day River Road Phase 11doc