HomeMy WebLinkAboutD-2443-18 Appropriates Funds Received From 3348 Foster Ridge Lane SaleSPONSORS: Councilors Carter and Kimball
ORDINANCE NO. D-2443-18
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 LOCAL ROAD AND STREET FUND
Synopsis: Appropriates the funds received from the sale of the property located at 3348 Foster
Ridge Lane from the operating balance of the Local Road and Street Fund so that they may be
expended on road projects.
WHEREAS, the City of Carmel (the "City") recently sold the property located at 3348 Foster
Ridge Lane (the "Property") for the sum of Two Hundred Thirty Four Thousand One Hundred Twenty
Nine Dollars and Eighty Four Cents ($234,129.84); and
WHEREAS, the proceeds received from the sale of the Property were deposited into the City's
General Fund (Fund #101); and
WHEREAS, the Property was originally purchased by the City using funds from the Local
Road and Street Fund (Fund #202); and
WHEREAS, in order to expend the proceeds from the sale of the Property on future road
projects, the funds must be appropriated from the general operating balance of the Local Road and
Street Fund (Fund #202) into specific line items within its 2018 budget; and
WHEREAS, the operating balance of the Local Road and Street Fund currently has excess
funds in the amount of Two Hundred Thirty Four Thousand One Hundred Twenty Nine Dollars and
Eighty Four Cents ($234,129.84); and
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 is hereby
appropriated out of the operating balances of the Local Road and Street Fund for the purpose specified
below:
$234,129.84 from the Local Road and Street Fund Operating Balance
To
Local Road and Street Fund (#202): Line item 4350900, Other Contracted Services $234,129.84
Ordinance D-2443-18
Page One of Two Pages
This Ordinance was prepared by Jon A. Oberlander, Assistant City Attorney, on 10/11/18 at 12:57 p.m. No subsequent revision to this
Ordinance has been reviewed by Mr. Oberlander for legal sufficiency or otherwise.
S:\ORDINANCES\2018\D-2443-18 Foster Ridge Lane Property Addl Appr. Ordinance.doc
SPONSORS: Councilors Carter and Kimball
PASSED by tbc Common Council of the City of Carmel, Indiana, this day of lJiu_ %
2018, by a vote of ayes and 0 nays.
CO COUNCIL FOR THE CITY OF CARMEL
Kevin D. Rider, President
Jeff 1, Vice-Presi ent
Laura D. Campbell
Ronald E. C er
ATT I ,
Christine S. Pa�xley, Clerk-Treas (r
• I
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Presented by me to the Mayor of the City of Cai
/Uc,PAWI ka ✓ 2018, atg,!nC.'1
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Approved by me, Mayor of the City of Carmel, Indiana, this Jay of
MY)'e., dt-,c 2018, at ZDy 6 f .M.
f.
ames Brainard, Mayor
ATTEST/ i
Christine S. Pauley, Clerk -Treasurer
Ordinance D-2443-18
Page Two of Two Pages
This Ordinance was prepared by Jon A. Oberlander, Assistant City Attorney, on 10/11/18 at 12:57 p.m. No subsequent revision to this
Ordinance has been reviewed by Mr. Oberlander for legal sufficiency or otherwise.
S:\ORDINANCES\2018\D-2443-18 Foster Ridge Lane Property AM Appr. Ordinance.doc