HomeMy WebLinkAboutCC-05-18-98-03 Barrett Law WHEREAS, Indiana Code § 36-9-37-46 provides for the establishrnent of a revolving fund
forthe payment of the costs of the complction 9fBarrett Law projects; and
WHIREA~, the Common Council desires to esfablish such a revolving ~nd to increase the
probability that competent contractors will bid on certain Barrett Law projects in the City of Cannel.
NOW, THEREFORE, BE IT RESOLVED BY THE COMMON COUNC~ OF
CITY OF CAR.MEL, INDIANA, as follows:
gection ]. f!reation ofRevolvin2 F,,na.
(a) Pursuant to Indiana Code § 36-94746, there is hereby estsbllshed a fund of file Cky,
designated as the 'City of Cannel Barrett Law Revolving Improvement Fund." Moneys in the
Revolving Fund may be used by the Common Council to pay the costs of Barrett Law projects, it the
Common Council finds that payment from the Kevolving Fund will increase the probability thai
competent contractors will bid on the projects.
Co) Pursuant to Indiana Code § 36-947-46, special assessments levied against property
bonefleeing tram the projects shall be deposited in an account designated as the "City of Camel
Barrett Law Surplus Account.' The Common Council may approve the transfer of such usesRents
to the gevolv'mg Fund for the completion of additional projects.
-~ec~inn IX. This Resolution shall be in Full force and eff'ec~ From and after ks adoption by the
Common Council and upon compliance with the procedures required by law.
~nf /k~,.~. 19 ,by
PASSED by th~ Caxxmxcn Catm~ of the City of Camel, Indiana, this ~ 98
a vote of// ayes and ~) nays. . ~
tT~ COUNCIL FOR THE CITY OF CARIvIEL
g Officer ' · P, obert Battr~ll, Pr~ident .
· , Luci Snyd~
ATTEST:
Diana L. Cordray,
Presented by me to tim Mayor of the City of Cannel, Indiana, on this/~~y
_ o'clock a.m.~
Diana L. Corctray, Clerk-Tin
' Approvcd by me, Mayor of th~ City of Cannel, Indiana, thi of _, 1998, at ~ ~-~
__ o'clock a.m./~)
nard, Mayor
ATTEST:
Diana L. C~rdrayC, lerk-~~~ '